Coro Energy Share Discussion Threads

[grannyboy] 22/2/2024 23:47

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[steelwatch] 22/2/2024 23:39

23 FEBRUARY 2024 - ASX:CRD

Ministerial Approval of Mako Gas Price & Allocation

[grannyboy] 22/2/2024 23:25

Just received an email from Conrad. Starting to look like there's light at the end of the tunnel, and the GSA is getting close to being signed.

'Ministerial Approval of Mako Gas Price & Allocation.'

"Conrad are pleased to announce that the gas price and volume allocation for the Mako field project in the Duyung PSC has been approved by the Indonesian Minister of Energy and Natural Resources."

[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.