The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Not sure if noted here but CORO recent announcement extract below. CORO now actively seeking an asset sale.
· The Company will continue to actively pursue and support Conrad Asia Energy LTD, as the operator of the Duyung PSC, to pursue the sale of the Duyung PSC asset; and
· In the event of a sale of the Company's interest in the Duyung PSC, the net cash proceeds of such disposal(s) will be utilised to first repay the capital and rolled up interest on the Notes and thereafter to distribute 20% of remaining net proceed(s) to Noteholders. The remaining net proceeds of any sales will be retained and/or distributed to shareholders by the Company.
great to see the well has spud and making good progress, Tom clearly is going to be updating us at every stage which is great. first move above 12p has been rejected, obvious CLN still being fed into the market but volume has been very decent last couple sessions so a matter of time, once that supply of stock does dry up then we potentially will see some big movement and difficulty buying.
A break through 12.1p opens up 17/18p according to Mr Mir.
Looking at volume I can’t imagine there is much left for the CLNs, expect to see an rns this week to confirm final conversion which we suspect are already forward sold.
Spud confirmation tomorrow and the eagerly awaited GSA is due any day now.
Exciting times all!
Difficult to value, ultimately will be what any potential buyer is will to pay in the event of an asset sale. That said the gsa marks another commercial milestone and enables projected cash flows based on development plan, I.e. a more specific valuation can be applied. Certainly worth a lot lot more than 3/4 months ago due to market prices which are being reflected in the agreement according to gaz!
You then look at Coro quite rightly @15% interest and think their mcap is cheap, I’m sure both can do very well out of the project but it’s EME for me with Jade approaching.
sit back and wait;
potential news;
- GSA agreement(s) (CORO confirmed imminent last week, Gaz also confirmed in recent interview)
- Recovery of cyber fraud funds
- Rig move confirmation / Spud confirmation
Gaz also confirmed we will get regular updates for the Jade well as it progresses through to TD.
sure he covered EME back along when drilling for gas in Sacramento, did some big write ups which basically regurgitated RNS info. he doesn't exactly instil any confidence with his videos... would say hes none the wiser than your avergae PI lol.
irrespective the potential is colossal as detailed in the Cenkos note.