Coro Energy Share Discussion Threads

[ride daice] 06/4/2023 12:55

Personally I'd rather pay the CGT than risk wasting the allowance.

[lazarus2010] 06/4/2023 12:42

I'm amazed no B&B trades are showing yet?

[ridingthewaves1] 06/4/2023 12:19

GBP stock about to blast

[digger2779] 06/4/2023 12:18

I'm amazed that 500k buy hasn't dragged the share price down further.

[digger2779] 06/4/2023 12:17

BBC and ITV presenters' voices reach fever pitch when they have fear peddling to spout. No mention of Greta having to delete tweets because her predictions have failed to come true. This media is just plain evil and is pushing net zero on all of us except for China, India, Africa, Russia. No mention on what that lot aren't doing to "save" us from turning the earth into a fireball ha. Russia gets it in the neck for Ukraine and yet the USA and UK now with the help of NATO are entirely blameless? Pretty sure all these bombs and missiles are adding to "the problem" but they don't care and brush over all those young lives that have perished just so Biden can sell LPG to Europe.
BTW that last link has gone missing

[grannyboy] 06/4/2023 08:20

You would think that if the far East were desperate for energy security suppliers would be falling over themselves to get agreements signed off. It's obvious Conrad have very little leveraging power in being able to tell the gas buyers to get the GSA signed in a timely manner or FO and transport the gas elsewhere!!!

[helpfull] 04/4/2023 16:51

Oh! How rude?

"An initial cash payment of EUR 1.5M will be made by Zodiac within 7 business days of signing the SPA"

The 7 business days are over.

Will Parsons make an announcement?

Let shareholders know the outcome?

Recent history shows there has been no RNS announcement during the 10 day volume weighted average shares for debt interest period.

What side is your bread buttered on?

Be careful.

[lazarus2010] 03/4/2023 17:32

beggie, as Toon says, the share price will find its own level after the initial sells and buys...everything of course and stating the bleedin' obvious, is dependent upon the GSA signature and then the contents of the deal.

If the expected sale price just covers the CLN then we're valued at the Italian assets plus 1 x RTS project worth c. $3.5mln...less any debt owed?

For every $1mln of potential sale price (less any tax?) above the CLN repayment we should see at least 10% added the the current share price

$10mln net should see a tripling of the share price based on current market cap of c. £4.5mln, which would take us back to 0.6p ($10mln + £4.5mln = c. £13.5mln = c. 0.6pps)

So $20mln net should see us c. 1.0p (assuming the Italian asset sale covers the current market cap and a bit of discount and the RTS is in for free).

1.0p should leave a significant amount of discount to the sum of the parts valuation.

Fingers crossed for a great sale price!!!!

[begorrah88] 03/4/2023 16:13

Am I alone in having a concern that the GSA, if & when signed, may not have the impact on the share price that we all desperately want?I'm hoping that it causes an official re-rating rather than expecting buyers to come crashing through the door lifting the share price because I fully expect significant selling.I think we may find ourselves just moving our hopes onto the next stage which, hopefully, will be a sale.You deserve some luck toon.

[begorrah88] 02/4/2023 18:32

So you were happy to post about being told the GSA was agreed but I don't recall you posting any of the further paragraph? rather makes my point about your eagerness to accept anything positive but not so eager to post anything that isn't.

I don't know you but I do know your posting history & it is upon that that I base my assessment of your approach that your sensitive nature has been so offended by.

I used to query some of your gung-ho posts about EME where you followed a similar pattern & look how that turned out.

[helpfull] 01/4/2023 21:23

Oh! How rude?

"GSA is nothing to do with Parsons"

Interesting peeps are willing to believe that, yet fail to question why his options are linked to:

"performance vesting criteria for the Options is a final investment decision being taken by the partners to the Duyung PSC or the successful sale of Coro's interest in the Duyung PSC"

That's 70,000,000 options given to someone who has no control or input on the performance criteria. How would that be described in legal terms?

I think Menzies was the CEO when the interest in Duyung was bought. Parsons managed to disappear him.

I think the only input Parsons had was raising the cash from LO and other bond holders. And he is planning to return it to them, handsomely. I wonder if he will return any cash to shareholders if Duyung is sold? I would say not as he is already pleading poverty.

Remember the most important point is the security of BOD remuneration.

