Empyrean Energy Share Discussion Threads

[currypasty] 20/5/2022 11:17

perhaps 30 million on a fire sale ?

[t350toad] 20/5/2022 11:15

I echo that sentiment. Was really hoping for 40-50 value to us, but I guess I have always been the epitome of the eternal optimist.

[10owen] 20/5/2022 11:08

If Duyung turns out to be worth only £20m to Eme after everything that has been said about the size of the field the increase in resource size and high gas prices then I for one will be very dissapointed.Recent speculation and that is what it is seems to have halved the value many had hoped for and some expected.I guess we will just have to wait and see.What is clear is that even on very conservative estimates as to its value Emes share price is well below what it is worth.Gla.

[silverspoon2009] 20/5/2022 10:50

I have to say given the scale of the project the $40m valuation seems somewhat low, has EME ever placed a prospective valuation on the Duyung PSC in it's entirety, or come to that the major stakeholder Conrad ?

I can understand the recent decline in EME share price from 10p due to the failed drill but the current valuation seems wrong, it looks like a very good entry point with upside based on Duyung alone worth a very conservative 2.4p to 2.75p a share.

[jemjem] 20/5/2022 10:38

The 40m mentioned was a throwaway comment based on the "comfort valuation" that the lenders would have been provided with through their own dd. As in "is this asset worth more than 40m? Yes - then great, we are happy to lend you 20m euros".
The 40m will, imo, bear little resemblance to the true greater value once this unfolds over time.
Imo.

[buzzzzzzzz] 20/5/2022 10:37

silverspoon

yes but Coro has debt to pay off and 20% profit to pay to Bond holders.

so that could only give $12m to coro.


So hopefully the $$40m is a VERY conservative valuation.

[helpfull] 20/5/2022 10:23

The CEO appears to forget to state the denominations he is speaking in, except when he states the current debt of Coro Energy in euros. $40 million seems a good estimate and leaves EME with £18 million.

Investors should allow for about £2 million in debt at EME and might consider a conservative £10 million drill expense for Topaz in 2023. Does that leave a possible 0.8p for shareholders? Hardly a backstop.

Be careful.

[silverspoon2009] 20/5/2022 09:32

In the Shares Magazine interview Coro suggest their 15% stake in Duyung is worth a conservative $40m, EME has a 8.5% stake.

Based on the above it looks like EME's stake is worth circa £18m (at current exchange rates) EME's current m/cap is only £10m (788m shares issued)

EME seems materially miss priced in the market just based on this one project alone.




The $40m comment is at 22 mins 30 secs into the presentation.

[t350toad] 20/5/2022 09:13

Has there been any further info re the Conrad IPO?

[talkman2] 20/5/2022 09:09

Averaged down with 250,000 bought this morning . A bit of a no-brainier at these levels .

[lazarus2010] 20/5/2022 08:55

10owen, by coincidence just opened up advfn and yours is the last post...great night, our 'cup final' this season. Had too many dubious decisions go against us this season and when Burnley went ahead it just seemed like the stars were against us. Great turnaround in the 2nd half. Next season surely can't be this bad!

Anyway back on topic...if anybody is interested, Coro did a presentation in Edinburgh, here's the link. There's a section where he covers Duyung and his estimated total cashflow for their 15% is $400mln over the expected 7 year life time of the project.

That would give EME 8.5/15 x 400 = $226.67mln

He didn't say if that was after costs etc, but even if they were SAY 20%, THAT WOULD MEAN IN EXCESS OF $200MLN TO EME.

NOT TO BE SNIFFED AT AND CERTAINLY NOT TO BE GIVEN AWAY CHEAPLY!

GL ALL

[10owen] 20/5/2022 08:21

As a lifelong red I am pleased Everton survived in dramatic fashion last night.Wonder if we will see Laz and Blue today after celebrating into the early hours.Just hope they didn't get arrested during the pitch invasion .Good luck next season guys and look forward to the rivalry continuing.

[currypasty] 19/5/2022 19:56

come on topaz....lol

[judijudi] 19/5/2022 18:39

dad
FO
Gimp

[begorrah88] 19/5/2022 16:52

It'll just be a coincidence that the raised funds, 'after costs' equates to almost exactly the missing $2 million that we've heard no more about.Capital restructure & payment to CNOOC for Topaz info eh?Righto!

[crosseyed] 19/5/2022 15:46

Re the fall in price today, as has been pointed out, today a further 121.75 million new shares were formally added to the existing 666.68 million shares in issue (788.43 million in total) - that's an increase of over 18%. The share price is so far down by about 7%.

Of course, EME received £1.8275 million for them. Let's see where we are at the end of the week - or after the expected RNS after analysis of Jade.

c

[judijudi] 19/5/2022 15:40

And so does Gaz
So get buying some share Mr!

[crosseyed] 19/5/2022 15:33

...and EME/CNOOC now have a lot more geological information about the structure.

[rickyhatton] 19/5/2022 15:11

Ignore Jade.

Just pretend we have just announced by RNS we have 50% of the excellent looking huge Topaz target.And are partnering with CNOOC. Potentiall drilling in 7/9months.
And a back up in Pearl.
Plus Duyung.

Market would view little eme very differently
Lets see what finalised end of May analysis of Topaz is. Maybe BG/TK would do an investor call after that in June.

[abergele] 19/5/2022 14:49

The Donald,
I have him filtered,,
but it has'nt stopped me losing well over £20k on paper..not nice when it was dropped behind ones back ,when so much was anticipated with daily results before that fatal tuesday..

[the donald] 19/5/2022 13:59

Colin, you really are a bloody awful, sad individual. Some people here have lost money. I would imagine a lot of money on paper for some. It was their choice but to have no interest in this company apart from it's demise shows what levels you have sunk to.

[coiin stein] 19/5/2022 13:48

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