Member Info for pied_piper

James Trader. And you call me desperate!! Take a step back and look at all your posts in the last 40 minutes.

That's probably the funniest thing anyone has posted here. Ever.

You really believe that a share like this, where everything hinges on one deal is supported by charts???????????

It's farm in, or bust based on the deal price. Nothing else.

It's a nice group of people here. Everyone holding each others hands. Everyone encouraging others to buy more - to hopefully push the price up and lighten their own load, or just make themselves feel a bit better.

Sweet really. This could go on for weeks and weeks yet. When was the first farm out anticipated? Three years ago, I believe.

You'll get your wish Brewster. Maybe .105p

Who I am is hardly relevant. Facts are facts. Conrad have indicated where their thinking on the financing is and people choose to ignore.

And Conrad btw, has a market cap currently around $75m and only two real trades were done today. The excitement of all this lovely money they're supposedly going to receive doesn't seem to have reached their shores yet.

Instead of trying to calculate what eme might be worth and what the debt might be, why not start with Conrad and go from there?

I know people find it boring and inconvenient but Conrad have stated the following - admittedly when they were only talking about 76.5%:

They want to farm out down to 40%.

Their share of Capex is $130 million

They are likely to have to borrow 60-70% of that to fund the Capex.

However hard you try, that does not imply they think they're going to get $1.2 billion from their sale ( which is roughly what that would be if eme got $110m to justify a 1p share price)

For Conrad to get $1.2 billion AND keep 40% of the project implies a total valuation for the buyer of $2 billion AND the buyer still has to pay their share of the Capex . With gross sales over 11 years of say, $3billion it just doesn't add up.

From ADVFN bb:

"Wtf is Kelly up to? Nothing paid for nearly two years. I thought that's why he raised the money in order to pay off Conrad and keep the loan note holders at bay?

"Discussions are continuing with Conrad’s other partner in the Duyung PSC, Empyrean Energy seeking to settle a dispute. As previously announced Conrad has issued Empyrean with a default notice for not paying cash calls since October 2023." "

Based on what Conrad have said, best case for their stake is around $150m. $17m at best. That would equate to empyrean getting $13-15m

Current Empyrean debt? $12-13m. Further payout to loan note holders?? Based on their current agreement would be around $2m.

So roughly speaking when you add it all up and the dust settles, you have a company with no debt, no cash and no projects.

I'll pop back later to see if there is a constructive counter argument, rather than just shouting.

Have a nice day.

There you go again.

You don't like what I've said because it doesn't fit the ramping narrative - but the only response is to tell me to go away.

Let's see a counter argument to what Conrad have said. It's that simple

Lol. You're all the same. You're all shouting this is going to the moon, but nobody can counteract the facts of what Conrad has said. I'd love to hear it. Maybe then I can join the party...

Rather than shouting at me, why don't you give a reasoned argument for disputing the numbers that THEY gave??

I have enough ability to read announcements that Conrad put out and listen to interviews their directors give - if that's what you mean GoBig?

How on earth do you think this is worth £50m. I.e about $68m. That would mean Conrad getting circa $750m for their stake.

If that's the case why would Conrad have stated that they need to raise a bank loan of 60-70% of their Capex costs (I.e circa $85m) just so that they can afford to stay in.

Your numbers don't add up!

You miss the point. My research tells me this is a waste of money investing in empyrean.

My agenda is to invest in companies that will make me a profit. The vitriolic response to perfectly valid questions that nobody has been able to refute tells me what I was beginning to suspect from my research yesterday and the reading of other boards.

Based on what Conrad have said, these numbers for empyrean just don't add up. So I'll leave you all to your blinkered rampfest.

Adieu

I did know that. The pipeline was never on the Conrad/JV slop sheet anyway as the plan was to use existing WNTS pipeline to send all the gas to Singapore and it was up to the Indonesians how they onward transported their domestic portion - so that makes no difference to their calculations or that of a buyer.

Conrad also stated that the sales value of the original GSA (which had a domestic and export offtake) and the new GSA into Indonesia, is the same. So that makes no difference either.

The fact that Conrad now has 91.5% is probably helpful to them (they can offer a bigger slicer for the same capital amount) but slightly detrimental to empyrean. We won't mention that Coro only got $1m for their 15%!

Sure. Listen to this interview with one of their NED's , Mario Traviati. From memory , it's 5-10 minutes in.

https://stockhead.com.au/energy/rock-yarns-growing-gas-in-asia-with-conrad-asia-energy/

It took me ages to to find my password.

However. They may be different companies but they both own a percentage of Duyung. Are you saying that 1% that Conrad owns has a different sales value to 1% that empyrean owns? That can't be right!

In their financial accounts. Interims to 30/9/24. No income. Trade creditors $3m. Loan note holders $8.5m. That is increasing by 20% p.a. so add another $1.5m to the debt by now. And the loan note holders get 15% of the gross sale value of Duyung. So another $3m if they get $20m from the sale.