Coro Energy Share Discussion Threads

[blueblood] 12/8/2020 11:17

Duyung news must be close now. GLA

[blueblood] 07/8/2020 13:54

Well they bloody well should ffs! It's hard enough in news vacuum without them being on top of comms! Just hoping we get GSA signed this month before asset sale before Xmas.

[currypasty] 06/8/2020 09:12

perhaps the main coro board don't know yet what subsidiary been up too?

[blueblood] 06/8/2020 08:59

News out at SOU that has direct link to CORO. Not sure why we haven't had RNS but looks like it removes potential future liabilities from us by selling old Italian asset that had decommissioning costs.

[helpfull] 05/8/2020 10:44

Have you seen what has gone on at Ascent Resources? 4 RNSs in one day after the market has closed. A significant investor has been selling down their holding over three months,March, April and May, whilst AST had two cash raises at 5p and 2.75p. The share price there has fallen to 2.25p. Investors were not informed of the share sales until 3rd August. What has that to do with Coro? Well, Parsons and Dennan are in charge there too. It is interesting how they allow shareholders to be treated. Be careful. Coro is no more than a ghost ship, an unworthy investment. There are people who don't want you to know Coro shares have no value for the ordinary investor. It has fallen 95% in value and the next move is likely to be another downward movement. It is essentially a shell protecting the loan repayment and the loan repayment interest. There are some who would hide the truth. "Steelwatch" stops the ordinary person from posting on here with company bilge. He does the same on Echo Energy. Is he a company tool? The same happens on LSE. It is detrimental to the wealth of ordinary shareholders. When the truth is deliberately hidden it is time to bail.

[helpfull] 03/8/2020 08:01

All those discontinued operations to be added back onto the results sheet. Would the losses for last year be $16,000,000 now rather than half that? Cash will be getting burned. Parsons and Dennan will be working like mad to steady the ship won't they? Or maybe not. Parsons only received $81,000 last year as a Coro BOD and had to take executive positions at RGM and AST to help his income stream. How much time can he give to Coro? What about Dennan? Well be is CEO at AST and needs to give that his full attention. Along with being a BOD at NUOG where he is working to find a RTO candidate to get the company out of suspension. How much will he be getting at Coro? $81,000 like Parsons? Or only $51,000 like Marco and Fiona? Do any care about Coro shareholders? Or is the loan interest payment next March and the loan repayment the main concern. Cash badly needed. Be careful.

[helpfull] 01/8/2020 08:29

Good news in short order at Coro Energy. The Italian assets which cannot be sold are indicative of the problem which many small, cash strapped O&G companies come up against. The cost of production and maintenance is far higher than revenues received and then swamped by administration costs. Reserves in the ground are meaningless if they cannot be extracted profitably. The Italian assets push Coro into losses and will eat up any cash reserves. The loan, interest payments and repayment of the loan, are another matter. The dumping of the CEO indicates Coro Energy is solely concentrating on servicing of the loan. There is no future for the company. The Duyung asset will be offloaded to repay the loan. My guess is to the original seller. The only intention by the BOD will be to recover the loan, shareholders will not be a consideration. Cash is needed now. Cash just to keep the company going. Worthless to shareholders. Be careful.

[blueblood] 31/7/2020 10:47

Just need it sold and debt repaid. Money in the bank in this market is top priority.

[blakieboy7] 31/7/2020 09:27

Duyung is definitely not a rotten carrot

[blocker2] 31/7/2020 08:16

Duyung, a rotten carrot..........

[helpfull] 31/7/2020 07:52

Third quarter well and truly on. Great news with the Italian assets. Couldn't even give them away. All those losses will have to be added back onto the accounts. That little bit of cash will now be wiped out. Bet Menzies will be glad to have pocketed his compo. The Italian assets are a bust. Didn't Parsons sell those to Coro when at Sound Energy. Accounts need to be restated. Cash raise was needed by September 2020. More so now. Don't believe all that is said about Duyung. That carrot is rotten. Conserved cash in order to pay loan interest in March 2021. The number one priority. Repayment of loan the only game in town. Fire sale signpost erected. Nothing for shareholders here.

[blueblood] 28/7/2020 12:27

Q3 for Duyung sale tic toc

[helpfull] 28/7/2020 12:25

I would advise everyone to research this company with the same vigour that they research my posting history. There is no certainty that the share of the Duyung asset can be sold never mind at a profit. Of course Conrad owns the mainpart and appears capable of offloading a few percent here and there when needed. Duyung is as far away from commercialisation as ever. A good example of the route for Coro Energy shareholders is what is happening at Echo Energy and what has happened at Sound Energy. Killed by loan.

[digger2779] 28/7/2020 11:31

Helpfull not being very helpful.
Only created account on 6th July and seems to be on a mission against Parsons which I understand and Malcy.
As bb says this will need to be sold to repay loan and should leave plenty of cash in the kitty.

[blueblood] 28/7/2020 11:11

They have also got very promising asset in Malaysia but need Duyung to be sold to repay all debt before any development plan. Would expect debt to be more than covered even at firesale prices which our partners will not be looking for!

[helpfull] 28/7/2020 08:46

If there was any chance of a Duyung asset sale the CEO, Menzies, would still be in position and Coro Energy would be still open for business. It is not. The blinds are shut. Next news is a cash raise. Payment of interest on the loan next March is the main use of what cash is left.

[10owen] 27/7/2020 15:02

I see helpfull has panicked someone to sell 14k shares unless of course they were his/hers.

[helpfull] 27/7/2020 14:53

It would appear all the lemons are jumping off the cliff because they have seen the lemmings doing the same at EME. If they knew anything they wouldn't be in EME. Some used the rise to exit there. Coro has no CEO and needs to raise cash. The Duyung asset, if it can be sold in the current climate,will not raise enough to pay for the debt. Big trouble looming for the share price.

[blueblood] 27/7/2020 14:39

MMs killed it dead but don't know how they will hold it back on Duyung sale. Multi-bagger on news day very realistic

[blueblood] 27/7/2020 13:07

Why won't mom's make a market stupid 20% spread putting off new buyers now!

[currypasty] 27/7/2020 12:16

I had 500k this morning too Stewart... its a gamble, but if eme get anything like 30m for Duyung, Coro with a bigger % will be able to pay the debt off, and be left with a huge wadge of cash, making todays market cap silly..

[stewart4990] 27/7/2020 11:41

Well i just doubled my holding here, seem too cheap with news on Duyung due, eme flying