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CORO Coro Energy Plc

0.00 (0.00%)
23 May 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 7976 to 7996 of 8275 messages
Chat Pages: 331  330  329  328  327  326  325  324  323  322  321  320  Older
Good news which hopefully will give the share price support at current levels.
Sell our 15%, clear the debt, cash in hand and profits and cash flow from our renewables! Onwards and upwards!
Yes and in a few months with the GSA we will be a lot higher.
Thank goodness some warmth from Coro. Obviously a goer.
Do we have a heartbeat? Cryogenics has been amazing. I'm a live.
23 February 2024 ASX:CRD
Ministerial Approval of Mako Gas Price & Allocation
Conrad Asia Energy Ltd (ASX:CRD) (the “Company”; or “Conrad”), an ASX-listed Asia-focused natural gas exploration and
development company, is 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 (the “Minister̶1;). This is a significant
milestone that allows Conrad to finalise fully termed Gas Sales Agreements (“GSA”). The Mako project will contribute to
Indonesia’s target of doubling gas production by 2030.
o SKK Migas, the Indonesian upstream regulator, has informed Conrad that the Indonesian Minister of Mining and
Natural Resources (“MinisterR21;) has issued a letter (the “Allocation Letter”) which approves the volumes and prices for
gas exported and sold domestically from the Mako gas field in the Natuna Sea.
o The Allocation Letter is a key step in advancing the documentation for the sales of Mako gas and access to the West
Natuna Transportation System (“WNTS”), as it serves as the formal basis for reserving pipeline capacity for the
evacuation of Mako gas. As previously disclosed, Conrad is continuing to work with the relevant parties and SKK
Migas to finalise the GSAs (with customary conditions precedent).
Conrad Managing Director and Chief Executive Officer, Miltos Xynogalas, commented:
The approval by the Minister of the Mako gas price and volume allocation is an important milestone towards the completion of
the Mako GSAs. Together with the WNTS access agreements these are key requirements for a final investment decision on the
Mako field development. I am very pleased to receive the continuing support from the Government of Indonesia for the
development of this important gas field which will contribute to Indonesia’s objective of increasing domestic gas production
and transitioning to cleaner burning fuels.
Conrad has made significant progress with the Mako gas project, including securing government approvals, maturing farm
down discussions, and pushing forward with debt funding initiatives. The injection of capital from the recent successful capital
raise has put us in a strong position to conclude the last outstanding issues on achieving the final investment decision.

the donald

Ministerial Approval of Mako Gas Price & Allocation

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."

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.
pavey ark
Well that sh1t sandwich of a deal then!
Chart truly awful, but looks like a very good area of support here.
Mm's probably got wind of that 6.5 million rollover and decided to drop the share price
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.
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.

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.
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

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."

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