Empyrean Energy Share Discussion Threads

[smackeraim] 30/12/2021 14:00

Placing churn is clearing now imo

[bengal1] 30/12/2021 13:27

Fingers crossed.

[judijudi] 30/12/2021 13:26

Bengal,
It’s been on its way for months
Has to land one day

[bengal1] 30/12/2021 13:21

News on way JJ from various articles

[currypasty] 30/12/2021 13:15

is there any way of finding out about the GSC's other than waiting to see if Conrad will grace us with a snippet of info?

Any info from the potential buyers / other parties?

[bengal1] 30/12/2021 12:50

Moves a foot... Coro up, news on its way perhaps??

[smackeraim] 30/12/2021 12:45

Probably around right price for top ups now

[digger2779] 30/12/2021 12:22

For what it's worth here Coro continues to go North.

[starzerus] 29/12/2021 13:45

lol funniest thing i have heard Mr Pot Kettle.

happy Christmas.

[begorrah88] 29/12/2021 12:40

StarzerusYou just can't let it go can you?People looking to have a more harmonic board but you've got to kick off........

[buzzzzzzzz] 29/12/2021 12:29

Laz

Hear hear!

[starzerus] 29/12/2021 12:29

who Begorrah?

[lazarus2010] 29/12/2021 12:08

Buzzz, excellent idea. He can then moderate the BB, ban anybody who disagrees with him or dares to correct his posts!

There's generally only one poster who resorts to puerile personal attacks on other posters and doesn't like anybody retaliating!

[buzzzzzzzz] 29/12/2021 11:42

Safiande

Why don't you set up your own thread where you can post in splendid isolation and anyone who agrees with you can follow you there.

[lazarus2010] 29/12/2021 10:32

Bobdob...presumably rig can operate in adverse conditions but there will be a limit for mobilisation and positioning.

Site survey I would think is mostly to ensure they don't put the legs on a cable, pipe or in a hole imho

[bobdobalina] 29/12/2021 10:21

This site survey,I take it it's to identify hazards and find the exact best spot to spud ?????
Also with the sea swells would there be a level which is too big for the rig to work safely in,or even have to leave site in ???
I realise they're designed for purpose but it's not gonna be a north sea sized set up eh 🤷‍a94;️
TIA

[lazarus2010] 29/12/2021 09:55

Seems that somebody is trying to divide this BB.

Doesn't seem to be working

Coro in the news, which impacts EME.

Are we ever going to get a weather window for this survey?!

Are we going to get a GSA in Jan 22 or Jan 23??!!

Is peace and harmony going to break out on the BB?

These questions and more will be answered in the next episode...

Happy New Year everybody, may it be a rewarding one!

[blocker2] 29/12/2021 08:07

Someone likes CORO this morning

[safiande] 28/12/2021 20:43

Tarz,

Thank you for your reply.
I know that Maggie died in July as I often send you a post at that time. The reference this time was simply to the fact that it is Christmas and I remember that you told me that you think of her every day hence my message " thoughts to Maggie at this time ".

[starzerus] 28/12/2021 20:30

Saf - To be honest

Number 1 I will not pay ADVFN any monthly fee after the experience i had with them when cancelling my Blue status and them till taking monies from.
Number 2 - I really do not have the time or inclination to get that involved in running a BB on here again and all the stress of dealing with the troll types and attempting to Poliee them.
Number three - Maggie Died in July 2009 so I don't understand where that comment was coming from.

[starzerus] 28/12/2021 11:39

hmm
It looks as though 2022 will firmly see Duyung back on investors’ radar. Hopefully there will soon be news on the Gas Sales Agreement (GSA) which has been the subject of many rumours, already there is in place a Heads of Agreement with gas buyer in Singapore.

[starzerus] 28/12/2021 11:38

From the Align research note reference to CORO

Technically low risk large gas field

Duyung PSC is positioned to supply gas to Singapore where premium prices are paid. Certainly, Duyung PSC’s Mako Gas Field is one of the largest gas fields ever discovered in the West Natuna Basin, offshore Indonesia. It is a shallow single tank deposit that is technically low risk. Gas production could start as early as 2024.

There are many ways Coro could fund its share of the development of the Duyung PSC. Management have plenty of confidence in funding with their proven institutional connections. Operator Conrad Petroleum’s current 76.5% holding might be a larger stake than they would want to finance in the development of the project, which could well result in a farm out deal with another E&P company. In such a farm out Coro might well tag along and perhaps get a development carry if they liked the valuation. Or the company might raise fresh capital at that stage and perhaps restructure its debt. If there was a farm-out and Coro tagged along and if the development was project financed on a 40% equity and 60% debt basis, the sort of investment required by company would most likely be in the region of US$10 – 15 million and not US$20 – 40 million.


There has not been much news out of Duyung in 2021. However, the operator Conrad Petroleum is reported to be doing a good job on keeping it moving although COVID does stop face to face meetings. Conrad has been moving the project forward with its work updating the development plan. It looks as though 2022 will firmly see Duyung back on investors’ radar. Hopefully there will soon be news on the Gas Sales Agreement (GSA) which has been the subject of many rumours, already there is in place a Heads of Agreement with gas buyer in Singapore. This does need a better understanding of the volumes so the revised Plan of Development (PoD) needs to come first, as there may be some domestic production obligation and then the partners will have a proper understanding of the gas volumes that can be exported. With FID now most likely to happen in 2022 after a 2-year development, gas production could begin as early as 2024.

Moving into 2022, it does look all to becoming together quite neatly at Coro. We initiated coverage on the company in December 2020 with a Conviction Buy stance when the shares were trading at 0.275p with a target price of 1.50p. At the current price of 0.28p, we have full confidence in reconfirming our stance.