Coro Energy Share Discussion Threads

[aimsurfer] 28/2/2020 07:38

New Q1 2020 presentation out on the companies website for anyone interested. Looks like new CPR should come out sometime in March.

[steelwatch] 26/2/2020 12:42

Thanks for the youtube link AimSurfer. It is now available in the header above. For those using advfn's mobile app, you will probably need to access the site via your browser to see it.

[wright10_10] 26/2/2020 12:08

I’m just about to do the same.....

[aimsurfer] 26/2/2020 11:28

I've taken opportunity of this drop and added more.

[aimsurfer] 26/2/2020 07:25

The focus for me here is what James Menzies is aiming to achieve, his complete focus is on Asia Pacific. The attempt they made to acquire Ophir shows exactly the type of opportunities they are willing to go after. With his knowledge and experience working in the area over the years I'm confident he can get a deal over the line on a producing asset from majors who are stepping away. Many junior player's are stepping in here, Jadestone has a similar strategy in Asia, they are probably 1-2 years ahead in their development. Serica, Rockrose have been following similar strategy in the North sea rather successfully. Luckily I was invested in both.From past posts I can see there are a few disappointed ex Sound Energy holders, I don't blame them. Unfortunately lost out myself many times to incompetent AIM management. However I got involved her because I feel it's JM now who is in charge and his past experience has been rather successfully with Salamander Energy so hopefully he repeats it again.Best of luck to all with their decisions, hopefully we all make a bit of dosh either invested here or elsewhere.

[blueblood] 26/2/2020 07:01

Thanks Aim. Good to know they have $6-7m left in bank plus Duyung in short term.

[aimsurfer] 26/2/2020 00:29

https://youtu.be/JIT_dtOhiYc New interview for those interested.

[wright10_10] 24/2/2020 15:57

I absolutely agree, I need to probably try and understand what I’m doing here and research the companies. I really appreciate your reply :) fingers crossed the new CEO delivers! I will keep my eye on things. Thanks again AimSurfer.

[aimsurfer] 24/2/2020 14:44

Going forward I would strongly suggest doing a bit more research :) In this case with CORO they don't need any imminent funds, JM new CEO is looking at opportunities in Asia where there seems to be plenty for those who bother to research. My personal opinion is that there is a strong chance that JM will deliver and liquidity should return here. With any hint of positive news I expect this share price to bounce straight back to 2p.

[canigou2] 14/2/2020 18:31

I hope your're right. Good luck, but I've ditched my COROs this week. I'm fed up of funding the lifestyles of under performing executives!

[blueblood] 14/2/2020 17:19

All funding issues will disappear when Duyung in sold in the Summer imo!

[mermaidbeach] 13/2/2020 17:23

You guys not worried about the selling on Coro, HL may not be the only ones getting rid although the Duyung Drill is looking like a success the funding keeps coming back I dumped mine before Xmas at a much higher price than now and just managed to get a bit more than breakeven keep looking in on it but not going to buy back as I came across this on LSE BB says it all, in the haste to do deals they have missed the point regarding finance costs and they need to pay a big lump back this year.

Well the company issued 22,500,000 in Euro bonds. These were split into two tranches, A and B (11,250,000 Euro each). The former earns interest at 5% payable each year. That's 562,500 Euro each year or 1,687,500 Euro over the 3 year lifetime of the bonds. The latter tranche receives the same amount at the end of the 3 year period, 1,687,500 euro.

The 22,500,000 Euro bonds have been issued at 85% of par value. So only 19,125,000 Euro is actually given to the company, or 9,562,5000 Euro per tranche. (The interest is still paid on 11,250,000 Euro figure).

A 7% origination fee, calculated on the subscription price, is paid to the subscribers. That is 1,575,000 Euro or 787,500 Euro per tranche.

In total, 22,500,000 euro is raised. But the actual figure is : 22,500,000 x 85% = 19,125,000 - 1,575,000 = 17,550,000 euro. If the interest earned over the three year period removed that figure falls to 17,550,000 - 3,375,000 = 14,125,000 Euro or 7,062,500 Euro per tranche. Of course the 22,500,000 Euro or 11,500,000 Euro per tranche is repaid in full. That's a 37% interest rate or the same as credit card interest without the safeguards. Crazy!. And are the warrants and hundreds of millions of new shares to be ignored? Shameful. And the sad part is that the company expects further cash to be raised in September 2020, that's this year. Can't wait.

[laptop15] 07/2/2020 14:25

Agreed digger it looks like lots have got spooked here, news needed. There should be some this quarter too

[digger2779] 07/2/2020 14:21

Laptop - hard to tell but just looking at yesterday's trades if ADVFN have got the sells in the right column then 16 million sold. Hopefully not more to come but who knows. That big sell off has spooked punters and maybe triggered stop losses as well.

[laptop15] 07/2/2020 13:49

Wonder how many have been sold so far digger??

[digger2779] 07/2/2020 12:22

This was posted on EME board
"
According to David Burton of Total Market Solutions who follows Coro their drop is due to a major seller namely HL Invest:-

"The City “rumour” is @HLInvest (retail thrown in the towel?) are the seller (badly!) of maybe up to 16m shares...

...so keep an eye out, as when finished #CORO should bounce hard and fast."

[stewart4990] 07/2/2020 12:01

Just bought 100k, apologies 60k

[laptop15] 07/2/2020 10:44

Timed my buy badly here too...lol...ffs..getting sillylow now isn't

[canigou2] 06/2/2020 16:35

A bit of a f?ck up this one, beginning to regret my purchase.

The failure at Bulu is having a big negative impact on the share price and investor confidence. That was a costly exercise (time=money of course) and is a stain on their ongoing ability to identify the right projects to pursue their stated strategy.

Of course it is still early days with CORO and I hope they can turn this around with some positive imminent news flow, but the early signs are not good.

I've lost count of the many grossly "undervalued" small-cap oilies that are out there. Many of whom continue to lose shareholder value for many years whilst the directors prosper, and eventually capitulate or merely fizzle. Last chance saloon already I'm afraid, otherwise i'll take the loss an move on .... :(

[stewart4990] 06/2/2020 15:55

Well there are some large sells today, someone wants out and are getting hammered on price, I will remain as not got that many, not worth selling at this price.

[blueblood] 06/2/2020 09:30

The cancellation of Bula saved $7m cash and surely they wouldn't raise before getting Duyung reserves upgrade out!

[digger2779] 06/2/2020 09:26

Smacks of forward selling for a fundraising.