Coro Energy Share Discussion Threads

[stewart4990] 17/11/2021 16:12

Well volume up significantly this week.

[currypasty] 17/11/2021 15:30

Ive no idea what the MM's are up to.. selling them cheap, then buying back dearer

[lazarus2010] 17/11/2021 08:47

3.19 trades are all buys, that's why the mms have upped the offer

[currypasty] 17/11/2021 08:25

you are right, he is NED

[helpfull] 17/11/2021 08:15

Is "Malcy" connected to Malcolm Graham Wood who is a NED at Ascent Resources where Dennan and Parsons are on the BOD? Aren't Dennan and Parsons on the BOD at Coro Energy? There's no reference to his being on the BOD at Ascent in "about Malcy" on the Malcy blog site so I'm not too sure. Malcy is an internationally renowned oil and gas expert so he's amply qualified to comment on the Vietnamese solar acquisition. Be careful.

[jemjem] 16/11/2021 18:20

Malcys comments.looks as if this deal could be really important for Coro and Mark Hood and he has picked what looks like a good deal in a very exciting market.https://www.malcysblog.com/2021/11/blog-from-houston-oil-price-kistos-vog-far-coro/

[stewart4990] 16/11/2021 16:12

I see moving up again, lets hope its Duyung

[currypasty] 16/11/2021 09:53

lets hope Conrad get their finger out.

Coro must be fairly confident of progress shortly to go ahead with this acquisition and the future funding it will require.

[helpfull] 16/11/2021 08:40

Not the Duyung news then? The company gets the chance to plan a rooftop 5MW project for $500,000 cash. I think most shareholders thought that was signed already. And another 150MW of project plans. Great. Build ready, the new shovel ready. As always no substance. No revenue. If the compaany uses its own cash raised last February (1,125,000,000 shares at 0.4p) then the next huge cash raise is signalled. Duyung is years away, if ever. €25,000,000+ of debt to be repaid in April next year. Can't do it, so renegotiation only option. Expect more shares to be issued. Be careful.

[jemjem] 16/11/2021 08:32

Vietnam will be forgotten for a while, when Duyung news hits here.
Imo

[lazarus2010] 16/11/2021 08:01

still time to get them while they're cheap tomboyb

[tomboyb] 16/11/2021 07:35

Good rns -

Move into renewables with solar acquisition -

The caveat was the $3.5mill funding but it looks like through "project finance" -

If no equity dilution this will be excellent news for coro -

Unfortunately I do not hold here -

[lazarus2010] 15/11/2021 21:47

Back to 3p would be even better 😁

My feeling is that they would sell Mako rather than develop it so they can focus on being a pure renewable energy company, but it would probably be better financially for them to develop it.

[lazarus2010] 15/11/2021 20:39

Curry, you've been here a lot longer than most so you should be telling us what you think it could be worth. I would hazard a guess at an initial jump to $70mln or £50mln market cap if the Mako GSA is at the top end of expectations, LESS the £20mln or so debt so a net £30mln which would be 1.5p I think?? Correct me if I'm wrong

[digger2779] 15/11/2021 16:25

curry - I'll sell you a few of mine that I wisely bought at 1.5p. Luckily I averaged down but way to go yet.

[currypasty] 15/11/2021 16:18

i think i need a 10 bagger though!

[currypasty] 15/11/2021 16:16

id agree on that..

so if some of your calcs are on the money, what price could we expect here..

Im feeling more confident of getting my money back... and some

[lazarus2010] 15/11/2021 15:39

Curry - Boris Johnson is a tw*t...ok maybe that's not a rumour, it's a fact ;-)

[currypasty] 15/11/2021 14:04

any rumours ?

[helpfull] 15/11/2021 11:54

News next week? Maybe. When you guess 52+ weeks continually it may be time to change to "news next year".

On 15 November 2020 (that's one year ago to the day) you might have read on this bulletin board:

"Why the hell anyone would sell now is truely baffling. News incoming that is potentially game changing for company and enable them to ramp up green energy diversification at just the right time imo"

"based on EME comments their share could be $30m, which would give coro about £46m, less £27m (debt+fees+interest+running costs), leaves about £19mil, when mcap is just over £2m Good money onsale of Duyung and possible 10 bagger... surprised more gamblers arnt looking at this"

"19m divided by 790m shares = 2.4p"

"That's just for cash. No debt and funded for major move into green energy should see move past 3p high if Duyung is sold for suggested figures"

All very familiar posts and posters. Come back next year and nothing will have changed. Be careful.

