Coro Energy Share Discussion Threads

[the donald] 05/4/2022 07:15

Couldn't you have just copied and pasted the Coro related part?

As we all know the GSA is due on the Mako gas field of which EME holds a 7.5% interest in the 495Bcf. The Gas Sales Agreement has been hinted at by several parties to be immanent at any time now. To put a value on the asset to try and work this out is an interesting one.

With every 6,000 cubic feet of natural gas being equal (or equivalent) to one barrel of oil. We can guesstimate therefore…

495,000,000,000 / 6000 = 82,500,000 barrels of oil equivalent of which EME has a 8.5% interest. As the asset is nearby to pipelines it is easy to get into production with minimal capex. So at circa 7mn barrels of oil equivalent to EME and assigning a value of circa £5 a barrel it could be worth 35mn at present or 5.4p per share. Upon a direction going forwards with a viable GSA this should add potentially another £35mn onto the mcap or $10 in the ground value. This is before sales and is only an in the ground value. Once sales and the concept have been seen to be in place with sales than a Nav percentage can be applied to the sales. Dependant upon the terms of this then this is a conservative value.

[buzzzzzzzz] 05/4/2022 07:10

bluehooperman4 Apr '22 - 22:07 - 46769 of 46771
0 7 0
As we all know the GSA is due on the Mako gas field of which EME holds a 7.5% interest in the 495Bcf. The Gas Sales Agreement has been hinted at by several parties to be immanent at any time now. To put a value on the asset to try and work this out is an interesting one.

With every 6,000 cubic feet of natural gas being equal (or equivalent) to one barrel of oil. We can guesstimate therefore…

495,000,000,000 / 6000 = 82,500,000 barrels of oil equivalent of which EME has a 8.5% interest. As the asset is nearby to pipelines it is easy to get into production with minimal capex. So at circa 7mn barrels of oil equivalent to EME and assigning a value of circa £5 a barrel it could be worth 35mn at present or 5.4p per share. Upon a direction going forwards with a viable GSA this should add potentially another £35mn onto the mcap or $10 in the ground value. This is before sales and is only an in the ground value. Once sales and the concept have been seen to be in place with sales than a Nav percentage can be applied to the sales. Dependant upon the terms of this then this is a conservative value.

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$5/barrel would equate to roughly 1.5p a share

$10/barrel would be 3.2p a share

[jamesiebabie] 04/4/2022 18:11

Laz - she doesn't have a clue.

[buzzzzzzzz] 04/4/2022 17:47

Talking to Mark Hood this morning who was in Manila, it does look as though 24k scm/d could be achieve relatively soon. Casa Tiberia is rather small fry but with Sant’ Alberto in play a total from the Italian portfolio of 80k scm/d or more could be achievable once the environmental clearance at Sant’ Alberto is completed.
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Taken from the Align note

80,000x1 x 365 gives approx 27m euros per annum

[lazarus2010] 04/4/2022 16:32

strange trading today, lots more buys than sells as far as it's possible to determine on advfn...and MMs drop the price back to -0.075 at the death...hmmm

but that's ok, more can go into the ISA if we stay down here ;-)

[begorrah88] 04/4/2022 16:31

We do this most days, solid buying throughout the day then the bid drops off before the close. Don't seem to see trades showing where the sold stock is coming from.Hope it isn't Parsons 3 yr forward selling!

[blueblood] 04/4/2022 16:24

Be nice to see 0.5p close

[lazarus2010] 04/4/2022 15:32

JB...does she know she did? My missus buys and sells lots of shares that she doesn't have a scooby about! I just tell her how her SIPP and ISA are doing every month!

[currypasty] 04/4/2022 15:26

Director/PDMR Position Number of options
over ordinary shares
awarded
James Parsons Executive Chairman 47,080,979
-------------------- ----------------------
Chief Executive
Mark Hood Officer 21,522,733
-------------------- ----------------------



always a sign things are on the up, when directors hand themselves options

[ride daice] 04/4/2022 15:22

Join the Chorus LOL.

[jamesiebabie] 04/4/2022 15:16

The mrs took another 500k, CORO.

[jamesiebabie] 04/4/2022 15:15

If anyone is looking for further exposure to the European gas producers, then you may like to look at VET.to, even the Germans may like them. It's a large cap that also pays a divi. Well worth a look and it has considerable upside.

[lazarus2010] 04/4/2022 14:56

if the share price hits 1.6p in 3 years' time at date of vesting, James Parsons' freebies will be worth £1.177mln...
what happens if the company gets bought out at say 2pps before then? Do the shares become vested by default?

[lazarus2010] 04/4/2022 14:36

2mln 'sell' gone through was my buy from earlier...MMs playing their games of course!

[lazarus2010] 04/4/2022 14:04

Buzzz....buzz off, you've increased the offer price so I can't get any more cheapies ;-(
I will wait to see if an opportunity arises...if not then just over 48mln will have to do!

[lazarus2010] 04/4/2022 14:02

aha, well I will stay below that figure, thought it was much higher, but yes 3% of 2+bln shares would be 64mln...

[buzzzzzzzz] 04/4/2022 13:43

Notification of significant holding ie 3%

ie 64mln............50mln getting close


You have talked me into another 1 mln at .0049

[lazarus2010] 04/4/2022 13:40

TR1? Heard or TR4 upto TR7, was there a TR3A? Not sure what a TR1 is?

[buzzzzzzzz] 04/4/2022 13:33

Laz

Nearly time for a TR1..LOL

[lazarus2010] 04/4/2022 13:21

well I thought I had stopped buying with my last lot last week, but I might as well round up the numbers, so just added 2mln at .4825 and will add another 2mln on any more weakness. 50mln at 2p sound nice...and even nicer at 4p!!

[lazarus2010] 04/4/2022 13:13

I can understand why people are selling, as Align are forecasting a measly 300% increase from here...hardly worth staying for in these days of 10 baggers everywhere!! Curry - I think you're right, but of course as stated gas prices are fluctuating so could go above and below the 1 Euro, hence that's a reasonable benchmark to work from for now. Of course if they can get some additional production on-line pdq then the sustained prices above 1 Euro and additional production, maybe we could be adding another couple of £millions in fcf for this year alone!

That sort of fcf more or less underpins the current market cap, and probably more if these assets were put up for sale now, could easily be £20mln sale price!

This means Duyung is not even in the share price even though it has clearly got huge value, and then there's the renewables...1.5p would value Coro at £30mln'ish...maybe we should be looking more like £50-60mln for starters!

aimho dyor niai GLE!

[ride daice] 04/4/2022 13:11

And it might double if they develop Saint Bertie.

[currypasty] 04/4/2022 13:04

"he figure of €5 million of free cash flow that could be generated by the Italian portfolio over the next 12 months assumes a price of €1 per scm. Here it is worth highlighting that current geo-political conditions have seen gas prices climb over €1.50 per scm. In fact, they just peaked at €1.90 this morning. "


so could be a lot more than 5m