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CRD. Trading Last Night.
With 4.5 trading days only before 25 th December it is interesting to see the volume and number of trades last night ; this was the highest since listing.
From their website, it is very apparent through the other joint South East Asian projects they have a successful and professional relationship with the Indonesian Govt ; why one asks therefore has the GSA not yet been signed off ?
Are Indonesia, arguably the next China in terms of economic growth / output etc. looking for a much larger volume of the Mako gas than originally anticipated ?
The GSA will be signed off according to Mario before Christmas, hopefully an update on Monday.
I have posted the below link to the Conrad Asia website ; it is worth reassuring oneself as to how EXTREMELY important this GSA is to the future of CRD as well as to EME and CORO
https://conradasia.com/
Not a time to be selling IMO
Please DYOR.
May I suggest. Switch to the other board. Here there’s nothing of any note ~ sadly ~ posted.
Conrad IPO appears to have been successful, closing to institutional investors at 16.00 hrs ASX. Will surely enthuse those Indonesian ~ and Singapore based ( ? ) companies to conclude GSA agreement ( s ) with Conrad Asia, CORO and EME ASAP. Please DYOR.
Rpg, re : CLN the below posted a few weeks ago : thanks to' georgesorrow ' on the other forum
'' Like most here I have started to fret about the loan note holder (LNH) redeeming the loan note immediately after 31 July if a binding GSA has not been signed. At that point the value of the convertible note would be £2.67m.
But it is not a foregone conclusion that the LNH will want to do this. The LNH had the right to redeem the note within five days of the Jade well announcement, when its value was £2.2m, but chose not to and restructured instead.
The face value of the note is £3.3m at the moment. If the GSA is not signed by 31 July and the LNH chooses to redeem shortly afterwards, the face value falls to £2.67m as stated in the RNS dated 10/5/22, so the LNH appears to be taking an instant £630k hit by opting to redeem.
If the LNH has confidence the GSA will be signed in the near future, it could choose to sit tight, and so EME's short-term financinng problems recede.
The wording of the RNS is actually pretty inadequate in that it only describes two scenarios, when there are clearly many others. It says:
"If a binding GSA is not entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022, the Lender may redeem the Convertible Note at any time thereafter, in which circumstances the face value of the Convertible Note will be reduced to GBP2.67 million;"
This can be read as EME being rewarded for lateness in the GSA being signed to the tune of £630k, irrespective of when the LNH chooses to redeem thereafter ("at any time thereafter"), i.e. before or after the GSA is eventually signed. I can't imagine this is the case.
The RNS also says:
"If a binding GSA is entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022, the Lender will not redeem the Convertible Note prior to 1 December 2022, with interest accruing thereafter at a rate of GBP330,000 per calendar month;"
Taken literally this means that we only have to worry about £330k/month interest from December if the GSA is signed in July, and that if the deadline is missed and Duyung has not been sold then none of this applies. Again, I can't imagine this is the case.
The wording is clearly inadequate. If the GSA is signed in say September and the LNH chooses not to redeem in advance of a sale of Duyung, is the value of the loan note £3.3m or £2.67m? And does the interest kick in from December or not?
Anyway, my take from revisiting the RNS is that it is not a foregone conclusion that the LNH will choose to redeem shortly after the 31 July deadline.
The option is there, but the LNH may prefer to sit tight meaning that a cash call/placement is not necessary. But I would be resassured by a more comprehensive statement on the debt restructuring that covers all scenarios.
The more you look at the wording of the RNS, the more confusing it becomes. ''
An interesting post by ' sue999 ' on the other forum, hope won't mind my sharing here for thoughts as well ? '' One important point is that Conrad Energy which is a private Ltd company plans to go public in 2022. The IPO will be for the Australia, and before they do this they need to give a realistic valuation of the Duyung which they own 76.5%. This can be done before the end of the year?! The value of EME's 8.5% could be higher than estimated after the IPO. The longer EME can sit on the asset, the better value can be released.
Conrad aims to start Feed work on the development plan and that would also increase the value of the asset. Can the three companies merge. Coro, Eme and Conrad and develop the asset. ''
How many shares does TK hold, 88,888,888 ? Gaz, I'm not too sure, but a substantial number as well. How many - substantial - fellow shareholders don't think TK and GB will be busting their balls to get Topaz drilled ? Rhetorical question btw.
From ADVFN bb. 1,100,000. 2,000,000. 1,500,000. BUYS.
It’s a report on last Mondays RNS update.
