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CORO Coro Energy Plc

0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Coro Energy Plc LSE:CORO London Ordinary Share GB00BDCFP425 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.114 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Natural Gas Liquids 6.71M -4.12M -0.0014 -0.79 3.15M
Coro Energy Plc is listed in the Natural Gas Liquids sector of the London Stock Exchange with ticker CORO. The last closing price for Coro Energy was 0.11p. Over the last year, Coro Energy shares have traded in a share price range of 0.114p to 0.425p.

Coro Energy currently has 2,866,858,784 shares in issue. The market capitalisation of Coro Energy is £3.15 million. Coro Energy has a price to earnings ratio (PE ratio) of -0.79.

Coro Energy Share Discussion Threads

Showing 7726 to 7747 of 8325 messages
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I do like the bit about the gas sales price being linked to Brent. Looking forward to the next few weeks!
I don't think anybody expected this price reaction either here or at EME!!

I get the feeling that the jump in the share price was the MMs playing games, might have been a lot of shorts in play which got stopped out when they pushed the share price to 0.4p. Word on the street is that MMs weren't doing any deals at those prices, so the trades were probably lined up already somehow.

Also re the HoT, after such a long negotiating process, clearly SKKMigas have been playing hard ball, so they must have got a very good deal to finally agree the HoT. All looks good for the eventual sale prices...I hope!!

aimho dyor niai

blue - link?
Proactive update on todays news out
Oh! How rude?

From completion of the debt restructuring (11/04/22):

" In the event of a sale of the Company's interest in the Duyung PSC, the net cash proceeds of such disposal(s) will be utilised to first repay the capital and rolled up interest on the Notes and thereafter to distribute 20% of remaining net proceed(s) to Noteholders. The remaining net proceeds of any sales will be retained and/or distributed to shareholders by the Company"

A return to shareholders after the sale of Duyung was a key motivator for potential shareholders. It is this that Parsons should be judged on.

Don't hold your breath

Be careful.

worked out well actually, get rid of all the sellers and traders now

GSA, and sale probably further on than they are allowed to say just yet

we have some basic information about the terms, the price is linked to Brent. Now none of us have crystal balls, but the Saudis now seem determined to keep the PoO at $90'ish by cutting production rather than when they completely fkd us when we were in the midst of selling our previous assets and they went on a suicide mission of over producing to try and destroy the US oil production from fracking.

Seems more likely that the future forecasts for PoO will be closer to $90 than maybe $60 previously, so this will give the potential buyers a much higher forecast of future income and therefore makes the asset much more valuable than previous broker forecasts.

aimho dyor niai

Hi nametrade,It is the sort of stuff that Parsons puts out. Intimates things are good but doesn't provide the details on which he bases this 'pump' - because that is all it is - the parties he refers to will be able to see the details when it happens, if not before, so the line is purely a puff to try & draw buyers in.
begorrah88, Hi, long time no chat.... Hope your well.

How do you get to that analysis from the line from the RNS that I have put up above??

The most significant bit is that the GSA is really happening. We may not see the actual final figures for several weeks but the fact that all parties are on side is a complete positive. I don’t believe this is currently reflected in the share price.
Quite clear that a lot of 'chunky' investors are very unhappy with todays update - why are they so keen to get out now? Seems odd, unless they are privy to some of the detail that has been left out for the general investors? Are the prices or terms not as most would hope?
"The existing terms will be welcomed by those parties currently participating in the sell down process "

Is this suggesting to anyone else that they have good terms for their GSA in place atm.. So CORO believe that the price is good..

Coro with their very large scale renewable projects certainly have this farm down money earmarked but how much is coming ?

The two Philippine projects have a combined development cost of $275m and Coro have said they want to see them through to completion with 75% finance almost $70m ...a stretch for CORO and DUYUNG ????
Solar to be done first as less time for data collection and this requires c. $25m so doable.

The Vietnam solar is a bit easier but difficult to judge the Capton input......a significant deal and very important and valuable.

Italian gas sale should conclude and fair chance of additional cash coming from money held in the business.

Coro also appear to be sniffing around a smaller scale gas involvement to avoid 100% renewable dependancy.

Perhaps a bit complicated for some but it looks like we are in for an interesting time.

pavey ark
Buys coming back in and great price to be entering for first time now imo
Another hint (?) from the EME announcement:

"The existing terms will be welcomed by those parties currently participating in the sell down process "

This suggests that there were terms in this agreement that were perhaps binding but regardless of that there seems to be the view that things have moved on and it now looks possible that farm-down deal could be announced (soon ?)

pavey ark
I had a look at the "non-binding" bit and that isn't as straightforward as it seems:-

Investor Favored Terms

So, it is important to know that while term sheets are typically labeled as “nonbinding,” certain specific terms will create legally binding obligations. There are two legally binding commitments an investor will expect for any transaction: Confidentiality and Exclusivity.

This could explain the notion that farm down bids can ( and will? ) be made soon.

pavey ark
You would think that people waiting for their Duyung payday would keep up to speed....

James Parsons, Chairman, commented:
"I am delighted to have now secured the GSA Heads at the Duyung PSC, approved by the buyer and, critically, endorsed by the Indonesian authorities.
This is a critical step in the commercial de-risking of our project, positioning us perfectly for bids from the operator's farm-out process, which we expect to play out shortly."

Over FOUR Months ago:-
"Conrad has engaged a global investment bank with a proven track record in similar transactions to lead a farm-down process for the divestment of a portion of its interest in the Duyung Production Sharing Contract. The Operator advises bids are expected to be received during the second quarter and the industry response to date has been encouraging. Coro, which holds a 15.0% interest in the Duyung PSC, may participate pro rata in the farm-down process as various drag and tag along clauses exist in the Joint Operating Agreement. Coro may also entertain a full exit, depending on the terms offered."

I would have thought that a final , formal GSA would be required but Coro seem to be saying that today's announcement has moved things along.....quite a bit..."we expect to play out shortly."

pavey ark
Complete sell offInsiders 1Today buyers 0
Yesterdays activity was triggered by those in the know then.Oh well, nice while it lasted.
I guess a profit is a profit but I'm not selling any. Holding on for the sale which I don't think is too far away.
any CRD news rns?

they have a new presentation

 Awarded of Aceh PSCs containing existing gas discoveries
and multi TCF leads
 Key Terms for Mako gas sales signed with SembCorp Gas
and endorsed by SKK Migas
 Near Term Goals:
 2 of 3 FEED studies, third study to be completed shortly
 Conclusion of Duyung PSC Farm-Down process
 Completion of Gas Sales Agreements for Mako gas
 Mako Final Investment Decision

Yep, don't think that has ever been the real plan.
Nice pre-market price 0.35p-0.40p.

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