Member Info for MrH_m

So you are agreeing with with I have just said in the post below then lol

Assuming it can be completed without EMEs inclusion, I don’t agree with the “wobble down” bit at all. Once the farm-down price is out, people will just value our 8.5% off that number. We’re only this low because nobody knows what Mako is actually being sold for. A real valuation usually sends the price up, not down.

Yes genius, it is true I find people who annoy me annoying 😂🤦🏻‍♂️

He’s MI6 (shhhh though)

I’m enjoying this one @Golf :-)

@ SteveE60 - what happened mate? You used to be the no 1 ramper of this share back in the Echo days, regularly taking shots at Ranger et al …

SteveE60

Posts: 3,443

Price: 0.00

No Opinion

Invested but not as bright as others

20 Sep 2024 11:49

I do wish people would recognise that some of us have put a good chunk of change into this new venture and does effect us although I speak for myself When you just spread fear and negativity does it need to said ? Do you enjoy Seeing your fellow man or woman lose some of there serenity please think twice before posting if I lose I lose ànd the if my gut was right let me enjoy the moment peace to all and wish you all well

SteveE60

Posts: 3,443

Price: 0.0028

No Opinion

Dear ranger

18 Sep 2024 16:26

Please teach me how to make money your lack of humility whilst travelling around Europe suggests your a genius you don't have a family friend called trump as you sound similar

SteveE60

Posts: 3,443

Price: 0.003

No Opinion

Good entry level ?

18 Sep 2024 09:38

Cdf and chadster please leave me some stock I only have in excess of 250 million of these golden beauties how many more millions do i need to declare a tr1

SteveE60

Posts: 3,443

Price: 0.0027

No Opinion

Yum yum price

16 Sep 2024 15:29

Just bought 2800 pounds over 1060000

Pretty clear to me where this is heading.

EME have already said the Notice isn’t valid and that they’ll take “all necessary action” to protect their interest. That’s normally the language you use when you’re lining up an injunction.

Conrad tried to pull a fast one right in the middle of a live dispute and days before a big farm-out. No buyer is going to accept that and no court is going to let Conrad steamroll a JV partner while the disagreement is still being argued.

If EME thinks Conrad are about to act on the Notice or present the farm-out as if the 8.5% is already theirs, the quickest and only real move is an emergency injunction to freeze everything and hold the status quo.

It wouldn't surprise me if their lawyers were in attendance at the Royal Courts of Justice getting that rubber stamped today!

Nobody’s saying anyone is paying on “revenues”. The whole point here is that Conrad isn’t trying to buy our 8.5% like a normal reserves-based farm-in.

They’re trying to clear the JV out because the incoming partner wants the whole working interest clean, just like they did with Coro. That moves the valuation into “what is the buyer paying for the package as a whole”.

If the buyer is paying a premium for clean title, for a fast-track development, or for political certainty with Indonesia (which it looks like they are), then EME can absolutely hold out for a better settlement than some back-of-a-napkin TCF conversion.

And like i said, the relationship between EME and Conrad is finished. There’s no way EME accepts a lowball RBL-style number just to help Conrad tidy this up. We either:

• get a proper cash settlement based on the final deal terms (and that’s £10–15m+ net), or

• we keep our full 8.5% with a carry, because Conrad will have to renegotiate their own share to make it work.

We’re not here to make life easy for them. They caused this mess. The buyer needs it cleaned up. That gives EME leverage - more than people think.

The relationship between EME and Conrad is presumably beyond repair, so we may as well hold out for min £15m net, or we keep our 8.5% full carry (meaning Conrad will have to renegotiate their share). Staying around and exchanging for shares in Conrad is not really an option available in these circumstances IMO

Interesting

Just to add one more thing on top of what I said earlier, because it’s actually a huge clue that people are skipping past:

The way Conrad have acted here pretty much confirms that EME’s 8.5% WAS tied into the farm-out structure. You don’t suddenly try to boot out a JV partner days before signing unless the buyer wants the whole package clean. If the buyer wasn’t bothered about EME’s slice, Conrad wouldn’t be taking this sort of risk right now. The timing says it all.

Get all this sorted and we COULD be in a Stronger position than before.

😂

A bit of perspective because there’s a lot of panic and noise flying around today.

Conrad have actually made a mess for themselves, not for EME. By firing off that “forced withdrawal” notice right in the middle of a live dispute, they’ve created title uncertainty at the exact moment they’re trying to complete a major farm-down. No serious buyer is going to sign off a multi-hundred-million deal while 8.5% of the PSC is tied up in a legal argument. That alone freezes the process.

The important bit people are missing is this: EME’s 8.5% is the only asset that can underpin any settlement, damages claim or arbitration outcome. Conrad can’t just take it and also rely on it for legal remedy. That’s a contradiction. They know it and their lawyers know it.

Dragging this out actually helps EME. The longer the dispute sits unresolved, the more pressure falls on Conrad – their buyer wants clean title, ASX want clarity, and the deal can’t complete until this is sorted. EME’s downside at this point is limited; Conrad’s isn’t. That shifts the leverage.

A settlement where EME keeps its stake (or even a reduced but protected/carry version of it) is still by far the most realistic outcome. Outright loss of 8.5% is the least likely option. The market’s pricing in worst case based on fear, not on how these things actually work.

Plenty still to play for here. Once clarity lands, the share price won’t be sitting at these levels.

You mean there’s no small vans and / or bikes with a 360 degree camera mapping out the area? 😀

Lest be clear - Conrad will pay (min) 100 x what they are owed in legal costs should they decide to continue being dicks

Sorry, it’s a 2 day extension not 1 day, so they have an extra day to sort this not just tonight. I can’t see any further extensions being agreed with this news hanging over the deal however

I would back English lawyers over Aussie lawyers all day long

I don’t want to add Q #19 - add that as your Q @Golf

Furthermore, whoever is advising Conrad should clearly give their heads a wobble

EME releasing this news was 100% the best play - Conrad now have the night to sort this or their own sp gets hammered when the Aussies wake up in the am. Conrad will not be pleased with this being released at this stage