Nametrade. An interesting article - dated. : 4th March 2021. ?
Many thanks Lobon, 2Q results being released shortly plus updates on Canadian assets ( Alberta Plains and ABC ~ recent ) and Borba ( flow rates ~ recent ) plus the Phillipines ( recent ). Acquiring approx $ 75 mill + plus of 2D & 3D seismic in the Phillipines ~ and the rest ~ for a $ hardly a terrible decision. Correction, soon to be a mid tier producer I'd suggest. My last post on the matter too. All IMHO. Please DYOR. Now back to SAVE !
Lobon, with respect, not ramping, purely mentioning. SGC btw is now a mid tier producer ( recent acquisition of assets in Canada ) recent Borba well discovery / flow rates due any day and
recent acquisition in the Philippines. In defense of your critique its now a totally different company to three years ago. This the SAVE bb, let's leave it there, thanks. Please DYOR IMHO
In light of below posts, perhaps cast an eye over Sacgasco ? :
http://www.sacgasco.com/wp-content/uploads/2021/07/2021.07.05-ASX-Sacgasco-Acquires-6-Oil-Discoveries-in-Philippines-ED-Portfolio.pdf
California / Alberta Canada / Philippines
Please DYOR IMHO
EME RNS. have withdrawn from Borba prospect, focusing on Far East Please DYOR.
SGC released good update on prep for Borba prospect, all weather drilling platform being constricted PLUS. in comms with several potential farm in partners ....
SGC : Borba presentation / interview with GJ 31.08.2020
Presentation :
https://hotcopper.com.au/threads/ann-investor-presentation-31-august-2020-borba-project.5594267/
Interview :
https://www.investorstream.com.au/sacgasco-release-aug-31
Independent Resource Update on Borba in a fortnights' time
Borba spud date tbc ~ perhaps eight weeks time.
Please DYOR
Have to say, after listening to previous interviews with AK, this interviewer IMHO is excellent.
FWIW. Any further thoughts on RMP looking to become involved with fellow junior O & G ASX listed companies, SGC, XST and EME on the Borba prospect ? Only 5 months left for RMP. Borba prospect is due to be drilled 4Q. A potentially transformational well, working capital needed... Please DYOR.m.
'' 10 August 2020
Red Emperor Resources NL
AIM Rule 15 Cash Shell Status
The Board of Red Emperor Resources NL (ASX/AIM: RMP) (“RMP”, “Red Emperor”
or the “Company”) announces that, pursuant to the relinquishment of the Western
Blocks on the North Slope, Alaska (ADL#s 391718, 391719, 319720 & 391721)
as announced on 24 July 2020 (the “Relinquishment”), the Company has become
an AIM Rule 15 cash shell (“AIM Rule 15 Cash Shell”).
As an AIM Rule 15 Cash Shell, the Company is required to make an acquisition,
or acquisitions, which constitutes a reverse takeover under AIM Rule 14 (including
seeking re-admission under the AIM Rules for Companies) within six months from
21 July 2020.
Alternatively, within such time period, the Company can seek to
become an investing company pursuant to AIM Rule 8, which requires, inter alia,
the raising of at least £6 million and publication of an admission document. In
the event that the Company does not complete a reverse takeover under AIM
Rule 14 within such six month period or seek re-admission to trading on AIM as
an investing company pursuant to AIM Rule 8 (either being, a “Re-admission
Transaction”), the Company's ordinary shares would be suspended from trading
pursuant to AIM Rule 40.
Thereafter, if a Re-admission Transaction has not been
completed within a further six month period, admission to trading on AIM of the
Company’s ordinary shares would be cancelled.
As at 30 June 2020, Red Emperor had cash at bank of approximately A$ 4.6m.
The Company will continue to evaluate a number of oil and gas opportunities in
line with its strategy and principal activities since being admitted to trading on
AIM in 2011. A further announcement(s) will be made as and when appropriate.
https://hotcopper.com.au/threads/ann-aim-rule-15-cash-shell-status.5546219/ ''
Please DYOR
John Begg was a colleague of Gary Jeffery’s at XST several years ago. SGC, XST and EME are looking to drill the Borba prospect in California in Q4. More funding is required and WI’s are yet to be announced. SGC, RMP, XST and EME are all based in Perth. Could RMP be farming into Borba ? Please DYOR.
Agree 100 % . Agadem’s , Paul’s and Zengas’ posts in particular are always extremely informative, well intended and interesting to read. DP, an apology should be forthcoming please ...