Coro Energy Share Discussion Threads

[odillon] 28/3/2024 12:12

The new estimated resource report is dated 31 December. Why has that information been held back for 3 months?

Perhaps Conrad did not share this information with Coro until today?

Also who is responsible for installing the pipeline, that is a condition of the deal announced today going ahead?

[begorrah88] 28/3/2024 07:59

I'd be inclined to think that reduction is a fundamental reason that someone has been selling a lot for the past month or so as it will impact on debt renegotiations & I very much doubt the data has only just become available.

[begorrah88] 28/3/2024 07:56

Have they been trying to sell a % for the last 6 months+ only to have the potential asset reduced?

[showme01] 28/3/2024 07:53

Granny, it's probably because they now have to sort out deferring the debt again.

[grannyboy] 28/3/2024 07:42

I don't know about anyone else but those CORO RNS's comes across as cold with a slight tinge of animosity ?!!

[showme01] 28/3/2024 07:11

Beggorah, I am surprised that Conrad's share price didn't move but there have been so many false dawns. This time though, there is a date. Before May 31st 2024 in line with their previous Q2 2024 time line. Then there is this ' The remainder of the Mako sales gas volumes will be sold to Singapore where a term sheet was signed in 3Q 20232 and Conrad is moving towards finalising a GSA over the coming months.
These Key Terms are an important step towards the Mako development final investment decision (“FID”) planned by midyear 2024. '

[begorrah88] 28/3/2024 07:06

Another 'milestone' - how many more milestones must there be?

The announcement had no impact at all for Conrad.

I wish they would lay out how many more milestones there are before a GSA

The CORO RNS is very low key

[digger2779] 28/3/2024 00:00

Just got this email 😍😍😍

Mako Gas Sale Key Terms Signed with PGN

Highlights

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 it has entered into binding Key Terms for the sale and purchase of the domestic portion of Mako gas (“Key Terms”) with PT Perusahaan Gas Negara Tbk (“PGN”), the gas subsidiary of PT Pertamina (Persero), the national oil company of Indonesia. Under these binding Key Terms, Conrad and PGN will agree in good faith and sign a fully termed Gas Sales Agreement for the domestic portion of the gas produced from the Mako field (“GSA”) located in the Duyung Production Sharing Contract (“PSC”) in the West Natuna Sea, offshore Indonesia.
On 27 March 2024, Conrad and PGN entered into binding Key Terms thereby committing to agree and to sign a GSA for the domestic portion of the gas produced from the Mako field.
Under the Key Terms, the parties will conclude negotiations for and agree in good faith a GSA that will include and be based upon the Key Terms. The parties shall endeavor to sign such GSA by no later than 31 May 2024.
This GSA will be subject to the construction of the pipeline connecting the West Natuna Transportation System (“WNTS”) with the domestic gas market in Batam. It forms part of Conrad’s Domestic Market Obligation (“DMO”) as set out in the Mako’s revised Plan of Development (“POD”). The sales volumes under this GSA will represent approximately 29.5% of Mako sales gas volumes until the PSC expires in January 2037.
The remainder of the Mako sales gas volumes will be sold to Singapore where a term sheet was signed in 3Q 20232 and Conrad is moving towards finalising a GSA over the coming months.
These Key Terms are an important step towards the Mako development final investment decision (“FID”) planned by midyear 2024.

Conrad Managing Director and Chief Executive Officer, Miltos Xynogalas, commented: Conrad has been working closely with PGN for the commercialisation of Mako gas. These Key Terms are a very important milestone paving the way for a fully termed gas sales agreement and brings the company a step closer to the FID for the Mako development. This agreement, combined with Conrad’s recent signing of a Memorandum of Understanding for its Aceh gas resources also with PGN, will further advance the Government of Indonesia’s ambition to meet the fast-growing energy needs of the country.

[rafboy] 21/3/2024 13:54

Yes we are very undervalued.

[dannymaz89] 21/3/2024 13:35

1p would only be 29m mcap7m due from settlement, 7m from asset sale, $85m from other asset sale5m mcap

[dannymaz89] 21/3/2024 12:47

Could be a big win if they announce a sale of their portion of a near 1TCF gas pie5m mcap.. CORO interest $85m+Got to think where it is geographically bang next to China and Japan who are desperate for gashttps://www.coroenergyplc.com/sites/default/files/content-files/CoroEnergy-Investor%20Update%20Q1%202024-Short%20-%20V6.pdf

[rafboy] 21/3/2024 12:46

Up 11% on decent buying. Good to see.

[begorrah88] 20/3/2024 13:55

It could also be that we are in a VWA period that will only be declared retrospectively once details of any refinancing have been announced.

[begorrah88] 20/3/2024 13:53

I'd say MM's returning stock to each other after the various failed attempts to generate excitement and lure in some buyers for the seller to dump into.We'll all have noticed that the, sometimes chunky, buying has very little, if any, impact on the bid. Tells me it isn't real buying & usually gets paid back in the afternoon.

[toolsmoker] 20/3/2024 13:44

That's an OTC trade so it's a movement between accounts not a sell

[digger2779] 20/3/2024 12:06

Not me currypasty. I have a few million but not that many.

[currypasty] 20/3/2024 12:01

10 mil sell, anyone on here ?

[pavey ark] 14/3/2024 21:11

Another excellent short interview (c.4min)on Proactive.

Michael Carrington giving an update of progress in Vietnam and the Philippines.....well worth a look.

[currypasty] 12/3/2024 15:13

what a con

[10owen] 12/3/2024 14:31

Dark forces at play again?.

[petercrosby] 11/3/2024 16:25

Yeah, I like the bit about using the existing weather mast and data - effectively makes it a 200MW project for which there will be some cost saving synergies for rollout.

Also their website states they are applying for a 100MW Solar ground array in the same area.

[digger2779] 11/3/2024 10:58

More news being sold into by the looks of things