Coro Energy Share Discussion Threads

[pavey ark] 20/2/2024 09:22

Had a look at those figures: With the current income from the existing Vietnam solar and these deferred payments from Italy this should come to $1m a year for the next t two years.The initial €200k payment from Italy and the final £250k from the ion Ventures sale gives an additional $530k this year. (The smaller board also cuts costs....not a lot but every little helps).Still in for 10% profit share of Italian gas but prices don't look great in europe but should produce something.There is still the legal action for the faulty work on the Italian pipeline......long term but could produce asurprise with a substantial payout to Coro.All still dominated by Duyung but the parts that Coro has control over look to be doing okay.

[officerdigby] 19/2/2024 20:53

Well that sh1t sandwich of a deal then!

[m5] 19/2/2024 10:43

Chart truly awful, but looks like a very good area of support here.

[digger2779] 13/2/2024 16:58

Mm's probably got wind of that 6.5 million rollover and decided to drop the share price

[allinforabigprofit] 13/2/2024 07:57

Mako Gas Field Update As previously announced, Conrad Asia Energy ("Conrad"), the operator and 76.5% partner in Mako is conducting a sell down process with a global investment bank in order to fund the development of Mako. Mako is the largest undeveloped gas accumulation in the immediate region. Mako has received government approval for a Plan of Development and Conrad have agreed key (non-binding) terms with Sembcorp Gas Pte Ltd, a Singapore based major gas buyer that have been endorsed by the Indonesian regulator SKK Migas for the GSA. Subsequent commercial negotiations have resulted in an improved price formula for the GSA. Since the agreement with Sembcorp Gas Pte Ltd, a number of additional parties have expressed interest in Mako.

[jason90] 10/2/2024 00:14

Conrad Asia raises A$13M to advance gas projects
Conrad Asia Energy has received funding support for its plans to advance its Mako gas project offshore Indonesia.

[nithbank] 09/2/2024 11:10

To be fair, CORO has been very communicative regarding its renewables operations in Vietnam and the Philippines. There's a lot going on in this company apart from the interminable wait for Duyong.

[nametrade] 09/2/2024 10:41

Both the CEO of CORO and EME are like rabbits in the headlights… Its a gamble as neither CEO have a plan B or any intention promoting something about their company..
No plan B equals fundamental mistake…. Imv

[begorrah88] 02/2/2024 06:15

A bit more detail in this article than we normally get

Protracted processes
The final GSA with Singapore’s Sembcorp requires that price and gas allocation approval must be endorsed by Indonesia’s Minister of Energy and Natural Resources, Arifin Tasrif, and he has had insisted on improved sales terms that have subsequently been agreed by all parties to the GSA.

“We are working with the buyer, [upstream regulator] SKK Migas and other government departments to target the finalisation of a binding GSA (with customary conditions precedent) as soon as practicable, prior to the end of Q2 2024,” said Conrad.

The key conditions of the Term Sheet with Sembcorp relate to the sale of Mako gas from start of production to the expiry of the Duyung PSC in 2037. This covers a total sales gas volume of approximately 293 billion cubic feet, with a potential increase to around 392 Bcf, representing 71% to 95% of the field’s estimated 2C contingent resources of 413 Bcf.

Meanwhile, Conrad continues to progress the technical and commercial work with the WNTS Joint Venture and, with the support of SKK Migas, to conclude access to - and reserve capacity in - the WNTS to transport Mako’s gas to Singapore.

Also, in line with its Domestic Market Obligation (DMO) as set out in the revised plan of development, Conrad has progressed negotiations of the sales of the domestic portion of Mako gas to state-owned Perusahaan Gas Negara (PGN). Subject to the construction of the pipeline connecting the WNTS with Batam — the Pemping pipeline — the operator intends to sell Mako’s gas to PGN to satisfy its DMO representing approximately 29.5% of Mako sales gas volumes.

Conrad and PGN are finalising a formal agreement to govern these arrangements. However, despite the project being approved for several years, funds for the construction of the Pemping pipeline have yet to be appropriated, and the project remains uncertain, cautioned Conrad.

Against this backdrop, the company is continuing to talk with prospective new partners as it seeks to farm down its 76.5% operated interest in the Duyung PSC.

"The improved GSA price formula and optimised capital expenditures (with the introduction of staged production start-up) underpin both the robust economics of the Duyung PSC and the likely attractiveness of the project to debt providers and potential farm-in partners,” commented James Parsons, chairman of current Mako partner — London-listed Coro Energy — which has a 15% stake.

