Empyrean Energy Share Discussion Threads

[buzzzzzzzz] 12/9/2022 11:22

Curry

Are they only floating 30% of Duyung?

[currypasty] 12/9/2022 11:18

so that 37.7 / 128.6 or 30% of the full Conrads interest in Duyung

[currypasty] 12/9/2022 11:16

Securities offered under the Offer CDIs1 CDIs1
Ratio of CDIs per Share 1 Share for 1 CDI 1 Share for 1 CDI
Current Shares on issue 128,577,071 128,577,071
Offer Price per CDI A$1.46 A$1.46
Total number of CDIs available under the Offer 30,821,917 37,671,232
Gross proceeds of the Offer A$45.0 million A$55.0 million
Total number of Shares/CDIs on Completion (including CDIs issued) 159,398,988 166,248,303
Warrants and Options2 11,926,174 11,926,174
Share Rights3 3,844,616 3,844,616
Total number of securities on issue (fully diluted4) 175,169,778 182,019,093
Indicative Market Capitalisation5
at the Offer Price A$232.7 million A$242.7 million
Pro forma net cash/(debt)6 (as at 30 June 2022) A$38.4 million A$47.9 million
Enterprise value7 at the Offer Price A$194.3 million A$194.8 million





so if you take the extended offer, and there is every possibility that will happen



there are currently 128.6 million Conrad shares in issue

if oversubscribe 37.7 are on offer


fully diluted (in warrants/options) will be 182.0 million

[sue999] 12/9/2022 11:10

On completion there will be 166248303 shares of which 37671232 is offered to the market which means 22.6% is being floated. I think the share price could jump up substantially as this price seems too low.

[blueblood] 12/9/2022 11:03

That's net of near $50m debt and IPO will be priced to go as they are raising $45-55m

[buzzzzzzzz] 12/9/2022 11:01

Probably undervaluing it as will want to offer substantial upside to those paticipating in the IPO.

[currypasty] 12/9/2022 10:56

The thing that is not clear in the prospectus is if they are tipping up ALL the Duyung project for the listing, or keeping a % back from themselves.. Ill keep reading the 390 pages, it has to be in there somewhere

[sue999] 12/9/2022 10:53

Lets say Conrad has no other assets and A$194 mil id for their 76.5%. Then 100% will be valued at A$255 mil. 8.5% of that is A$22 which is 15.5 mil GBP. If I am correct, this is not a lot.

[digger2779] 12/9/2022 10:45

Any idea how much our share in Duyung could be worth now we have details of the Conrad proposed float?

[currypasty] 12/9/2022 10:28

Conrad 76.5%
Coro 15%
EME 8.5%

[sue999] 12/9/2022 10:27

This valuation is for conrad's share only.

[currypasty] 12/9/2022 09:57

The Mako Gas Field has been independently estimated by GaffneyCline
(26 August 2022) to contain gross 2C resources of 413 Bcf (215 Bcf attributable to
Conrad within the life of the PSC). These resources place the Mako Gas Field as
one of the largest gas discoveries in the West Natuna sea and one of the largest
undeveloped gas resources in that area

[seavista] 12/9/2022 09:55

I see that Mako "expected approval" reported in UOL hxxps://www.tandfonline.com/doi/abs/10.1177/036215378201200414

[10owen] 12/9/2022 09:42

Thanks for the link Curry.Good to see in writing that Conrad expect signed GSAs to be done in Q4.We have it from the horses mouth at last.Must just be finalising them now and getting sign off.

[abergele] 12/9/2022 09:34

Morning Blakie,,
I have been on the phone to them as my balance of monies had dropped dramatically,
so needed to know immediately,they said to me we have hold of these problems and should be resolved soon,, so feeling relieved now.

[currypasty] 12/9/2022 09:33

so total value $195 million

[currypasty] 12/9/2022 09:32

Securities offered under the Offer CDIs1 CDIs1
Ratio of CDIs per Share 1 Share for 1 CDI 1 Share for 1 CDI
Current Shares on issue 128,577,071 128,577,071
Offer Price per CDI A$1.46 A$1.46
Total number of CDIs available under the Offer 30,821,917 37,671,232
Gross proceeds of the Offer A$45.0 million A$55.0 million
Total number of Shares/CDIs on Completion (including CDIs issued) 159,398,988 166,248,303
Warrants and Options2 11,926,174 11,926,174
Share Rights3 3,844,616 3,844,616
Total number of securities on issue (fully diluted4) 175,169,778 182,019,093
Indicative Market Capitalisation5
at the Offer Price A$232.7 million A$242.7 million
Pro forma net cash/(debt)6 (as at 30 June 2022) A$38.4 million A$47.9 million
Enterprise value7 at the Offer Price A$194.3 million A$194.8 millio

[currypasty] 12/9/2022 09:30

Prospectus
Conrad Asia Energy Ltd.
ARBN 656 246 678
For an offer of 30,821,917 CDIs at an issue
price of A$1.46 each to raise approximately
A$45,000,000 (with the ability to accept
oversubscriptions to raise up to
A$55,000,000 (in aggregate)


Prospectus Date Friday, 9 September 2022
Broker Firm Offer, Priority Offer, the Institutional Offer
and Public Offer opens
Monday, 19 September 2022
Public Offer closes Friday, 7 October 2022
Broker Firm Offer, Priority Offer and Institutional Offer closes Friday, 14 October 2022
Settlement Wednesday, 19 October 2022
Issue of CDIs under the Offer Thursday, 20 October 2022
Expected despatch of holding statements and allotment
confirmation advices (CDIs)
Friday, 21 October 2022

[blakieboy7] 12/9/2022 09:23

And, II have announced they are having data feed problems. I think they did some sort of update at the weekend and not properly tested it by the looks of things

[sue999] 12/9/2022 09:22

I found this:

Botten's Asian explorer set for IPO

PETER Botten’s Conrad Asia has launched its prospectus, hoping to join the Australian Securities Exchange via a raising of $45 million at $1.46 per share. Its ticker will be CRD.

hxxps://www.energynewsbulletin.net/finance-legal/news/1439394/botten%E2%80%99s-asian-explorer-set-for-ipo%C2%A0

[abergele] 12/9/2022 09:11

Laz,
It has all gone to pieces now,,can't get back in,,
have you or anyone got these problems with (ii)..tia..?

[abergele] 12/9/2022 08:29

Morning to you Laz,
I just get a bid quote in that box,,no Offer,when I fill in the details for any trade, all seems OK,, but it's a problem on my laptop seeing a balanced Offer.v.Bid,
says/shows..-0.01 only after the Bid-Ofer price,,I am thinking this now is the closed Mid price,!!
They closed for work over the weekend gone, and perhaps have messed up things,
At first I only got their platform (ii), but like to press on "Morning Star" in blue standout to click,,tia..


Sorry I have updated some wordings above,,