Empyrean Energy Share Discussion Threads

[the donald] 09/8/2022 15:52

At least the loan note holders are holding off.

[the donald] 09/8/2022 15:51

I hope Tom gets some news out before we have a decent team Stewart!

[lazarus2010] 09/8/2022 15:39

Whooooosh...up to 1.2p ;-)

[solarfire73] 08/8/2022 19:38

Nice of Zak Mir to remind us (not).

[the donald] 07/8/2022 10:00

Both look so very much undervalued with Duyung likely valuations. Gutted I can't take advantage as my money is tied up in 4D admin and suspension, just a few hundred thousand EME I bought a few weeks ago.

[lazarus2010] 05/8/2022 14:39

sue999 - if Duyung is worth in excess of $40mln to EME, then it's near $80mln to Coro...plus Italy and renewables business. $80-30 = $50mln-20% to CLNs = $40mln...say = £30mln...current market cap c. £7mln...I make that 4-5 bags. EME without as much debt worth say $35mln post Duyung, also c. 4-5 bags. Happy days!!

[grannyboy] 05/8/2022 11:45

Yes but unfortunately EME aren't in a much better position, these have debt, mislayed $2 mill, and have no production, besides Duyung EME has just Topaz to look forward to, they do have 8.5% in Duyung, CORO has 15% in Duyung and earning more then their M.C from the Italian gas production..

For both companies the sale of Duyung is paramount for them both to progress in other assets!!

[sue999] 05/8/2022 10:10

I got my answer. CORO has a big debt, circa 30 million USD equal to 1.5p per share.

[sue999] 04/8/2022 11:08

I am surprised that CORO's valuation is lower then EME's.

[bushman1] 04/8/2022 07:46

Perfect timing ( thumbs up ). CORO Energy have just tweeted. '. Not long to go now til our Investor Event on 15 August in London. Please e mail [e-mail] if you have not received your invite. '

[grannyboy] 03/8/2022 17:42

I think a lack of news from all the companies involved causes speculation on a grand scale!

[lazarus2010] 03/8/2022 15:26

Buzzz

'I think getting into bed with Conrad could open up a huge can of worms.'

It could also open up a can of opportunities!

Don't forget, Coro have an arms length investment in another company, so it would become pretty much the same, and Tom would probably want a seat on the board and a second salary! What could go wrong!?

[lazarus2010] 03/8/2022 15:22

digger, it could be possible that in the float Coro sell say 50% of their shares to participants of the float and keep the remaining 50% as shares in the new co.

Some cash from the float would be kept inside the co. to progress Duyung and other assets, and any future funds needed for full development would be raised by issuing new shares, hopefully when the asset value has increased substantially!!

aimho dyor

[buzzzzzzzz] 03/8/2022 15:17

Laz

Yes interesting position but as Digger said both EME and Coro have CLN holders to deal with.

Also having sizeable sellers give the IPO a sizeable overhang not exactly what one looks for when investing in an IPO.
Also sizeable holders tend to be subject to a lock in.

Also timeline very uncertain and makes EME and Coro vulnerable to Conrad management performance and so far they have not exactly covered themselves in glory.

I think it's more logical that Conrad use money from IPO to buy us out or the Company who has the GSA gets some skin in the game.

I think getting into bed with Conrad could open up a huge can of worms.

[lazarus2010] 03/8/2022 13:25

Buzzzzzzzzz...how about both Coro and EME putting all their stake into the Conrad float, if the rumours mentioned above are true...first postulated by Sue I think or was there an actual 'I heard a rumour' post on the BB that I missed?

We then effectively dilute (and de-risk) our stake in Duyung, and buy stakes in whatever other ventures Conrad are into? If Conrad do well, we would be able to sell shares incrementally, presumably to funds looking for such investments, in reasonable sized blocks without having an adverse affect on the Conrad SP? It would also mean that as Duyung gets closer to FID and actual development, our stake might be worth a lot more? Could even keep some all the way through to first gas, as Conrad would have to stump up all the readies as we would only be s/h's in Conrad (unless a clause was put in to keep us liable for a pro rata contribution to costs?)

Whatever way we go we as PIs just need the GSA asap!

[buzzzzzzzz] 03/8/2022 13:17

Sue

Absolutely wrong!

Quite easy for Conrad to develope field if it does not own 100%, most large gas/oil fields often have multiple partners.

Coro has around 6m euro's FCF each year from current gas sales.

Coro has money for the FID and long lead items and would be able to borrow against future revenue.

However Coro first has to pay off it's own CLN holders.

Far more likely is EME and CORO selling out to whoever is signing the GSA and buying the gas giving them some skin in the game.

[sue999] 03/8/2022 13:00

Unless EME have obligation to sell their 8.5% to Conrad, Conrad has to pay good money to both CORO and EME to buy them out. How can Conrad develop the field if they don't own 100% of the field. Neither CORO nor EME have any money to participate to develop the field, and no one will lend them millions to join the development plan. I think the only way is for Conrad to let EME and CORO in Conrad IPO.

[digger2779] 03/8/2022 12:37

michaelhfrancis - fanciful as it sounds I don't think Conrad will be wanting to climb aboard the investment equivalent of the Titanic that is EME.

[michaelhfrancis] 03/8/2022 12:00

The LNH must see something that reassures them that their money is safe and they Will get a good return. If the rumor is true about EME getting shares in the Conrad IPO that has to be a vote of confidance in EME Maybe Conrad could join eme in partners on the Topaz drill that would be the iceing on the cake the future of EME could turn brighter than we think GLA DYOR

[blueblood] 03/8/2022 09:33

Another small top up as news must be getting close! Fingers crossed it's the big one!

[judijudi] 03/8/2022 09:31

Laz,
Hilarious