Empyrean Energy Share Discussion Threads

[currypasty] 28/3/2024 09:24

judi, thanks
showme, can you post the exact bit about debt

[judijudi] 28/3/2024 09:19

curry,
end of May isn’t it mate?

[showme01] 28/3/2024 09:19

Curry, EME have sorted their debt as per the last up date but Coro have some very chunky debt to sort the end March.

[currypasty] 28/3/2024 09:17

how does the now expected date of before end of may affect our and coro's debt financing agreements ?

[judijudi] 28/3/2024 08:41

curry that’s if they all move in unison and everything goes to plan
Could be ages yet going off their past timelines that have been proven to be garbage

[currypasty] 28/3/2024 08:31

from conrad

On 27 March 2024, Conrad and PGN entered into binding Key Terms thereby committing to agree and to sign a GSA for the domestic portion of the gas produced from the Mako field.
Under the Key Terms, the parties will conclude negotiations for and agree in good faith a GSA that will include and be based upon the Key Terms. The parties shall endeavor to sign such GSA by no later than 31 May 2024.
This GSA will be subject to the construction of the pipeline connecting the West Natuna Transportation System (“WNTS”) with the domestic gas market in Batam. It forms part of Conrad’s Domestic Market Obligation (“DMO”) as set out in the Mako’s revised Plan of Development (“POD”). The sales volumes under this GSA will represent approximately 29.5% of Mako sales gas volumes until the PSC expires in January 2037.
The remainder of the Mako sales gas volumes will be sold to Singapore where a term sheet was signed in 3Q 20232 and Conrad is moving towards finalising a GSA over the coming months.
These Key Terms are an important step towards the Mako development final investment decision (“FID”) planned by midyear 2024.



just another 3 months to wait..lol

[jemjem] 28/3/2024 08:19

Absolutely right 10owen.

I'm working on a very simple basis with this atm. The GSA will happen at some stage. We will sell our entire 8.5% and get the equivalent of a minimum of 2p per share cash at some stage. It's that simple. So I'm just sitting tight.

China doesn't come into that equation as I assume TK is working on an extension and/or JV.

Imo

[blakieboy7] 28/3/2024 08:09

htTps://www.voxmarkets.co.uk/rns/announcement/5991cadb-8bc1-4f19-a4a8-07a034ce195c

[10owen] 28/3/2024 08:00

Let's hope so JemJem but costs will have gone up so until the deal is done we still dont know what our share will be.

[judijudi] 28/3/2024 07:57

Let’s hope Brent doesn’t go down then hey

[judijudi] 28/3/2024 07:54

Didn’t realise they have reduced the resource estimates
🙈🤦🏻

[10owen] 28/3/2024 07:45

Moving slowly in the right direction but dissapointed with reduced resource estimates in Coros RNS.Not the blockbuster RNS we were hoping for.Next time maybe.Gla.

[showme01] 28/3/2024 07:13

The remainder of the Mako sales gas volumes will be sold to Singapore where a term sheet was signed in 3Q 20232 and Conrad is moving towards finalising a GSA over the coming months.
These Key Terms are an important step towards the Mako development final investment decision (“FID”) planned by midyear 2024.

[showme01] 28/3/2024 07:12

It's progress JJ.

[judijudi] 28/3/2024 06:37

Why’s it great news show?
The binding terms for the domestic?

[dogs_bollocks] 28/3/2024 01:19

RNS coming very soon now I think

[cmackay] 28/3/2024 00:22

Good to know

[digger2779] 28/3/2024 00:06

Just got this email

Mako Gas Sale Key Terms Signed with PGN

Highlights

Conrad Asia Energy Ltd (ASX: CRD) (the “Company”; or “Conrad”), an ASX-listed Asia-focused natural gas exploration and development company, is pleased to announce that it has entered into binding Key Terms for the sale and purchase of the domestic portion of Mako gas (“Key Terms”) with PT Perusahaan Gas Negara Tbk (“PGN”), the gas subsidiary of PT Pertamina (Persero), the national oil company of Indonesia. Under these binding Key Terms, Conrad and PGN will agree in good faith and sign a fully termed Gas Sales Agreement for the domestic portion of the gas produced from the Mako field (“GSA”) located in the Duyung Production Sharing Contract (“PSC”) in the West Natuna Sea, offshore Indonesia.
On 27 March 2024, Conrad and PGN entered into binding Key Terms thereby committing to agree and to sign a GSA for the domestic portion of the gas produced from the Mako field.
Under the Key Terms, the parties will conclude negotiations for and agree in good faith a GSA that will include and be based upon the Key Terms. The parties shall endeavor to sign such GSA by no later than 31 May 2024.
This GSA will be subject to the construction of the pipeline connecting the West Natuna Transportation System (“WNTS”) with the domestic gas market in Batam. It forms part of Conrad’s Domestic Market Obligation (“DMO”) as set out in the Mako’s revised Plan of Development (“POD”). The sales volumes under this GSA will represent approximately 29.5% of Mako sales gas volumes until the PSC expires in January 2037.
The remainder of the Mako sales gas volumes will be sold to Singapore where a term sheet was signed in 3Q 20232 and Conrad is moving towards finalising a GSA over the coming months.
These Key Terms are an important step towards the Mako development final investment decision (“FID”) planned by midyear 2024.

Conrad Managing Director and Chief Executive Officer, Miltos Xynogalas, commented: Conrad has been working closely with PGN for the commercialisation of Mako gas. These Key Terms are a very important milestone paving the way for a fully termed gas sales agreement and brings the company a step closer to the FID for the Mako development. This agreement, combined with Conrad’s recent signing of a Memorandum of Understanding for its Aceh gas resources also with PGN, will further advance the Government of Indonesia’s ambition to meet the fast-growing energy needs of the country.

[blueblood] 27/3/2024 23:59

Key terms for domestic Mako gas signed by Conrad. GSA to be finalised for this by 31st May. RNS just out at Conrad!

[jemjem] 27/3/2024 22:26

Conrad Annual Report out, runs to 94 pages so haven't read it all yet. From Page 1:


"Significant strides have been made with our flagship asset, the Mako gas project. A final investment decision (“FID”)is imminent, with production start-up set to commence by 2026. Further, we signed a non-binding term sheet with
Sembcorp Gas Pte Ltd. (“Sembcorp”), laying the groundwork for a definitive Gas Sales Agreement. Negotiations with potential farm-in partners are at an advanced stage and other financing options are also being positively matured, in
advance of FID."

Also in another announcement, terms have been agreed for the sale of domestic gas portion of production.

Slowly, slowly - they're getting there.