Empyrean Energy Share Discussion Threads

[blueblood] 12/9/2022 14:40

I think it's good sign they are only releasing 30% of company at IPO. Get $50m in bank to get FEED & FID and use RBL for further development of Duyung. Will them benefit by getting another $50m for only further 10% next year!

[helpfull] 12/9/2022 14:31

Yes! That happens quite commonly. Like never. The equivalent of exchanging cash for magic beans.

Be careful.

[lazarus2010] 12/9/2022 13:36

I'm in meetings Curry so can't do it, asking if anybody else can do it as somebody on Coro telegram asked if I could copy across

[currypasty] 12/9/2022 13:02

great Laz, but get rid of my handle in the middle... as after i downloaded the prospectus in Oz land, ive returned to UK now

[lazarus2010] 12/9/2022 12:56

Can somebody put these on Telegram coro and eme?

12 Sep '22 - 09:30 - 49961 of 49991
0 6 0
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

CURRYPASTY12 Sep '22 - 09:32 - 49962 of 49991
0 2 0
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

[sue999] 12/9/2022 12:53

I also believe the EV is for 100%. Buy way undervalued.

[linz22] 12/9/2022 12:50

Yes, Smithy, I've been thinking exactly the same since piling in here last year for the "Christmas Day spud" at Jade,

Eventually came to the conclusion that after so much procrastination, and extended periods of no-news silence, that invested funds might be better employed elsewhere, essentialy until EME, CORO and particularly Conrad get their act together.

Ie. one wouldn't want to be fully invested here, as the months of waiting turn into years, while the market's rocketting elswhere, eg. oil & gas right now.

Hopefully, we're now witnessing first signs that the same co-ordinated act might be coming to fruition presently..?

[simonsmithiv] 12/9/2022 12:43

Isn't anyone wondering why both here and CORO haven't already priced in this huge upswing in value for the GSA when it's been known about and assumed by every man and his dog for months? It's not exactly going to be a surprise when it drops, so I wonder why it isn't already trading at many multiples? Is everyone really waiting to 'buy on news'? That'll be a first!

[blueblood] 12/9/2022 12:42

Don't forget Conrad have 76.5% of asset compared to our 8,5% so we have asset value 1/9 of there's. Combined with NPV 10 figures released last week I reckon we have conservative £25m on the table which is only going to increase as we move through to FID next summer.

[blueblood] 12/9/2022 12:36

I can't see the EV being for only 30% at this stage. But $250m before GSAa and resource upgrades based on only 2C gives us a line in the sand that will only increase in value going forward. Conrad leaving plenty on table for IPO investors who could easily at least double their money before Xmas on GSA approval imo

[bengal1] 12/9/2022 12:29

Ok.. Thanks.

[currypasty] 12/9/2022 12:24

no, im not clever enough to work that out

I await a full analytical assessment from Laz

[bengal1] 12/9/2022 12:23

Curry, does your comparison include the money that Conrad will have in the bank?

[solarfire73] 12/9/2022 12:14

Current market capitalisation is approx GBP 9.45m

[10owen] 12/9/2022 12:06

Dont forget the GSAs are likely to add significant additional value on top of this to reflect higher gas prices.Lets hope we get these ahead of Conrad's float in mid October.

[buzzzzzzzz] 12/9/2022 12:00

Hopefully someone will go Tickety Tock Bang!

[buzzzzzzzz] 12/9/2022 12:00

Sounds very positive.

[currypasty] 12/9/2022 11:53

I think there are 1.7 Aussie dollars to the squid

[stewart4990] 12/9/2022 11:47

Curry,

So with current exchange rate that's approx £32.5M to eme, apologies i thought the 55M was US dollars

[helpfull] 12/9/2022 11:34

Tickety Tock! Confusion shock!

I think peeps should try converting aus$ into US$. It would be a help to those of us who do not know what's going on.

Be careful.

[odillon] 12/9/2022 11:25

This Sacramento Basin - when do they turn on the taps?

[currypasty] 12/9/2022 11:22

so the enterprice value of $195m is for 30% of their part of Duyung, or their 100% is $650m


so our 8.5% is $55m



please can someone else read those 390 pages and comment ?????????????