Coro Energy Share Discussion Threads

[digger2779] 07/4/2021 12:25

steelwatch - cheers. fwiw is about right. Suppose he's happy with his salary and options in the old boys club.
See the daily chart has taken a nasty turn right now.

[steelwatch] 06/4/2021 10:59

Mark Hood interview fwiw:

[helpfull] 29/3/2021 18:58

The Coro Energy shares obtained by Conrad Petroleum as part of the 15% Duyung acquisition were valued at 2.3492p. There were 60,905,037 shares in total valued at $1,850,000, divided pro rata twixt Conrad and Empyrean. They would be worth about $280,000 today. Conrad did not think Coro Energy shares at 0.4p were good value in the recent cash raise inspite of the Mako Resource GCA Audit giving "an increase of approximately 79% compared with the 2019 Mako Resource GCA Audit". What does that say about the Duyung asset and the Coro Energy debt? Doubling of resource value and 85% decrease in share value but no thank you. Be careful.

[currypasty] 29/3/2021 17:08

Conrad have the shares in coro due to them being as part payment for the Duyung interest

"The share element of the consideration has been priced at a 30 day VWAP of Coro's share price up to the date of signing of the acquisition agreement and is set at 2.3492 pence per share. 60,905,037 shares of 0.1p each ( "Ordinary Shares") will therefore be issued to the WNEL owners as the share element of the consideration for the transaction. "

so Corad had 90% of 60.9 m, or 54.8 million

so Conrad have neither bought nor sold any of the consideration shares they got from farm down of Duyung to coro.

The RNS was simply stating the new % they hold, after the recent placing shares were listed.

[currypasty] 29/3/2021 16:29

so CONRAD have 54.7m

2.59% 2.59% 2,111,622,173


5. Date on which the threshold was 17/03/2021
crossed or reached

6. Date on which issuer notified 29/03/2021



It was a busy day on 17th

Coro Energy plc, the South East Asian energy company focused on supporting the regional transition to a low carbon economy, announces that following the completion of the acquisition of Global Energy Partnership Limited, the Company has today awarded an aggregate of 57,187,500 options to subscribe for new ordinary shares

[helpfull] 29/3/2021 12:18

Uhm! No big surprise in the latest holdings RNS. Conrad Petroleum never increased their holding in the 0.4p cash raise and so their 6.5% holding dwindles to 2.59%. Might be telling shareholders two things: it does not think shares in Coro Energy are good value at 0.4p and it does not believe in the low carbon transition for the company. What does it say about any imminent Duyung sale developments when the hand on the tiller doesn't back a 15% holder? Be careful.

[bambos22] 19/3/2021 17:24

Big news CRCL

[currypasty] 19/3/2021 13:19

I bet its matched to a similar sized trade yet to be published

[stewart4990] 19/3/2021 13:17

A 24M sell, that's not very encouraging !!

[go_baby_go] 18/3/2021 16:51

Curry...I would expect this to start moving up soon. Didn't expect it to fall today.

[currypasty] 18/3/2021 16:12

GP Jersey, 5.34%

[steelwatch] 18/3/2021 11:36

Just on twitter - interview, though may have been posted before?

[currypasty] 18/3/2021 10:03

I think them issuing all those options yesterday is a good sign we are on the cusp..

[steelwatch] 18/3/2021 09:58

About time we got something to lift this moribund status CURRY. Let's hope it isn't just wishful thinking.

[currypasty] 18/3/2021 09:52

yes, that's the latest update from yesterday, 17th March

Notably

"Potential opportunity to partially
realise value in the short-term
through farm-out"


have they got a deal almost there ?

[steelwatch] 18/3/2021 09:49

Today's tweet doesn't link to the Q1 presentation, March revision, but this is it:



Some renewables projects listed at last.

[helpfull] 18/3/2021 08:38

That Open Offer went well. 37,214,632 shares at 0.4p. Does that make £148,858.52 or very nearly one Mark Hood yearly salary. Nice symmetry. Perhaps it could become a yearly event by small shareholders to benefit management. That salary is OK but just to make sure Mark hangs around for a few years he needs to be given 37,500,000 options. Nice symmetry (again). Perhaps that could become a yearly event also. Although all the options given to James Menzies didn't help him when push came to shove. That was when Coro was an oil and gas concern. The Italian assets first, followed by South East Asia. The Italian legacy is an unsaleable albatross. Will the company have to pay someone to take it away? The South East Asia gas legacy is Duyung. A €22,500,000 loan to be repaid next year is up for negotiation to extend to 2025. That would suggest any sale of the 15% Duyung assets is far away. No cash to match the loan in the near future. Be careful.

[mach100] 17/3/2021 16:48

Thanks Curryp. It looks like all's good in the Hood. I don't honestly think us investors can ask for much more than that.

[currypasty] 17/3/2021 15:09

Coro Energy plc, the South East Asian energy company focused on supporting the regional transition to a low carbon economy, announces that following the completion of the acquisition of Global Energy Partnership Limited, the Company has today awarded an aggregate of 57,187,500 options to subscribe for new ordinary shares in the Company (the "Options") to certain of the Company's executives under the Company's Long Term Incentive Plan ("LTIP"), the terms of which were announced by the Company on 22 February 2021.

37,500,000 of the Options have been awarded to the Company's Chief Executive Officer, Mark Hood

[digger2779] 17/3/2021 10:44

If it is to do with Duyung then the directors here and the "new boys" should be reported.

[go_baby_go] 17/3/2021 09:24

Quiet here yes, I added near 1m this morning. Expecting this to move up like EME.

[currypasty] 17/3/2021 09:13

EME are having a bit of a bounce the last couple of days.. they only habe 2 projects Duyung and China...


Still not much interest here yet