Member Info for MrH_m

Current bid for all my shares - 0.113 (Lloyds)

The bigger picture here is huge. Lots of useful posts last week and over the weekend for any still in doubt. When this goes it goes …

*sentiment

Good question - we should get back to the 0.17p levels based on sentient alone; the market now knows we have a viable future thanks to Mako. That’s not the main ‘rerate’ though. I see that coming in stages as the following milestones (as you say) are met:

- lender/CLN restructure confirmed (no dilution)

- final settlement paperwork signed, SPV properly in place

- FID - Indonesian approvals for the farm-in and PI transfers

- first cash instalment from Nations actually received

- updates showing build starting

- updates as the gas production moves to commencement

With so many key milestones comes less risk on completion of each one, so the sp could literally move from 0.17p to 0.4p over the next 12 months fairly easily.

That’s why I’m bottom drawing this anyway 👍🏻

Initial dip followed by another 35%+ day

The fact that the lenders are agreeing to restructure the secured loan by getting paid first out of WNEL dividends, and EME have said the lender’s been supportive, is very bullish. They could have been a real thorn in our side, and I believe this was a big factor holding the share price back.

Before this the lender was looking at a company with a disputed asset, no funding and a risk of getting very little back. Now the project’s funded, dispute’s gone, first gas targeted 2027 and there’s proper cashflow coming in - they will be very happy with the outcome reached, just like us.

If this was a bad deal for them they’d be enforcing security or forcing dilution, not agreeing new terms. So this bodes will for no significant further dilution in the future.

GLA

Will do Golf - have a good one 👍🏻

Agreed - only one way this is going next week! Great day. Relax and catch up next week 👍🏻

@Blue road,

Conrad said last night the settlement is on a binding term sheet – so commercially agreed.

The Withdrawal notice has been pulled, the cash call dispute closed, and Nations are fully funding development through to first gas (target Q4 2027).

Structure is EME’s 8.5% moving into the SPV alongside Conrad, with EME entitled to 8.5% of all farm-out consideration paid to WNEL and ongoing dividends from the remaining 25% stake (which is carried). So no more future cash calls for EME.

Final legal docs still to be signed and Indonesian approvals still needed (normal for deals like this but Nations are the state - backed provider so unlikely to be any issues re FID) but the hard part – the commercial agreement – is done.

On the circa 6bn shares / consolidation question – nothing mentioned anywhere by EME or Conrad. No hint of it in RNS. If it was planned they’d have to flag it, so unlikely at this stage as others have suggested.

I wish you well if you decide to jump in 👍🏻

I’m being deliberately reserved so as not to be too ‘rampy’ but yes, you could very well be right there! Defo one for the bottom drawer 👍🏻

Whats your current view Gaz?

PLUS we are a much safer bet for lenders now, so 'any' short-term funding needs should result in much better terms, potentially at a premium

Im in there yes @golf lol

@Golf - we did yes, but there was always doubt about the CLNs / cash calls etc which some said would wuipe out any net benefit. Now that has all but gone, we will have a clean balance sheet effectively so i think 0.2p initially, then a steady climb to 0.4p over the coming weeks / months when further updates are dripped in. If we will be receiving min £2/3m per year from 2027 just from Mako then our market cap should be x5 of that (min) plus any new projects that EME announce in the coming months

Review all posts below and you will get the answer you seek

I think higher than that + a sticky finish :-)

Yep - today is not the day to discuss the numbers through to production, but I have done that offline, and the figures are astounding through to 2037.

Read the room ethan

When we had our original 8.5% stake in Mako, before the signed agreement with Nations, we would have had to fund 8.5% of the capex costs. Now we dont, as Nations are funding that. So the way to look at it is not that we have given away a big chunk of the 8.5% we had, we have effectively gained in not having to fund the astronomical cost of getting mako to production, plus we still get 8.5% of the 25%. So the net effect is better for little old EME

How the hell have you misread / misunderstood that so badly 😂😂😂