Member Info for JF92

There is every chance we re-test and break 0.15 today going off those delayed trades

Those in the know are accumulating, I wouldn't be surprised if the farm in agreement is signed. RNS due in the coming weeks

Break 0.15 and we're straight to .20

The Long Road, spot on. The market will correct itself over the coming weeks and months. £7million market cap vs 8.5% of $3billion of revenue.

The farm out news is also due imminently so a slow steady rise and consolidation around .2 before we receive that RNS and we could well see 1p

If anyone thinks this is dropping to placing price, think again. Watch the below, conrad confirm $3billion of revenue for interested parties of which EME have 8.5%.

Towards the end of the video, he talks about the farm in as if its already agreed. This is that once a year AIM share that 10x bags multiple times over.

we have an mcap of £6million as a reminder ...

https://m.youtube.com/watch?v=-RG2FjjcxXM

I hope that the placing has been used to settle the outstanding debt to conrad.

If so that means the farm out / JV can go ahead without any issue. The news of a farm out with favourable terms will get us another 5 bags

Having an asset is one thing, the positive difference with EME is they have a sales agreement with a government subsidiary to sell gas and are entitled to 8.5% of the sales as per the pro rata terms i reference below.

My personal initial target is a £20million mcap based on the current position, news of a JV/farm out/ or sale of their stake would push this to the £50million mcap territory imo.

Fingers crossed for the farm out news in the coming weeks/months.

Coro have received shares in conrad in return of their 15% stake and also receive a further $750,000 worth of conrad shares on first production in 2027,

Coro writing off their debt, de risking and receiving shares in conrad in return.

Conrad also stated that the transfer of Coros 15% will make the farm out much easier to complete.

Do agree though, with the agreement now signed and farm out due Coro have undersold their asset

I think this is absolutely key, found in EME March RNS.

In parallel, Conrad have advised that negotiations on the sale/ farmout of some of Conrad's Participating Interest ("Pl") in Duyung PSC are advancing, in light of the revised contract arrangements. Empyrean has tag along/ drag along rights that enable participation in any sale/ farmout on pro-rata terms.

Statements taken from conrads June RNS below on funding:

"The finalisation of the GSA with PGN and in particular with Sembcorp in 2024 increased the Mako project’s profile andspurred renewed focus in the farm down process. Additional parties expressed interest and the process wasreinvigorated. We received non-binding offers and entered into confidential discussions with one specific party"

"The GSAs with Sembcorp and PGN as mentioned above were terminated and eventually replaced by a new GSA with PLN earlier this year. Although commercially this change didn’t affect the project, the transition from one buyer to the other caused uncertainty to the parties that we were negotiating and impacted their pace of evaluation. With the most recent added clarity provided by the agreed terms of the PLN GSA and the approvals by the MEMR and the authorisation for signing of SKK Migas, the farmdown process gained renewed momentum and we hope that we will be able to announce a successful outcome in the next few months"

Conrad have an offer for farm out and look to accounce agreement in a few months, that was back in June so news imminent

Total debt stands at $13million with an asset worth $250million...

£5million mcap, only going 1 way

This will rise into close in anticipation for next week where it will find a new range between 0.15-0.22

RNS from 2024 - "Gas is exported from the basin by pipeline to Singapore. The competent person's report commissioned as part of Conrad's IPO late last year estimated that Mako would generate gas sales of US$2.4 billion net to Conrad's 76.5% interest (~equivalent to US$266m net to Empyrean)."

Don't see why it matters, share price fluctuate on all shares throughout the day, week, month. What we do know that in the coming weeks ahead it will be much higher.

My personal target is £20million Mcap.

The share placing is valued at £1 million. The deal signed last week is worth 8.5% of $2.2 Billion...... I think we know where this is heading once placing is cleared

As mentioned yesterday, EME will release a TR1 for the placing shares perhaps tomorrow or early next week.. then a following TR1 should follow to show all placing shares have been sold. Until then, the share price will float around .09 - 0.12

There are a lot of companies looking to IPO this year, IFOREX for example. Icon being main market is a massive plus and can't see why Icon would struggle to find a suiter

Jethrodave, TR1 to indicate the placing shares have been sold. The shares are not formally due for admission until Friday so don't expect we will receive news before then

I'll be happy if the SP stays around here until the TR1, it will do 100% on that RNS

The TR1 will see us to .2 & beyond, the optimist in me can see this being issued on Friday, most likely next week