Empyrean Energy Share Discussion Threads

[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.

[the donald] 28/12/2021 11:04

Goes to show how undervalued both CORO and EME are.

[zombi3] 28/12/2021 10:07

hxxp://www.alignresearch.co.uk/align-research/align-research-top-10-conviction-calls-for-2022/
Coro energy is in align research top 10 for 2022

[blakieboy7] 27/12/2021 17:47

Brent crude up to over 78 dollars

[judijudi] 27/12/2021 09:03

SCS future wave height forecast not looking good anytime soon 😩
I wonder if they started last week? 🤞🤞
Roll on Duyung news in the interim 😀

[blakieboy7] 26/12/2021 09:46

htTps://oilprice.com/Energy/Crude-Oil/Southeast-Asias-Oil-And-Gas-Output-May-Never-Recover-To-Pre-COVID-Levels.amp.html

[lowsulpher1] 25/12/2021 19:56

Hi ALL longsuffering share holders wishing all a happy Christmas and a prosperous new year it should be a very good one with the sale of DYUNG and a successful drilling campaign in China good luck to all.

[noobiedoobie] 25/12/2021 08:14

Ok so. Eme

End June rise,

vol average started around 800k
trade average around 21

Days when volume and trades exceeded averages same time with closing prices

23 June 6.15p
24 June 6.2p
28 June 6.5p
30 June 6.98p
1 July 6.55p
5 July 7.1p
6 July 7.9p
7 July 8.2p
8 July 8.5p

Then placing news ended rise

Next up September rise

Vol average around 1.3m
Trade average 27

As above..

8 sept 5.6p
9 sept 6.05p
13 sept 6.35p
14 sept 6.2p
16 sept 6.5p
17 sept 6.85p
20 sept 7p

That was AGM cycle

Next up start October

Vol average around 1.3m
Trade average 30

5 Oct 7.35p
6 Oct 7.85p
7 Oct 7.7p
8 Oct 7.8p
11 Oct 8.6p
12 Oct 8.9p
13 Oct 9p

Technical cycle end

Currently vol average >2m, trade average 38
Both still need relaxing before becomes easy to move

[noobiedoobie] 25/12/2021 07:04

Any sustained trend in any company requires

Volume exceeding 20 day average volume

Number of trades exceeding 20 day average number of trades

Mr Tom and other insiders know this. No point moaning about price. Companies can only do so much with newsflow but these volume and trade conditions need to be satisfied for price to move. Hence why you do yourselves no favours by encouraging buyers in first 1-2 months after a major peak as you need that time to relax average volume and trades, then there will be plenty ready buyers to plug in once they have relaxed to more easily movable combination.

[blakieboy7] 24/12/2021 19:43

Gents, it's Xmas!! Have a good one and here's to a fantastic 2022!!

[buzzzzzzzz] 24/12/2021 19:38

Excuse me!!!

You accused him of being a plant of EME on this BB because he posted in support of management!

[begorrah88] 24/12/2021 18:51

'Tirade against toon'?!Nothing of the sortToon is one of the few on here that has the smarts to engage in debate & disagree with others opinions without the need to take personal offence.If only this thread had more posters like him.Well done to the genuine, open minded, pragmatic and happy to accommodate others views, posters that keep this place sane.You know who you are.Let's hope for better times ahead.

[digger2779] 24/12/2021 15:51

Merry Christmas and a happy, wealthy but above all HEALTHY New Year to all.

[the donald] 24/12/2021 13:35

Yeah, Happy Christmas all. Next year will either be a very average year or a hugely successful one, either way stay safe and enjoy the festivities.

[lazarus2010] 24/12/2021 13:13

There's not much worse than an intellectual fool. Clearly you bring some good stuff to the table Saf, but you're an intolerant tw*t...choose a or i as appropriate.

Happy Christmas to everybody else, may we all have a very successful New Year.

[begorrah88] 24/12/2021 12:53

I echo the sentiments so perfectly expressed by Judijudi

[nametrade] 24/12/2021 12:36

Shows narrow mindedness there Safiande with your us and them mentality. This is a board to express opinions and share research. Yes there are always bellends too the extremes as in all walks of life.
I am a shareholder here and if I have an opinion I'm just as entitled to write a post as anyone else.

Please let us all know your "rules" for posting.

[michmcd] 24/12/2021 11:55

Frustrating year in many ways - BUT - onwards and upwards with a Q1 drill and test. We could all be wealthy come Easter.

Merry Christmas. Yippee ki yay MF's.

[starzerus] 24/12/2021 09:06

maybe they are trying to get you a better price Bengal.

[bengal1] 24/12/2021 08:08

The selling continues... Why?

[blakieboy7] 23/12/2021 20:05

Oil price creeping up hTtps://oilprice.com/Energy/Energy-General/Tight-Crude-Inventories-Push-Oil-Prices-Back-To-Mid-70s.amp.html