Member Info for pied_piper

The first two trades at 14.17 were sells.

Just got to get the placing out of the way - probably at .02p. Then it can move again.

Well at least they finally got round to appointing someone to do the WNTS - Pemping pipeline spur. PLN EPI appointed Timas Suplindo earlier today - so something is happening!

I take it none of the "experts" here bothered to go to the AGM yesterday? My understanding was that the BoD were hardly full of enthusiasm or optimism about the future.

Maybe the phrase was more like "not particularly clued up or forthcoming".

What they're saying is "don't expect anything on Mako this side of Christmas".

You could have saved yourself a lot of trouble with multiple posts of stuff everyone knows already.

The question is - Can Conrad get a farm out any time soon and, if they do, will it be at a price that is sufficiently advantageous for eme to pay off all their debt?

The market doesn't seem to think so at the moment - either eme or Conrad -which is pretty dead atm.

Time will tell.

Agreed. Not nice but it's what rampers like him and JT71 deserve. I couldn't resist!

Where are you sirmark? I hope you took my advice a week ago. It's still too early though - imo. Take your time!

"pied_piper

11 Sep 2025 11:08

Posts: 97

Price: 0.0575

No Opinion

Go on, go for it sirmark. There's 25 mil available at .06. Perfectly liquid if you want to buy. Getting out is another thing altogether.

Why you would want to buy here when you will get them at .05p in a week or so, is a strange trading tactic though."

"Material" news is anyone's guess. But there should be an update in the Conrad quarterlies at the end of October when, for sure, the phrase "in the coming weeks" will be used.

I don't know where that has come from but the company only has one project - Mako. It lost all rights to China in June (?) of last year and Sacramento has been dead for several years. No chance of sticking any money there.

Conrad have recently said they want to farm down to a "minority" interest - assuming their purchase of Coro's 15% is consummated and Conrad interest therefore goes to 91.5%. Before the Coro deal, they said they were looking to reduce from 76.5% down to about 40%.

Prior to TK's passing, eme have maintained they are after a total sale of their 8.5%.

I assume you're joking Fell? They haven't even found someone to build the pipeline spur yet and in an interview on 12th July the Conrad CEO stated that they hoped to have revenues in 2-3 years.

2027 is best hope.

Sirmark. Given your trading MO, you would know better than most that predicting price movements and timing are critical.

I happen to think that there is absolutely no rush to get involved long yet. Interest in Conrad s/p is zero atm. Trades in Conrad were nil today. There were nil yesterday. The contractor for the pipeline spur was going to be announced in third week of August. It still hasn't happened.

This is typical Indonesia - things take for ever to get done and one needs to make sure you are bribing the right person before they get moved to a new position (as has recently happened with the oil minister and today there is a new finance minister) and then you need to bribe new officials. It is one of the most corrupt countries that purport to be a free, modern economy.

As the days and weeks tick by with no substantial news, it is likely that people here get bored and more nervous. The promises have been going on for about 5 years now. And then there is no guarantee that a farm out will happen - and even if it does, there is no guarantee it will be at a level that makes people here that happy.

I may be wrong (and surprised!) but I really think there is little point in rushing in.

Go on, go for it sirmark. There's 25 mil available at .06. Perfectly liquid if you want to buy. Getting out is another thing altogether.

Why you would want to buy here when you will get them at .05p in a week or so, is a strange trading tactic though.

Eddy. Potential oil discovery won't come into it. It'll be the amount CNOOC actually expended, plus possibly loss of profit on the use of their rigs, tugs etc.

I would be very surprised, if CNOOC pursue , that the amount is more than $4m including costs - provided it's settled out of court.

You're right Eddy - it didn't come to that amount and CNOOC, up to a point are trying it on.

The base cost of the drill was estimated at $12m and if CNOOC were to sue, they would have to demonstrate what their actual loss was. Clearly it won't be $12m. However, eme are definitely in breach of contract so CNOOC would win but the question is how much. If it gets that far (and eme have any money) it is more likely settle out of court.

Gaz was the one keeping them at bay but his influence appears to be on the wane,

I would hazard a guess that JT71 and sirmark are part of it.

Medjed, your AI question missed the question I was posing.

It wasn't, as you put it, "Would lenders call in the loan to gain stake of Mako themselves?". It was more of a "In the event that lenders think Administration is a possibility, would they call in their loan (which eme would fail to pay) in order to secure control of their security, rather than let the stake get into the hands of the Administrators (albeit probably temporarily)?

Given that the CNOOC $12m claim is very much back as a possibility, I wonder how that will alter the CLN holders thinking?

Their loan now stands at circa $9.5m and is growing at $100k per month. At what point do they call in their loan in order to cement control over their security - namely 8.5% of Mako. Better in their hands rather than running the risk that CNOOC go for the jugular and eme are forced to pull the plug? It must cross their minds - especially following the passing of TK.

Lol. You mean apart from CNOOC re-iterating their claim for $12m for breach of contrat after everyone thought that problem had gone away a year ago? That sort of "nothing new".