Empyrean Energy Share Discussion Threads

[solarfire73] 30/1/2024 22:15

Update should come tomorrow assuming we're not asleep at the wheel.

[stewart4990] 30/1/2024 22:13

Another delay was expected, been going on for years, so what's stopping Conrad from picking up eme % and indeed Coro for peanuts.Both need cash, absolutely mugged.

[solarfire73] 30/1/2024 22:13

Our sale of our total interest seems nailed on, albeit further delayed from previous expectations. It's going to be interesting to hear what TK´s plan for China is now.

[jemjem] 30/1/2024 22:02

From the detail...as suspected the Minister has been holding it all up again - but that seems to be resolved now. I wonder what it cost to get the Minister on side. ;-|


"The Term Sheet and the framework of included terms has been endorsed by SKK Migas. However, the final GSA requires that price and gas allocation approval must be endorsed by the Minister of Energy and Natural Resources. The Minister had insisted on improved sales terms that have subsequently been agreed by all parties to the GSA. Conrad is working with the buyer, SKK Migas and other government departments to target the finalisation of a binding GSA (with customary conditions precedent) as soon as practicable, prior to the end of Q2 2024."

[safiande] 30/1/2024 21:42

Judas goat mee ewd

Conrad Energy Ltd (ASX: CRD) (the “Company”; or “Conrad”), an ASX-listed Asia-focused natural gas exploration and
development company, is pleased to provide an overview of activities for the quarter ending 31 December 2023.
o Considerable progress has been made in maturing the Mako project during the past months. The key developments
include:
o Front end engineering design (“FEED”) studies for the Mako development project have concluded. Based on these
studies (and the procurement process to date), capital costs for Phase 1 are currently estimated to be US$325
million1 based on a 100% participating interest,
2
in line with market trends. Capital expenditures to initial
revenues are currently estimated to be US$250 million1
(100%). Project costs and expenditure scheduling are
being further optimised to reduce this amount. The planned development wells are targeted to deliver 120
mmscfd (100%) for a plateau period of seven years1
.
o In Q3 2023, the Company signed a non-binding term sheet (the “Term Sheet”) with Sembcorp Gas Pte Ltd
(“SembcorpR21;), a major Singapore energy company, which outlines the core terms and serves as the basis for
negotiating a definitive Gas Sales Agreement (“GSA”). Subsequent commercial negotiation between the Minister
of Mining and Natural Resources and Sembcorp has resulted in both improved price formula and a delay in
executing the GSA, and accordingly, Conrad has agreed with Sembcorp to delay the deadline to finalise a binding
GSA (which will be subject to customary conditions precedent) by the end of Q2 2024.
o During the quarter, Conrad progressed the technical and commercial work with the West Natuna Transportation
System (“WNTS”) Joint Venture and with the support of SKK Migas to negotiate the commercial and legal terms
of access to the WNTS for the transportation of the Mako gas to Singapore. Despite the good progress, delays
have been encountered and this has required a revision of the project timeline and finalisation of the GSA.
o While the Company continues to strive to reach a Mako final investment decision (“FID”) at the earliest, on the current
trajectory of conclusion of the GSA and gas transportation agreement, FID would be delayed until mid-2024.
Production start-up would commensurately slip until mid-2026.
o The Duyung farm down process is progressing. With the announcement of the Term Sheet, as well as progress on all
other facets of the project, more parties have expressed interest in the Mako project. The Company is engaging in
confidential discussions with potential partners regarding acquisition of a Participating Interest in the Duyung PSC.
o Conrad has appointed a financial advisor to assist with the debt funding portion of its share of the Mako project capital
cost. Conrad has received an indicative term-sheet from one of the potential lenders to help fund Conrad’s share of
project costs. Lender selection and completion of documentation are expected by mid-2024

[stewart4990] 30/1/2024 12:27

Why I ever invested in this dog I'll never know, wish I had never heard of them.Led by directors and non exec who are only interested in themselves, in particular the working directors.Achieved absolutely nothing, cost me a fortune, looking at the price, it looks like another placing, probably at about .25p to keep paying their salaries, not sure what they are doing to deserve any salary.

[cashandcard] 30/1/2024 11:22

The mistake is they keep on raising funds for survival as opposed to real investment. You know, to keep that gravy train rolling. I'm afraid this is done aslong as TK is at the helm. Time for shareholders to move him on.Several other places one can put investment into cash generating assets. Or risky, but very high reward exploration.The assets here are not in the companies control and/or they rely on authorities who move at snailpace.Cash

[xongkudu] 30/1/2024 10:29

I was trying to work out how many shares in issue but my calculator wasn’t wide enough to deliver a final figure.

Is someone saying that there’s going to be yet further dilution? With all the other great investment opportunities out there I think TK would, politely but firmly be shown the door if he tried to drum up interest at 0.25p

[the sage] 30/1/2024 08:04

I won't be investing in anything to do with the Indonesian government again. I hope it doesn't take 4/5 months to ratify the FID when we eventually get the GSA. GLA.

[digger2779] 29/1/2024 15:48

I get the feeling we are imminently looking at a quarter pee placement. Imminent always appears sooner when it's bad news.

[georgesorrow] 29/1/2024 14:04

Six weeks today since Topaz migration study results were supposed to be out in 'immediate future', which to everyone except TK would suggest a matter of days.

[cashandcard] 29/1/2024 09:55

For those interested, GALP and Sintana have now announced deeper target as 'significant' light oil column discovery. 2 'significant' light oil discoveries in one well. Drillrig now moving to Mopane X2 location (the prospect with the stronger amplitude anomaly). Mopane structures are estimated at 10bln bbl OIP. These are both north of Shells successful series of discoveries in PEL39.Anyone interested in bluesky exploration, you have to be invested in elephant hunting country Namibia right now - it's on fire.I hope folks here can make some back after Jade failure and downtrend since.Cash

[jemjem] 25/1/2024 22:10

Don't wait up blakie - there'll be nothing tonight. It's Australia Day on Friday, so market is closed.Imo

[blueblood] 25/1/2024 20:53

In your dreams lol!

[cmackay] 25/1/2024 19:53

Highlights:

GSA developing well, signing imminent.

[blakieboy7] 25/1/2024 18:36

CRD quarterly out overnight?

[blakieboy7] 25/1/2024 11:49

Nice one chicken!!

[chicken charlie] 25/1/2024 11:45

bought another 500000 yesterday at 0.40

[sharesure] 25/1/2024 11:34

Maybe folk wanting to establish a CGT loss?

[judijudi] 25/1/2024 11:04

Where are they getting the shares from?

[blakieboy7] 25/1/2024 10:45

Thanks Owen, I bought more at .55 too. Onwards and upwards!