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A blue day - halleluha
The bod should be developing sponges they know lots about that subject.
According to the last RNS, we should expect to receive news by the end of August concerning the 3D seismic inversion study. The oil migration study by end of September.
The AGM was in September last year, we should be getting notice of that soon, just to let us know that the BoD are still drawing breath, as well as their salaries.
Just looked at last Rns and we are way over dates when we should have provided with an update - maybe waiting for final results which happened 16th Sept last year
Thank you for this. Very much appreciated.
one **** show is enough for me
Try BVC and Clon
Equally as disappointing
$h1t show of a company
One day we might get an update - never seen anything so non existant
Glad the bod are keeping us shareholders in the picture -not. Would have been better off with a pair of jugs- at least they are functional .
It is all still on according to the Conrad Quarterly Activities Report - link below - just running a bit late.
https://announcements.asx.com.au/asxpdf/20230731/pdf/05s3xh36qs8qyc.pdf
Gas sales agreement negotiations have been a focus of the Board and management of Conrad with tripartite engagements held between Conrad, a Singapore gas buyer, and SKK Migas. The negotiation of key terms is now expected to be finalised during Q3 CY2023. The continued GSA negotiations will allow the Company to take advantage of an improved and favourable pricing environment given strong worldwide gas demand and low supply.
A farm-down process for the divestment of a portion of Conrad’s interest in the Duyung PSC is ongoing with bids expected to be received soon. Conrad has engaged a global investment bank with a proven track record in similar transactions to lead the farm-down process.
Conrad Managing Director and Chief Executive Officer, Miltos Xynogalas, commented: “During the second quarter we have maintained our focus on completing the agreement of key terms for the Gas Sales Agreement (“GSA”) for Mako Gas with the Singapore buyer. We have extended the original timeline due to the size and importance of the project but we remain confident that these negotiations will be finalised in the short term. The extended timeline has impacted the farm down process which we now expect to progress during this quarter."
We should have some news by Monday as Conrad Asia issue an update every three months and the next one is due at the end of July.
It would be nice to know what the f*ck is going on. Q2 ended several weeks ago.
Good to see there is a strong interest in Asia for Indonesian projects with Shell selling their 35% stake in a project that is still waiting for the final investment decision for what looks like a sizeable sum. Payment is half up-front and the remainder when the FID is signed and given the go-ahead. The project is now owned by Japanese, Indonesian and Malaysian partners.
https://www.upstreamonline.com/finance/-650-million-deal-shell-sells-giant-gas-asset-to-pertamina-and-petronas/2-1-1490768
Despite the delay of the GSA and the lack of news, this gas sales agreement followed by the divestment should be imminent.
This is very, very frustrating and the shareholders of all 3 companies involved in this GSA deserve better, and certainly to be given an explanation of why the agreement wasn't announced within the previously arranged timescale of "in Q2" and when it is now due.
I don't think there is a problem here, at least not with the GSA, which is between 2 neighbouring countries and does not involve either China or Africa (two places where timelines can be chucked out of the window as agreements are always late), and involving a commodity that is very much in demand in Asia (where, as the recent presentation pointed out, gas is seen as a transition commodity between the demise of use of coal and oil and the growth of renewable energies).
Conrad Asia, as the operating partner, are responsible for communications and certainly should let the shareholders of the two companies owning the remaining 23.5% of the prospect know what is going on during these important times.
It is a poor show.
EME's share price is over 1.5p to match Conrad Asia's current valuation.
That is AUD267M divided by 1.9 (Exchange rate AUD to GBP) = £140M. Divide this by Conrad's 76.5% and multiply by EME's 8.5% for a value of £15.6M or 1.59p per share.
Obviously, both companies have other prospects but the Mako Gas Project is the current prospect that is creating most if not all of the valuation for both companies.
And this valuation is before the GSA , which admittedly is late with no apology, explanation for why or new timeline, or the divestment which will follow the GSA.
Unfortunately, the recent placing seems to have stalled the share price, which was sat at a comfortable 1.2p/1.3p before the raise, and it has yet to recover to even these levels.
Some notably big buys today. Industry news helps but this feels like a positive for Emp specifically too
Up 6% overnight
CORO is up 15%+ today, probably due to the Proactive interview (link below).
Coro Energy PLC (AIM:CORO) Chief Financial Officer Ewen Ainsworth and Managing Director - Renewables Michael Carrington speak to Thomas Warner from Proactive London about how the South East Asian focused energy company has been performing recently.
Ainsworth says that the "key area of focus for investors at the moment is what's going to be happening in the near future" and specifically with regard Coro's Duyung PSC - a project he describes as the company's marquee asset."
There is no mention of why news on this is late or even of any delay or whatever so it has to be assumed that news is still imminent.
Maybe some kind of news from EME management might help their ailing share price rise in advance of the expected GSA and divestment.
https://www.proactiveinvestors.co.uk/companies/news/1020185/coro-energy-going-through-super-exciting-times-with-renewables-strategy-1020185.html
Lets hope the cheque does not get lost in the post.
Https://twitter.com/m46843959/status/1675612685214285824?s=46
Good link and news anticipated this week by Conrad Asia.
When Conrad brought out their latest Investor Presentation in early February the EME share price went up by 100% on the day with no posts and little awareness of the reason for the rise.
It would be great if that happened again here in advance of the GSA figures.
GSA imminent. This can only go up. 1.2p/1.3p initial target - even maybe 1.6p even before the figures come out.
A few buys trickling in now.