Coro Energy Share Discussion Threads

[digger2779] 31/10/2023 16:00

rafboy - a lot of us thought it would be signed last Christmas so let's hope it's this year in the world of shifting dates.

[rafboy] 31/10/2023 13:26

So in effect a deal should be signed within 7 weeks as after that it’s Christmas holiday season.

[lazarus2010] 30/10/2023 19:07

27 October 2023 ASX: CRD Quarterly Activities Report for the Period Ending 30 September 2023 Highlights Conrad Asia Energy Ltd (ASX: CRD) (the “Company”; or “Conrad”), the ASX-listed Asia-focused natural gas exploration and development company, is pleased to provide an overview of activities for the period ending 30 September 2023. o Conrad signed a non-binding term sheet (the “Term Sheet”) with Sembcorp Gas Pte Ltd, a wholly-owned subsidiary of Sembcorp Industries Ltd, Singapore’s leading power and energy utility. The Term Sheet outlines the core terms and serves as the basis for a definitive gas sales agreement (“GSA”), which parties have agreed to negotiate in good faith by 31st December 2023. This aligns with our target date for a final investment decision for the Mako project. These commercial terms bolster the development of Mako and support Conrad’s plan to sell down some of its 76.5% participating interest in the project. o Two of the three front end engineering design (“FEED”) studies for the Mako development project have been concluded and the third is on track for completion by mid-November 2023. o The Duyung farm down process is ongoing, and with the announcement of the Term Sheet for the gas sales, more parties have expressed interest in the Mako project.

[barony] 30/10/2023 17:02

Things moving forward nicely at Mako:-

hxxps://x.com/conrad_asia_/status/1718740228297441440?s=61&t=GTRW5CgFRbsqPU2b14N2vQ

[10owen] 27/10/2023 09:18

Only a few weeks before we should here about the Funding deal with Capton Energy and surely we must be close re the ItLian asset sale.I see Conrad are saying to expect the signed up GSA by year end which is only 9 weeks so plenty to look forward to.Maybe time for another top up on recent weakness.

[blueblood] 16/10/2023 19:16

We have had some good RNSs not non news just market is fixated on debt imo. That will be resolved with real Duyung news!

[man1] 16/10/2023 13:07

More than likely the capton deal I would say . But who knows ....

[digger2779] 16/10/2023 13:03

Could be more than a whiff of something

[currypasty] 16/10/2023 12:19

a tick up... someone got a whiff of some more non-news?

[odillon] 13/10/2023 11:48

Spot on Blueblood!

[blueblood] 13/10/2023 10:41

That's for potential sale not GSA. Expect it will take few months after GSA is signed to sell so hopefully means GSA is very close now!

[bengal1] 13/10/2023 07:03

over the coming months statement is very different from before..

[odillon] 12/10/2023 23:54

Possible good sign with news from Conrad about escrows including;

"This increase liquidity comes at a time of increased activity with regards to the Mako project. Negotiations are continuing to advance on the key terms of the Mako gas sales agreement between SembCorp Gas Pte Ltd and the Indonesian regulator (SKK Migas). These commercial terms will further the development of Mako, as well as Conrad’s plan to sell down some of its 76.5% participating interest in the project which we expect to complete over coming months"

[digger2779] 12/10/2023 13:05

Normal service has resumed. We mustn't get too optimistic.

[barony] 10/10/2023 19:52

Agree Pavey. This should be rising steadily, with a spike up for Duyung, not languishing down here imho.

[pavey ark] 10/10/2023 11:07

I am amused....well it's really the only way to look at things here!!!

Coro has a market cap of under $8m and it is doing deals with people like Siemens Finance/Capton for upwards of $50m ....it is signing up to supply large companies with solar installations of 50MW up to 360MW and what we get is:

"yeah it's okay....not a bad little deal...should help with the cash flow" ....FFS!!

The obvious subtext here is that it isn't Duyung ....El Dorado....the gold at the end of the rainbow......not a big interest of mine but I wonder how things are going with Duyung ??!!

[blueblood] 10/10/2023 10:55

Potential to increase project 7 fold in longer term. 360MW must be $Bn project!

[jamesiebabie] 10/10/2023 08:50

Allin - there's usually little risk for solar. I like bigger projects, but this is a relatively cost-effective way for CORO to move forwards.

The other positive with small projects, there's usually no need for planning, just liaison with the local grid operator.

It is positive overall.

[pavey ark] 10/10/2023 08:42

This is a significant and very valuable deal for Coro !!....they have a very experienced solar contractor in Vietnam and before Coro ran out of cash (no Duyung money) there were plans for a very rapid roll out of installations (one a month ?).
At this time Michael Carrington spoke of bringing in additional contractors/teams to increase this further.
I suspect this deal will produce an even more rapid installation programme.

Anyone who has stopped for even a minute to think about the practicalities here will see that the surveys can be carried our in parallel with the current installations and installations can move at quite a pace.
If this deal only involves 25% of the potential of just one major customer they could be busy for some time.

The Vietnamese government is 101% behind this and the more observant would note that the power is being sold directly to the end consumer which reduces the strain on the national power grid.

[allinforabigprofit] 10/10/2023 08:38

Spreads the risk rather one big location multiple. Plus and minuses to everything. Main thing is potential for cash flow and this is positive news. The installer is in-country therefore no great mystery and Coro already hold practical experience in-country.

[jamesiebabie] 10/10/2023 08:08

That's a lot of small surveys and a lot of graft involved. This will be incremental cash flow, which is no bad thing, but it will be a slog.

It's not great but it is a positive start.

[pavey ark] 10/10/2023 07:45

Wow !!! by any standards this looks like a very big deal.

Michael Carrington and James Parsons have done wonders here....moving these deals along with next to no cash but a lot of very hard work.

I have spoken to Michael Carrington a few times (we both "sing from the same sheet")and found him very passionate about renewables but very, very grounded and practical ......certainly focused on commercial success.

[odillon] 06/10/2023 18:19

Moving back in the right direction. Let's hope for a strong week to come.