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Looks like a leaky ship(more like a tramp steamer)
What is this rise all about? Doesn't look like the volume of trade.
I had some email dialogue with TK last week. They will look to divest their interest in Mako if the “price is right.” We know this per recent RNS update. They may be dragged along via the “tag and drag” clauses as part of the licence agreement. The intention if a successful sale is to use the proceeds to advance drilling of Topaz. The weather window for this is Nov - May. We will know this quarter(by June end) of what the submitted bids will look like. I asked the question about potential value to EME and suggested a figure of $20-30m. I’m awaiting a further reply on his thoughts on that. Just thought I’d share.
This share reminds me of Monty Python's 'Dead Parrot ' sketch.
FA by the looks of it. Gas sales are not until 2025
they need to smarten up and get some money in and the sp up. I want my money back then i can leave this shower
What have the clowns being doing for the last four months ? Where is the update on the debt and the much vaunted next drill prospect and the rest. Would like to see a day in the life of a eme board member lol.
Duyung PSC - Mako Gas Field 76.5% Participating Interest, Operator
Conrad holds a 76.5% operated interest in the Duyung PSC via its wholly owned subsidiary, West Natuna Exploration Limited.
Duyung is located in the Riau Islands Province, Indonesian waters in the West Natuna area, approximately 100 kilometres to
the north of Matak Island and about 400 kilometres northeast of Singapore.
Gas sales agreement (“GSA”) 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 Indonesian regulator). The negotiation of key
terms is expected to be finalised during Q2 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.
Front End Engineering Design (“FEED”) studies were initiated during Q4 2022, with three separate FEED studies currently being
progressed for the Mobile Offshore Production Unit processing facilities; the Subsea Umbilicals, Risers and Flowlines; and for
the Conductor Support Frame. A geophysical pipeline route survey has commenced and the FEED studies and survey will be
completed by Q2 CY2023.
The process to acquire environmental approvals for development is ongoing. The Government of Indonesia requires certain
environmental permits for any company to conduct any drilling or construction activities within the country. Baseline surveys
are planned to be acquired during early Q2 2023 and the approval process is expected to conclude during Q3 CY2023.
the £266m is the selling of gas. The infrastructure costs are not factored in yet. so circ £50m this shower will sell for and use in china, after they have paid their wages
about £8m
Anyone know what the accumulative debt is now ?.Anyone know what assets are worth -forget the theoretical and the pie in the sky valuations.
Thats based upon gas sales to EME. I suspect the deal value based upon an NPV and confirmed CPR will be worth $40-$50m to EME. That's for a complete full sale of the 8.5% stake.
Gives a share value 6-7p, so a 6x bagger from todays price.
Got to be worth 2 pence a share?
US$266m net to Empyrean.
This is a multibagger
Interesting wording in the CORO RNS regarding Mako farm in. Drag and tag clauses would suggest that both CORO and EME would have no say in any structured deal and could end up having ALL or PART of their share of licence as part of the deal. Either way this is a positive and should generate EME cash when a deal is concluded.
"Coro, which holds a 15.0% interest in the Duyung PSC, may participate pro rata in the farm-down process as various drag and tag along clauses exist in the Joint Operating Agreement. Coro may also entertain a full exit, depending on the terms offered."
I think more £55/60mill. Now after the all the delays.
Roll on with the fire sale so i can exit from this guano.
if they are offered £50m for the full share in Mako, then they should take it
At least we have an update and if sale goes through (if being very important), we will make some money. When and if we get it and what is done with it is a totally different story. Best I can provide as I’m no expert. GLA
I have no idea if rns is good, bad, or just bugger all. Can someone help?
I’m fooking sick of this BOD now. Either send the company bust or give us some info.
Another week ,nothing to report apart from spending their inflated wages. Move along nothing to see here.
Duyung .....GSA this quarter. Looks like a farm down as well. Maybe applicable to EME regarding their interest.
Front End Engineering Design (“FEED”) studies for the Mako development project is progressing and on schedule.
o Negotiation of the key terms of the Mako gas sales agreement between a Singapore buyer and the Indonesian
regulator (SKK Migas) is expected to be finalised during the June quarter, with the Mako gas field being an important
strategic gas asset for both countries.
o The Mako gas field is the largest undeveloped and fully appraised gas field in the West Natuna Basin. Gas is exported
from the basin by pipeline to Singapore. The Competent Person Report commissioned as part of the IPO late last year
estimated the Mako gas field would generate gas sales of approximately US$2.4 billion net to Conrad.
o Conrad has engaged a global investment bank with a proven track record in similar transactions has been engaged to
lead a farm-down process for the divestment of a portion of Conrad’s interest in the Duyung Production Sharing
Contract (“PSC”). Bids are expected to be received during the June quarter and the industry response to date has been
encouraging.
There must be some large shareholders who are as p--sed off with this Bod as we are, maybe ,just maybe they could push for an extraordinary meeting to bring this shower to book.
Gazza - It's fairly obvious for those that can see that is, that Tom & his BOD chums are still taking their lovely salaries, their exorbitant expenses & first class flights / hotels & giving the square root of F' all back. It's your money that you brought EME shares with that they are spending & when it's gone you won't hear a word from them ( a bit like now). This happens all over the AIM so you have been warned, just don't buy any more shares it only encourages them.
What’s happening with this company. We need to know