Coro Energy Share Discussion Threads

[blueblood] 31/7/2023 09:40

GSA price will be tied to Oil

[lazarus2010] 31/7/2023 09:24

Curry - those aren't Asia prices

[currypasty] 31/7/2023 09:06

free stock charts from uk.advfn.com



I think conrad have similar negotiating skills to Tom... start process at high resource price, do deal at the bottom

[pavey ark] 31/7/2023 08:53

I don't take much interest in the "Dreams of Duyung" but I would have thought the last bit would have got some attention:

"A farm-down process for the divestment of a portion of Conrad’s interest in the Duyung PSC is ongoing with bids expected to be received soon. Conrad has engaged a global investment bank with a proven track record in similar transactions to lead the farm-down process."

I understand that whatever offer Conrad gets then CORO is entitled to the same offer ???
If this is the case then this puts a very tangible value to Coro's holding....again ...just saying.

Something that should happen fairly soon is the conclusion of the Italian gas sale (September ?)....money in and the prospect of additional cash from the money held in the business...could be substantial.

With some cash the Vietnam solar will be pushed on ....soon to be worth more than Coro's entire market cap ?? ....not difficult !!

[blueblood] 31/7/2023 08:35

Rubbish 2 of the 3 FEED projects are completed and final one underway and will finish in next few months. First gas expected 2025 and GSA expected to be finalised during Q3 ie anytime from tomorrow in next 2 months.

[begorrah88] 31/7/2023 07:56

It continues to be a shambles & gives no confidence at all that anything has moved forward or will do anytime soon.

[starzerus] 31/7/2023 07:09

Still trying to get the best deal. Come on ffs

[bengal1] 31/7/2023 05:34

They have surely had long enough to negotiate terms - something not quite right. The more this pushes beyond Q3 to Q4, or the bids element, then the higher our loan gets. Is there a cash call for FEED work, anyone know? The argument of the longer it takes taking advantage of the oil price environment does not help those with loans. Is Conrad disconnected with the reality of both Coro and EME. Very disappointed and hope we don't get pasted today.

[steelwatch] 31/7/2023 02:39

Conrad Managing Director and Chief Executive Officer, Miltos Xynogalas, commented:

“During the second quarter we have maintained our focus on completing the agreement of key terms for the Gas Sales Agreement (“GSA”) for Mako Gas with the Singapore buyer. We have extended the original timeline due to the size and importance of the project but we remain confident that these negotiations will be finalised in the short term. The extended timeline has impacted the farm down process which we now expect to progress during this quarter."

“In parallel with negotiating the key terms of the GSA, we have made progress on the Mako development and recently completed the first operational activity; a geophysical survey for the development well locations and the pipeline routes. The operation was completed on time and on budget and with no HSSE incidents. This underscores our commitment to bring the gas field onstream in 2025."

Duyung PSC - Mako Gas Field 76.5% Participating Interest, Operator

Conrad holds a 76.5% operated interest in the Duyung PSC via its wholly owned subsidiary, West Natuna Exploration Limited. Duyung is located in the Riau Islands Province, Indonesian waters in the West Natuna area, approximately 100 kilometres to the north of Matak Island and about 400 kilometres northeast of Singapore.

Gas sales agreement negotiations have been a focus of the Board and management of Conrad with tripartite engagements held between Conrad, a Singapore gas buyer, and SKK Migas. The negotiation of key terms is now expected to be finalised during the Q3 CY2023. The continued GSA negotiations will allow the Company to take advantage of an improved and favourable pricing environment given strong worldwide gas demand and low supply.

Front end engineering design studies were initiated during Q4 CY2022, with three separate FEED studies being progressed for the mobile offshore production unit (“MOPU”) processing facilities; the subsea umbilicals, risers and flowlines (“SURF”) and for the conductor support frame (“CSF”). The MOPU processing and the SURF FEEDs have been completed. The CSF FEED will conclude in Q3 CY2023. The results of this work are now being integrated and discussed with SKK Migas.

A geophysical pipeline route survey and a remote operated vehicle survey of the production manifold in the adjacent Kakap PSC (through which Conrad intends to export the Mako gas to the West Natuna Transportation System) have been completed without incident. A geotechnical survey of the MOPU location and potential well locations is scheduled over the next few months. Project optimisation discussions (e.g. precise placement of wells and facilities in light of the geophysical and geotechnical surveys) are ongoing with SKK Migas. The procurement process for all major project equipment and services contracts was commenced in Q2 CY2023.

Acquisition of environmental approvals for development is ongoing. The Government of Indonesia requires environmental permits for drilling or construction activities within the country. Included within the required permits is the project Environmental Impact Assessment (termed “AMDAL” in Indonesia). The Mako project AMDAL has been submitted to the government for review with approval expected during before the end of the year.

A farm-down process for the divestment of a portion of Conrad’s interest in the Duyung PSC is ongoing with bids expected to be received soon. Conrad has engaged a global investment bank with a proven track record in similar transactions to lead the farm-down process.

[bengal1] 25/7/2023 12:11

Why the sell at 0.2475p when bid is at 0.25p

[currypasty] 24/7/2023 12:46

Personally I think that Conrad shareholders are as much in the dark as we are.. a few percent either way move is neither here nor there. If there is a significant move, then perhaps movement on the GSA / sale is due?


those 2.5 mills last week look connected to me.. roll over for a fee?

[bengal1] 24/7/2023 07:25

Conrad down quite a bit.. Bad news?

[bengal1] 21/7/2023 15:58

And another 2.5m sell...

[bengal1] 21/7/2023 14:01

Hmm, some chunky sells going through.

[digger2779] 20/7/2023 11:03

He's here for the money. Presided over the Lekoil car crash but can't find anything for him in companies house for COPL which is another disaster.

[currypasty] 20/7/2023 08:41

makes you wonder...


"Tom is an experienced oil and gas professional and is currently Chairman of Fenikso Limited."

[grannyboy] 20/7/2023 08:09

Who thinks Tom Richardson is here for Oil&Gas or for Renewables?

[petercrosby] 20/7/2023 07:30

He's been around a bit for 42...

[currypasty] 20/7/2023 07:28

Coro Energy Plc, the South East Asian energy company with a natural gas and clean energy portfolio, is pleased to announce that Tom Richardson will join the Board as an Independent Non-Executive Director with immediate effect.

Tom is an experienced oil and gas professional and is currently Chairman of Fenikso Limited.

Tom Richardson holds no Ordinary Shares in the Company.

James Parsons, Chairman, commented:

"I am delighted to welcome Tom to the Board and look forward to his contribution across the business."

[mebo2] 19/7/2023 15:43

That would be nice

[helpfull] 19/7/2023 14:05

Oh! How rude?

Perhaps the share price is rising because Parsons is going to step down as Executive Chairman like he has just done at Corcel?

Be careful.

[linz22] 19/7/2023 13:49

I heard a very similar rumour before Christmas 2021...

While it's good to see the share price here starting to get back on its feet, I don't see it as necessarily related to the pending GSA, imminent or otherwise. More likely a simple recorrection from the ridiculously oversold value to which it fell recently.

That said, it's EME that's proven to have been the leakiest of leaky ships in recent times, which is from where I'd expect to see the first indications of a de facto GSA imminency.