Coro Energy Share Discussion Threads

[blueblood] 28/5/2020 15:33

New brokers note for EME. At very conservative $6mcf gives Duyung asset valuation of $220m and at more realistic $10mcf a $480m. For CORO that's between $33m & $72m. We have outstanding debt of c€25m. At the mid point this would clear debt and leave us with cash of c£20m plus current cash & Malaysia. This is equivalent to so in excess of 3p for mid case.

[mojad5] 26/5/2020 07:21

"Very material upside for shareholders" - I like those words :)

[nithbank] 26/5/2020 07:11

Brilliant news release.

[blueblood] 25/5/2020 19:46

Asset value $400m for 0.5TCF. Would leave CORO with c£20m after paying off €25m Eurobond. This would equate to c2.5pps cash without anything for Malaysia or bank.

[blueblood] 25/5/2020 19:39

Quick calc

[deanmatlazin] 25/5/2020 17:25

Miltos Xynogalas, CEO, commented:“The GCA audit results are extremely gratifying not only because they confirm the large resources of the Mako Field, but also because they endorse the high-quality technical work performed by Conrad. Over the last three years, the company drilled three successful wells and undertook numerous rigorous technical studies. Our efforts, supported by our joint venture partners, have proven the high value resources of the Mako accumulation and have brought the field closer to development. It is a tremendous achievement for a relatively young company such as Conrad to be able to identify and mature almost 0.5 Tcf of gas resources at Mako, resources that lie close to existing infrastructure and well-established gas markets. The Company is now positioned to take the project to FID, the next and very critical milestone in our road map to production.”

David Johnson, Executive Chairman, said:“Mako has the potential to deliver gas to address both the aspirations of the Indonesian government and pipeline gas needs of the Singaporean market. We look forward to the development of a domestic Indonesian market for West Natuna gas and are excited to work with Singapore to extend the fruitful partnership between Indonesian-based West Natuna producers and Singapore-based gas users.”

About the Duyung PSC

The Duyung PSC covers approximately 890 km2in the Riau Islands province, situated in the offshore Indonesian waters of the Natuna Sea. It is close to the West Natuna Transportation System (WNTS), a natural gas pipeline connecting three producing blocks in Natuna Sea to Singapore. WNTS currently supplies approximately 0.4 billion cubic feet (Bcf) of natural gas per day to Singapore. Conrad is the operator and owns a 76.5% participating interest in Duyung. Its partners Coro Energy Plc and Empyrean Energy Plc own participating interests of 15% and 8.5%, respectively.

[deanmatlazin] 25/5/2020 17:22

Current market cap is a pittance compare to 13Mmboe for CORO. I have calculated the value...it is worth over $500million dollars to CORO if selling the gas at full market price.

[deanmatlazin] 25/5/2020 17:15

GCA's audit, dated 22ndMay, 2020, confirmed Conrad's internal resource estimates and provided a significant upgrade for the Mako Gas Field compared to their previous audit of January 2019. The 2C (contingent) recoverable resource estimates have been increased to 495Bcf, an increase of approximately 79% compared with the 2019 audit. In the upside case, the 3C (contingent) resources have increased by approximately 108% compared with the 2019 audit. With the latest upgrade, Mako has been shown to be one of the largest gas fields ever discovered in West Natuna Basin, and is currently by far the largest undeveloped resource in the immediate area

[pb01] 25/5/2020 16:39

Excellent upgrade CPR report. Coro looks too cheap at 0.5 p. Big re rate coming.

[blueblood] 25/5/2020 16:01

Should be great week coming up 2C of 0.5 TCF confirmed by Gaffney! Multi bagger incoming boom?

[mrzippo] 25/5/2020 12:52

Conrad have released GCA numbers on Duyunghttps://oilvoice.com/Press/43176/Conrad-Petroleum-Announces-the-Completion-of-Internal-Study-and-3rd-Party-Audit-Confirming-Significant-Resource-Upgrade

[digger2779] 23/5/2020 11:59

SP got a long way to go from when I first bought in thinking that was the bottom. Also topped up when I thought it couldn't go any lower considering what the Duyung prospect was supposed to be worth. Bring on the independent report and get it sold.

[deanmatlazin] 23/5/2020 09:57

Interesting small company. If new 2C reserve upgrade conform 500Bcf ( 88MMboe ) CORO will have 13MMboe) . With the gas price generally sold higher in Southeast Asia I can see the share price should be multiple from current level when the production begin.

[blueblood] 22/5/2020 16:51

Great day and nice finish. Expecting more next week in run up to GCA reserves update release.

[semaj2000] 22/5/2020 15:15

Coro Energy completes stake acquisition of Duyung PSC -

[burtond1] 22/5/2020 11:55

Here, @DDS_DocHoliday caught up with independent oil analyst @mgrahamwood to discuss the latest developments in the oil environment and look through opportunities that may exist in the market...#SAVE #PPC #PHAR #CORO #PRD #DGOC #WEN #AEX #LBE #SQZ #RREhttps://twitter.com/tmsreach/status/1263784541191237632?s=21

[blueblood] 22/5/2020 11:18

A confirmed 600bcf asset sale (90bcf to CORO) should be more than enough to repay Eurobond and leave CORO cashed up to tune of 4-5 times current mcap. Remember they already have Singapore buyer lined up.

[10owen] 22/5/2020 08:49

As a fellow long term Eme shareholder thought I would show support for Stew And Blue and buy a few of these as well.Good luck guys.

[blueblood] 22/5/2020 08:38

Hi Stew had some tops up in 30s here so bring on Gaffney reserves upgrade next week

[stewart4990] 22/5/2020 08:29

Just bought back in here, looks cheap, not huge but enough, main holding in eme but like the current price of Coro, worth a punt.

[toolsmoker] 22/5/2020 07:25

Upgrade next week it is then .cant believe we are still at these depressed levels

[hisonaam] 22/5/2020 07:24

RNS Released :)

Duyung PSC Acquisition Completion, Indonesia

Coro Energy plc, the Southeast Asian focused upstream oil and gas company, is pleased to announce that all necessary Indonesian regulatory approvals for the transfer of title of the 15% direct interest in the Duyung PSC (the "PSC Interest") to Coro have now been received. Accordingly, final completion of the acquisition of the PSC Interest by the Company from West Natuna Exploration Ltd has now been achieved.

The license holders of the Duyung PSC are now Conrad Petroleum Ltd (76.5% operated interest), Coro (15% non-operated interest) and Empyrean Energy plc (8.5% non-operated interest).

The Company looks forward to the publication of the revised independent reserve audit report from Gaffney Cline & Associates following the successful appraisal drilling campaign in the fourth quarter of 2019, which is expected to be announced later in the month.

[blueblood] 21/5/2020 09:36

Nice to see some blue over there but want this to move back up towards realistic level soon!