Be careful.

[jemjem] 01/4/2023 16:49

I see begorrah is taking my name in vain and quoting me incorrectly. Thanks for the defence buzzzzz.

Begorrah. Perhaps you could direct me to a post where I have said the GSA was signed? Back in June last year - post 49000 on eme - I said I had been told the GSA was AGREED, effectively between Conrad and a substantial)buyer at a price acceptable to the JVP's and the buyer.
I won't bother with what I am led believe happened but the buyer subsequently tried to get a bit cute thinking they were the only buyer in town and then had their bluff called by Conrad - who had a substantial 1st reserve up their sleeve prepared to step into the breach. For sure it has taken a long time to get all the new ducks in a row for a SIGNATURE but, according to Conrad, they are just about there at a level everyone, including SKKMigas, are happy.

You also imply I believe everything I'm told. You've really no idea how far from the truth that is. Why would you - you don't know me? Nuff said. Please filter me if you find my posts too unpalatable for you.

[mebo2] 01/4/2023 10:20

Sorry Buzzzzz you're correct, as soon as I see that word GSA my blood boiled, I'm no longer a fan of Parsons ?

[buzzzzzzzz] 01/4/2023 07:59

Mebo

This GSA is nothing to do with Parsons.

It is being done by the Indonesians and Parsons has no influence over timing, I have no idea whether CRD EME and Coro have any influence ovver what goes into it but by this time all three will be screaming sign the "F"ing GSA.

I know Parsons has a questionable CV with other Companies but in this case the GSA is out of his hands.


Now what is done with the Italian 1.5m next week that is the question.

[mebo2] 01/4/2023 01:57

Parsons led everyone along like donkey's at Sound Energy with a GSA & look at the damage he done to that company.

[buzzzzzzzz] 31/3/2023 17:09

Beggie

No offence taken.

All of us are sickened by delay but in defence of JemJem if the Indonesians switched buyers at the last minute that would be why it has taken longer than anyone thought.

I genuinely believe it is imminent but even Parsons said it couldn't be much longer but he refused to put a date on it as he had been bitten before!!!!!!

[begorrah88] 31/3/2023 14:07

The same jemjem that was saying, over 6 months ago, that a mate of his was telling him it was all signed? I'm sure he means well but he has always more eager to believe a positive than question it.I understand the logic about the GSA needing to be signed before the parties will divvi up any more but that just means the timelines all get bumped. I hope it is imminent but I don't see POD and works/contracts dates as anything that can't be kicked down the road.Appreciate that what you are sharing is what has been relayed to you so my view above relates to what I think of that & not any intended criticism of your views.

[buzzzzzzzz] 31/3/2023 13:43

Peter and Beggie.

The confirmation re CIP Merchant Cap was from Parsons as was the info re demands on cash flow.

The info on GSA comes from posters on EME I think JemJem has a good handle on what is going down.

The GSA is imminent, it needs to get signed otherwise CRD, EME and Coro are going to say why should we spend money on long lead items if you won't give us the security of a sales agreement.

The monetary requirements of solar and wind are what is preventing the payment of the interest on the CLN Parsons confirmed that.

It's a financial juggling act.

[helpfull] 31/3/2023 13:14

Oh! How rude?

"an additional EUR 1.5m is payable within 7 business days of SPA signature"

It will be interesting to see if the company issues a RNS to confirm (or not) that the €1.5 million has been paid. 7 business days ends next Tuesday. €1.5 million is about 25% of the current market capitalisation.

Perhaps the company will be more concise about the cash/shares for debt issue and, you know, might even tell shareholders if the "Company expects to generate in excess of €5 million per annum of free cash flow from its Italian portfolio" was met. Wasn't it supposed to be nearer €10 million?

At 0.1975p, there would be 295,000,000 new debt interest shares issued next month.

That's about 11.5% of the company shares at present.

Be careful

[blueblood] 31/3/2023 13:10

Confirmation that interest is being rolled over into repayment in April 24 would significantly help and change sentiment!

[begorrah88] 31/3/2023 13:07

I can't see any reason for this fall to stop anytime soon. They have put out any news they could and that just exacerbated the fall & we are now in the 10 day VWA period for the next handout to the note holders so no reason to expect any positivity to turn up.

That would change if board members started buying in volume but that has been notably absent in CORO for a long time.