[johnswan193] 15/11/2021 10:10

The 3.7m this AM was mine, that's all that was available at 0.25.

[lazarus2010] 15/11/2021 07:57

Potential Value to EME for 8.5% of Mako (Coro has 15% of Mako)

Based on a calculation by Zengas from 2017 valuing EME stake at $70mln when EME held 10% (since when PoG has increased and resource estimates have increased)

$70mln*0.85 = $59.5mln/577mln shares = $0.1033 per share

$0.1033/1.34 = 7.7pps

If Zengas valued the stake based on $7 then a quick calc shows every additional $1 on the GSA is worth an additional $8.5mln or £6.34mln or c. 1.1pps

Therefore

@ $8 = 8.8p
@ $9 = 9.9p
@ $10 = 11pps

As mentioned previously and by Safi again, this excludes any potential step out, increased field size to join up with Medco or any deeper plays

From the EME board and then my take on the potential to Coro...

Safiande14 Nov '21 - 15:20 - 42298 of 42301
0 18 2
Here is Coro´s presentation from last Thurs by Mark Hood. He appears to be a bit out of date as the upgraded POD ( 2C Bcf495 - 3C Bcf817) was approved in Sep. In any event he has promised a new Q & A with latest info this week.
In terms of valuation, Zengas has a figure of US$70m for EME´s wi ( 10% at the time )in his post dated Jul 2017 hiding in plain sight in the header. This is based on 3 horizontal wells. The current field development plan involves an initial six vertical well development scheme ( 5 producers and 1 back up) in 2023 along with a small platform housing the compression facilities, which would be tied into the WNTS pipeline. A further 2 - 3 wells are planned for 2027 to maintain plateau production of 150 mmscfd ( ca.28,330 bbl eq. ). This will produce substantial revenue over a long period, even allowing for typically one off capex and fixed annual operating costs of US$32m and a US$0.45 per Mscf WNTS tariff charge for transporting the gas to Singapore & Jakarta.
The above currently excludes the shallow step out prospect to the SE of the Mako field which has a mean on site recoverable reserve of ca.100Bcf & a POS of 75%, which is effectively in the bag from an exploitation perspective on a problem free drilling basis. Also obviously excludes the deeper drill ready prospects and any extension of the Mako single tank reservoir to Medco´s oil & gas production field at Natuna sea Block B.
Align Research provided a valuation for Coro in Dec 2020 based on the current POD Mako field of 2C 495Bcf i.e. excluding the step out of 100Bcf. They determined the Net Present Value using a 10% and 12% discount factor which gave figures of US$48.5 million and US$40.8 million respectively. In their analysis they chose to use the NPV determined with a 12% discount factor rather than the more commonly applied 10%, 8% or even 5%. This was in order to more heavily risk the project as they wished to remain conservative. As we know in Sep,Tom mentioned in "Share Talk " that EME´s NPV has increased " substantially " compared to the pre pandemic late 2019 NPV.

===================================================================================

Re EME valuation based on 8.5% stake

$70mln*0.85 = $59.5mln/577mln shares = $0.1033 per share

$0.1033/1.34 = 7.7pps

If Zengas valued the stake based on $7 then a quck calc shows every additional $1 on the GSA is worth an additional $8.5mln or £6.34 or c. 1.1pps

Therefore

Let's say conservatively we get $8 in the GSA = 8.8pps

Let's double that for increased field size = 17.6pps

Lets add 50% for deeper plays = 22pps

let's add another 50% for the fun of it (actually for future potential increases in price of gas, oil discoveries in the lower formations, the extra 100bln mentioned by Saf etc)...33pps just for 8.5% stake in Mako.

Note that Coro has a 15% stake, almost twice that of EME, and the current market cap is c. £6mln. If Mako is eventually worth close to £150mln to EME, Coro's stake could be worth close to £300mln for a £6mln market cap company!!

AIMHO DYOR NIAI GLA

[steelwatch] 13/11/2021 11:08

Proactive presentation: