Empyrean Energy Share Discussion Threads

[judijudi] 16/4/2024 08:49

Maybe because Conrad have continually failed over the years to hit any timeline targets they themselves have set

[blakieboy7] 16/4/2024 08:17

Saf Coro have marked that date with an asterisk and advised it's estimated. Not sure why they would guess many months into the future vs Conrad?! Odd

[safiande] 15/4/2024 16:48

Updated presentation today 15 Apr from Coro.
GSA approvals & Farm out bid this qtr.
FID ( Coro timeline )appears to have slipped to Q1 2025 which is clearly incorrect. FID as per Conrad is mid 2024 to meet first prod in mid 2026.

[odillon] 12/4/2024 18:49

Sorry about the extra zeros Stewart - I hope that you didn't book a holiday of a lifetime!

[blakieboy7] 12/4/2024 17:37

htTps://www.proactiveinvestors.co.uk/companies/news/1045208/coro-energy-welcomes-eurobond-standstill-letter-1045208.html

[blakieboy7] 12/4/2024 17:31

Saf, if Eme could stay in Duyung, with a small percentage, that might be better for company survival rather than going on all in on China

[safiande] 12/4/2024 16:56

Blakie,

You didn´t have the courtesy of commenting on our reply to your question yesterday on funding development capital. Our reply included the possibility of using maiden reserves which they can book at FID in mid year. You can be sure that Coro is doing the right thing in employing a specialist adviser to assist in a debt solution which could include using reserves backed funding. As mentioned yesterday, it could well be a collective solution for Conrad & EME also for their portion of development expenditure. Even if there is a farm down, remaining capital costs will still need to be covered. Current overall capex at 100% is US$325m mainly for the new 60km pipeline and the wells. Capex to advance revenue from the 2 dry tree wells is US$250m.

[stewart4990] 12/4/2024 16:33

Yes 8.5%, still on the ground thinking what have I missed 600 Billion, ah 6 Billion

[safiande] 12/4/2024 16:18

Coro RNS just out confirming that they are finalising contractual arrangements with a specialist, London-based, E&P financial advisor to assist procuring a debt solution for its element of the required development capital at Mako.
Could indicate that they plan to stay in at least partially and maybe just for the first 5 - 7 years when cash flow is at its highest Does not mean that EME plan to do the same as Coro as EME still has Topaz as far as we are aware. Depending on any farm down Coro´s equity is of course higher than EME´s 8.5%.

[blakieboy7] 12/4/2024 16:14

RNS out on Coro for anyone interested re loan standstill

[judijudi] 12/4/2024 13:11

It’s got to be a distinct possibility with this shower running EME

[odillon] 12/4/2024 12:12

It would be exasperating in the extreme if EME have done and paid for all the surveying and for Jade and then Cnooc took the prize.

[judijudi] 12/4/2024 11:19

Squandering our money as they have been for years!

[blueblood] 12/4/2024 10:16

What a load of rubbish this is turning out to be with Topaz updates nowhere to be seen. What the hell are the grewsome twosome doing to earn any pay!

[safiande] 11/4/2024 17:45

Won´t embarrass you blakie. Now your view on the reply to you on funding is what exactly?
Lol!

" Funding of capex is of course an issue for all of the partners not least Conrad. Even if they farm down to 50% they will still need extra funding which they are addressing at the moment ( maybe collectively with Coro & EME ) as per this week´s annual report, prior to any sale & of course FID in mid year. Obviously they can borrow against maiden reserves which can be booked at this time in mid year to cover such capital costs.

If EME fail again to find a JV partner how are they gonna fund Topaz assuming that it is not already a gonna with the passage of time? What do you think costs more, either 100% of Topaz or 8.5% of Mako? Lol!

[blakieboy7] 11/4/2024 17:38

Oooooh my reputation?! Do tell

[safiande] 11/4/2024 17:12

Blakie,

OK but for years you have been telling folk to quieten it down on here which is none of your business particularly in view of your reputation.

Anyway what about a view on the sober part of the reply to you namely:-

"Funding of capex is of course an issue for all of the partners not least Conrad. Even if they farm down to 50% they will still need extra funding which they are addressing at the moment ( maybe collectively with Coro & EME ) as per this week´s annual report, prior to any sale & of course FID in mid year. Obviously they can borrow against maiden reserves which can be booked at this time in mid year to cover such capital costs.

If EME fail again to find a JV partner how are they gonna fund Topaz assuming that it is not already a gonna with the passage of time? What do you think costs more, either 100% of Topaz or 8.5% of Mako? Lol!

[odillon] 11/4/2024 17:11

Saf yes it is 6 billion not 600 billion.

So your figures were out by over 2 billion dollars.

the Donald, (if you are out there) you are good with figures and currencies. Is your guess at the net sale figure for EME's share still about £29 million

[odillon] 11/4/2024 16:54

My mistake Saf I thought the reply was directed at me, but I agree with Blakie that your reply to him was not warranted. He reasonably suggested reining in the tone of discussion to avoid offending those who might be offended and that was a fair point.