“We eagerly await the outcome of the farm out process and in the meantime will continue to progress the growth of our renewables portfolio at pace building on our recent progress in both Vietnam and the Philippines."

[maverickps123] 01/2/2024 13:44

Just need some glaring strong news!

[maverickps123] 01/2/2024 09:48

Looking good, massively oversold and cheap as chips... been adding quietly before the others join! Should be at least .20 for starters

[blueblood] 01/2/2024 07:13

From Saf on EME board. The $325m is total cost of phase 1 with the $250m being part of this as cost to first revenue.

[blueblood] 31/1/2024 19:19

Not sure if the $325m is additional to the $250m

[r9505571] 31/1/2024 17:18

So is this $545m to initial revenue for 7 years of gas?

[ride daice] 31/1/2024 09:25

TS,

I hope it won't be an issue but I expect they will demand improved terms.

[barony] 31/1/2024 09:24

Drop seems a bit overdone, given lenders for capital lined up and just a short further delay on the, price improved, gsa.

[toolsmoker] 31/1/2024 09:05

It will be deferred till the sale of duyung .that won't be an issue

[currypasty] 31/1/2024 08:56

how will they pay the loan back in April ?

[begorrah88] 31/1/2024 07:19

Has anyone been counting how many 'deadlines' Conrad has agreed? got to be in double figures by now.

Maybe 'deadline' means something different in Australia?


You do have to laugh at the duplicitous wording from both Conrad and now Parsons & also TK at EME referencing the "The improved GSA price formula......'

It is the formula to establish a price that has been improved NOT the price.

[begorrah88] 31/1/2024 07:13

So latest 'kick down the road' GSA date from Conrad is end of Q2

n Q3 2023, the Company signed a non-binding term sheet (the "Term Sheet") with Sembcorp Gas Pte Ltd ("Sembcorp"), a major Singapore energy company, which outlines the core terms and serves as the basis for negotiating a definitive Gas Sales Agreement ("GSA"). Subsequent commercial negotiation between the Minister of Mining and Natural Resources and Sembcorp has resulted in both improved price formula and a delay in executing the GSA, and accordingly, Conrad has agreed with Sembcorp to delay the deadline to finalise a binding GSA (which will be subject to customary conditions precedent) by the end of Q2 2024.

[steelwatch] 31/1/2024 01:27

So a price sensitive announcement, positive or negative for Conrad, is expected imminently. Any further delay may possibly result in a suspension..

[barony] 30/1/2024 23:07

I see Conrad have frozen their shares on Asx pending a placing. They are hurting too as they wait for this bloody gsa to be sorted.

[pavey ark] 25/1/2024 17:23

Not wanting to get into another bun fight here but a bit depressing to see posts elsewhere completely ignoring any positive news on renewables.

As I type renewables are at least as valuable as even the most positive outcome from Duyung......that is 15% of Duyung sold and debt paid.

As the renewable programme moves on the difference becomes even greater.

The most recent news has been that a Vietnamese bank is willing to provide up to c.$17m finance (50% in stages) for Coro to install solar panels across 900 sites in Vietnam.
The first 9 site pilot is to cost c.$300k then if this proves the project they will move ahead with the rest to a total of 50MW......this is a $33m-$35m deal.

The target for Coro is 150MW installed in Vietnam.

Then we have the very important and large investor Capton. This deal still being negotiated but Capton are very interested in buying into Coro's Vietnam operation !!!

Another rather technical point announced recently is that their Philippine met mast will provide data that is applicable to more than one wind farm site .....this data is essential for any wind farm project and is therefore very valuable.
Coro also have 12 months LIDAR data so they have all the data that ANY investor would demand before financing the projects.....even if Coro don't build the wind farms this data is worth millions.

Then we have the Philippine 100MW solar farm....doesn't need the same data but complicated land deal leases etc ...should be moving along and must be RTB in a few months ??!!

At RTB stage on any of the Philippine projects Coro would have the opportunity to sell the site with all permissions etc.....no info/hints have been given but at this stage ,and Duyung taking forever, the temptation would be there.

The Philippine solar would be the first to reach RTB and could be sold for $15m-$20m
This is a $100m project so the value here is getting it handed to you absolutely ready to go.
The wind projects are $175m each so the value of all Coro's data and permissions is even more obvious.