Coro Energy Share Discussion Threads

[digger2779] 12/4/2024 12:38

Let's hope it's not an after market close RNS. When that's happened in the past on other stocks I hold it's never been good.

[odillon] 12/4/2024 12:00

It's almost midday and they are keeping news about debt renegotiation under their hats for now. Fingers crossed for some uplifting news.

[blueblood] 12/4/2024 09:36

Good volume since yesterday news on debt leaking?

[blueblood] 12/4/2024 09:10

That's the most likely outcome

[currypasty] 12/4/2024 09:07

thanks blue, i guess all they can do is roll it over another 6 months, and give more away...

[blueblood] 12/4/2024 08:59

The debt expires today they have to tell us it's been renegotiated!

[blueblood] 11/4/2024 19:27

Debt update tomorrow let's hope a few of the buyers had inclination of what it is!

[odillon] 11/4/2024 18:53

There is a trade of almost 25,000,000 shares showing at 5:05 pm I think that was the biggest trade of the day.

[odillon] 11/4/2024 18:47

It is now saying 135 million. According to marketbeat the average is about 18 million.

I have no funds to buy just now and have held my ground with Coro rather than selling and I hope that turns OK

[nithbank] 11/4/2024 17:06

125m shares traded l. Someone knows something about something.

[currypasty] 11/4/2024 09:53

few buys shown today.. bit risky unless you know the outcome of the debt situation.. due next week ?

[begorrah88] 08/4/2024 14:48

Someone keen to get out before any announcement about the debt renegotiations gets announced.I'd like to think it is just someone getting nervous about not having heard anything yet but my gut tells me it's probably people who know what's coming.

[digger2779] 05/4/2024 16:57

That individual Robert Finney's current stake is worth about £180k. Hope he doesn't decide to dump them any time soon.

[jason90] 29/3/2024 09:00

Conrad, Coro and EME really should all be on the same page by now.

[odillon] 28/3/2024 22:39

SW - I think it likely that we are generally in agreement, but rowing in the same direction in different kayaks.

I would like to see all three companies producing tables with the same numbers, so that shareholders are properly advised. At the moment there is anomaly which is significant.

I would also like to see a timeline showing when Conrad received the updated reserves and resource figures from GCA.

Conrad cannot have produced the first report of 1 July 2023 based on GCA figures provided in the next month, unless there was time travel.

Perhaps both EME and Coro have mistakenly referred to a 1 July Report that does not exist? it is feasible that they have dates wrong as well as data.

[steelwatch] 28/3/2024 18:05

Odillon, then we must agree to differ.

[odillon] 28/3/2024 17:48

The Coro RNS states;

"In its announcement, the Operator provided an update in respect of, inter alia, Mako Gas Field reserves and resources as of 31 December 2023 following receipt by the Operator of an updated reserves and resources report (the "Update Report") prepared by Gaffney, Cline & Associates (Consultants) Pte Ltd ("GCA") in which GCA has updated its assessment of resources for current expectations of Final Investment Decision and production commencement delay. The Update Report follows an earlier 1st July 2022 GCA reserves and resource report."

I believe that the 26 August report may be something other than a "reserves and resources" report

[odillon] 28/3/2024 17:28

There may well be multiple reports from GCA at various dates, but the key issues at the moment are that Coro and EME have released RNS's with conflicting figures and that information that on the face of it was available (to Conrad at least) in December was not released until almost three months later

[steelwatch] 28/3/2024 16:11

GCA compiled their updated report from figures provided to them "as of". I think you'll come to see these reports take a while after receipt of data to compile.

From Conrad's website, they indicate the earlier report is dated:

"1) Competent Person’s Report (CPR) for Duyung by Gaffney, Cline & Associates (GaffneyCline) 26 August 2022. Resources attributable to Conrad are based on Conrad's participating interest of 76.5% in the Duyung PSC."

In the former case, nearly 2 months after 1 July.

About halfway down:

[odillon] 28/3/2024 15:05

Hi Steelwatch. I am working from the Coro RNS and the EME RNS of today. Both referred in tables to two reports one on 1 July 2022 and an update dated 31 December 2023.

Both make various downward resource estimates. I have just noticed they have different figures. For example where EME say the high case from the 31 December report is 425 and 3.8 per cent down from 1 July 2022 Coro say it is 591 and 24.1 percent down.

Perhaps it is down from 591 to 425. But I think that would be 28 per cent.

Whatever the correct figures I think you may be right that Coro and EME only leaned of then today. Which may explain why mistakes have been made in the rush to get the information out.

[steelwatch] 28/3/2024 13:34

Not dated 31 December. From today's EME RNS:

"In its Annual Report, Conrad also provided an update in respect of, inter alia, Mako Gas Field reserves and resources as of 31 December 2023 following of an updated reserves and resources report (the "Update Report") prepared by Gaffney, Cline & Associates (Consultants) Pte Ltd ("GCA") in which GCA has updated its assessment of resources for current expectations of Final Investment Decision and production commencement delay."

Conrad's Annual Report was announced yesterday at 09:37 Australian time. Allowing for 11hrs time difference, would have come after hours UK time, so this morning's announcements from both CORO and EME came at the earliest opportunity.

[digger2779] 28/3/2024 13:32

Odillon28 Mar '24 - 12:12 - 5266 of 5266

I was thinking the same about the report. Can't see an announcement for it over at CRD website or the ASX. Surely it was price sensitive and needed to be disclosed especially when they got a placing completed 2/2/24!
Also noticed the gross resources quoted by Coro today are at odds with the gross resources quoted by Eme.
The most glaring difference is the 3c data, Coro resources state 591 with a 24.1% drop
whereas Eme state 425 with a 3.8% drop.
I've dropped CRD a line to see if they can clarify what's going on but I'm not holding my breath.