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Participating stake in the Duyung PSC, (Singapore).
Interest below
Conrad Asia Energy 76.5%
Empyrean energy 8.5%
Coro Energy 15%
Https://www.share-talk.com/traders-cafe-with-zak-mir-the-week-in-small-caps-sunday-25th-february-2024/
If we are truly in a nascent bull market, as tentatively suggested last year, we should find small cap stocks that have been chronic performers to come back to life. For this to happen we need the return of liquidity, but we also need companies to deliver the correct newsflow. In the case of Empyrean Energy (EME), shares this week were up a third as the company announced the approval of gas pricing and allocation by the Minister for Energy and Natural Resources. This clears the path for definitive binding gas sales agreement (GSA) to be completed. With this support from the Indonesian Government, the GSA is now closer. Having the major terms settled and ministerial approval are very important milestones for EME. Best of all this significantly reduces uncertainty for any potential JV partner or buyer. Indeed, Mako gas is expected to play a significant role in lifting Indonesia’s gas production. It is in turn set to be transformational for EME, and given that the shares were more than double where they are now at 0.62p this time last year, before the big thumbs up from the Minister, we should see the shares re-rate much further.
Https://guardian.ng/business-services/massive-resignation-hits-lekoil-cayman-board/
https://www.energyvoice.com/oilandgas/africa/ep-africa/347042/metallon-sold-stake-lekoil/
https://en.wikipedia.org/wiki/Aisha_Muhammed-Oyebode
Sources have informed that an approach to Mrs Oyebode has been made as part of on-going enquiries into Mr Richardson's past business activities. In addition to being Chairwoman of Lekoil Nigeria, Mrs Oyebode is a prominent businesswoman in Nigeria and wider Africa more generally. Her father was the ex Head of State of Nigeria and the attached comments made by Mrs Oyebode on 15 June 2021 and 1 Sept 2021 about Lekoil Cayman are clear and damning. Mr Richardson was appointed a director of Lekoil Cayman on 8 January 2021. It will be interesting to assess a first hand account from Mrs Oyebode in due course.
So, you are waiting for a sale. At COPL we were waiting for a JV, we were at LOI stage. It was cancelled at the last minute by Tommy. Don't be suprised if your sale doesn't happen.
Guys – I appreciate all of your concerns regarding the NED and I am sorry that you have suffered from the COPL issues. The COPL management have obviously let you down very badly and I would also be angry by their behaviour.
However, the investment case for CORO is not down to one NED associated with the company. It is simple arbitrage situation i.e. ~$81 million cash coming to CORO very soon vs the current $6 million m\cap.
The whole selling process of the Mako Gas Field is effectively being managed through Conrad Asia and CORO are just waiting for the GSA to be processed and subsequently receive the cash.
Any outstanding debt will be paid off so no requirement for bonds, CLN’s or any input from the NED’s.
Whilst I understand and appreciate your views ref COPL, this is a different situation whereby CORO’s assets and cash will be ~10x the current low m\cap (after debt being paid off) and therefore a great opportunity to invest.
I wish you all the best for the future.
IMHO
One last thing, do any of your management team or directors mention any of the companies I or anyone else have mentioned about their involvement in, on their Coro website profile?….. That question being rhetorical. No they don’t! Not one of them mentions any company they’ve been involved in that went down the drain. (Which btw was caused by their involvement. IMO).
I’ve always thought to myself when reading, what would be called trolling, de-ramping etc, why would anyone bother if they’re not invested in this company. Until now….. Now I’m on the receiving end of directors that have screwed myself and thousands of others over and are IMO about to do the same with this company. Now I get it!
Do yourself a favour. Now this is going to sound contradictory, don’t listen to what we are telling you. But for your own sake research COPL, Tom Richardson, Fenikso, Anavio, your CEO, CFO, other members of your management team, Ascent Resources, the list goes on. But there’s enough there to start with. We are getting close to class action, Ascent SH’s are I believe also in class action against these same individuals. DYOR and you will see this isn’t negative de-ramping. I’m going to be honest with you I’m not just here telling you this for yours and other SH’s sake, which I am. I’m here to get it out to a wider audience of what these are up to. And once you’ve done your research you’ll come to your own conclusions. Hopefully before they have chance to wipe out your investments like they’ve done, as your research will show you, to every SH that’s invested in good faith in every company they’ve been involved with. Your choice and good luck. And I mean that sincerely 👍
Sorry don't buy that he's not making decisions and as proved the other day they can leave a company with no input whatsoever like Naheed .
Never seen so many comments on this stock today which seems very odd especially the negativity by some when todays news is all good as far as I'm concerned
We were where u are now till tr came u board, dilution, bonds, admin
That’s where it starts. A NED is there to advise a board on their specialist area. The BoD then makes the final decision.
So what is Richardson speciality that he is advising the board on? It certainly isn’t Energy as he’s openly admitted he knows nothing about that.
He is a specialist in death spiral bond financing. All seems rosy at first and then…….
Sorry but dont get all this the man you are talking about is a NON executive director in other words doesnt make decisions ?
Good luck bud tried to warn u ,hope u don't join our exclusive club
‘For now…’
Guys – thanks for all the numerous warnings but I think I must a bit thick when adding and subtracting, as follows:
~$81 million (Duyung sale) minus ~$24 million (current debt) = ~$57 million (in Coro’s piggy bank)
In this event, debt paid off so no future problems (including from any NED’s) and CORO will have ~10x their current m\cap in the bank (plus all the renewables assets\projects).
Thanks for all the advice but I think my calculators working okay for now.
It's definitely the same guy 100%
I'm posting to try and warn pi,s I'm not invested here and have no interested either just a honest word of warning I have lost a lot of money thru copl shares and don't want any one to go thru what I have been thru,but ur latest edition to the board is only interested I'm making money for himself and others doesn't give a toss about investors so if u can get out now do it I never and got caught by the balls he's a cancer who will kill this company
Contact details to ascertain if Coro and their PR consultants wish to continue to be associated with this NED are:
info@coroenergy.com FAO Mr James Parsons - Executive Chairman
info@vigoconsulting.com FAO Mr. Patrick d'Ancona - MD
Don't need to say much if you don't wish. Simply refer said companies / individuals to the COPL chat board.
This was prob a good company before that 'A' class ass hole TR, joined the board.
ATB
Until today your SP is down almost 50% since TR joined board.
Tom has a rich history of destroying companies private shareholders. Normally to the tune of 99% SP reduction.
He has absolutely no understanding of Energy / Oil & Gas however has a strong knowledge of Offshoring money, signing companies to Convertible bonds which lead to a death spiral.
Check his links to Tennyson, Hadron, Atlas, Anavio etc. It’s a tangled web of shame and obfuscation. Also be aware of impending legal action against him and his companies.
I would not invest in any company where he nor his cohorts arrive it as the outcome is always the same.
Check out what he did at Lekoil and COPL with his Loan to Own bonds. Death spiral financing coming your way.
The Bonds are mainly with Lombard Odier
We have a 15%stake in Duyung and when conrad sells it down which should hopefully happen very soon given todays news then the money received for our stake is significantly more than our debt
We have a decent renewables business which is gaining good traction and we have sold off non core assets which have generated some decent cash .
Not sure why some are panicking as when the 15% holding is sold what price will we be ? with no debt a decent business and cash in the bank !!
All anyone has to do is research all the current and previous companies listed in the RNS when he was appointed NED here, where Richardson has held directorships. You’ll see for yourselves. The minute bonds and/or Anavio are mentioned. Get your money out!
Don’t spent the £3 all at once will you