Member Info for Skippysb01

Conrad have issues a new ASK re the transfer back to Conrad of Coro's interest in Dyung. It also contains the following line re EME:

'Discussions continue with Empyrean Energy to resolve their outstanding cash call arrears to Duyung PSC.'

Not sure we will get full lab results this week for Billy Goat but we should get wireline analysis with target depth reached RNS (as was promised in recent Billy Goat RNS).

Considering the 'retail offer' closes tomorrow. I would expect an RNS on Billy Goat on 21st. Wednesday.

You can see through forward selling now in the last couple of days trading. And yes it can be done legally. Seems obvious in hindsight now.

The retail offer at .45p will look amazing with great BG results. If we get an RNS Monday showing poor wire log analysis at target depth, this won't be worth anywhere near .45p.

I suppose we could infer that they are expecting good results? Dunno.

The way I see it, it isnt worth investing now before Billy Goat results. The SP may well pull away from .45 a little bit but it won't be by much. So may as well wait now. If BG is not good the SP could half from here. IMHO, DYOR. I'm often wrong etc.

Fair enough. This is going to pin the SP to .45 even if the current drill is as huge success. They haven't even announced the terms for the retail offer but we know it's .45p. Does that allow more time to buy in at a lower price?

Can't say I'm not nervous about it. Placing just a day or so before we get initial readout for Billy Goat isnt a great look TBH.

Did they need to issue this RNS. Without any wire log data it seems odd. I suppose it noteable to have such a well charged gas field at shallow depth?

Sounds like they will be at target depth by the weekend and they did RNS that they would wire log at TD so Monday RNS very likely with composition analysis.

Someone is selling out ahead of the well results. It's not surprising when you consider the rise since mid April. Some punters are not interested in waiting for results, especially if they can make a handsome profit now.

I expect there are also plenty of punter wanting to take on the risk and will be buying in this week.

Https://www.youtube.com/watch?v=l9YJGfx0_KY

I the interim accounts RNS from December it was made clear that EME says cashflow from MAKO as resolving it's cashflow and debt challenges. It is high risk BUT if IMHO if the GSA is signed in the coming weeks it will ease those concerns significantly.

To note that EME has previously sold a small % of its interests in MAKO to raise funds. They could do that again.

It IS high risk. Think it's important to note that. But if I was daft enough to take the risk on the Wilson River well then it doesnt feel like a stretch to leave now even smaller investment here and see how MAKO works out.

I invested a small amount here and I can live with losing it so my risk view here isnt what it would be if I was investing a serious amount. I don't think I would do that.

No point in me crying over spilt milk. I did have a very small punt on the basis that if the well failed that the MAKO play will be enough to get the SP back. So I'll just leave the scraps here and see if anything happens.

I spent time looking into the MAKO set up re Conrad yesterday and it does have potential. It's one of those 'could be massive' things and it's worth looking into. You will be better off looking at the Conrad web site than the EME one to get info. Conrad have drilled and flow tested 5 wells at MAKO with an intent to put them into production in 2026. EME has an 8% interest. Conrad is a successful and reliable producer and partner. If they put MAKO into production that 8% is worth several multiples of the current market cap.

But who knows what EME will do in the meantime.

I can imagine Bo looking into the well and saying - so that's where I left that tubing back in the day.....

Makes sense to switch to Linda then.

On test results. They haven't said the results would be 10 days after flow testing. They said that flow testing would take 10 days for each well and results would be released when they get assay results.

Assays can be sent to the lab on day 1 of flow testing. Of course it can be later. It's just a small sample of gas and they wouldn't wait to the end of flow testing? Maybe I'm wrong. In any case the time for the lab to report back is always uncertain and largely depends on what else the lab has in its work stack.

If all is well we might get Linda 1 results whilst they are testing Well 1.

Feel a bit sad for Well 1. It really missed out on interesting well names.

Your rapper analogy makes no sense at all. In any case happy to admit I was wrong about Mako being a proven asset.

Well that's thrown the cat amongst the pigeons.... or the grouse

My last post got scrambled. Link is this:

https://conradasia.com/projects/

Not everyone asking questions is a de rapper 'subtle' or otherwise. The quality of discussion on this board has been appalling, with practically no useful insight - a bit better today.

Since my last post I found more details of Conrad drilling Mako. So yes it is a discovered resource. Here is a the link:

From RNS:

'The JV partners in The Wilson River-1 have decided to conduct a Drill Stem Test ("DST") over the potential oil zone identified from analysis of logs and hydrocarbon shows from the well. The JV is currently refining the testing and completion options and getting quotes to carry out the work.

The testing program is currently on schedule to commence during late April. Following the results of the testing program the JV will consider an extended production test.

Other potential zones of interest are still having petrophysical analysis completed along with comparison to producing wells in the region where data is available.'

This followed by other RNS's with the lates news being that the DST would start early May (it's now mid May). I had a look into this and it;s true they might not need to announce start of DST.... I can't imagine why they wouldn't at least tweet this - but this company don't do that. I'm not concerned about the reasons for delay - weather.

There is very little info to be had on this company. Website doesnt mention Wilson River outside of the recent RNS's and the RNS's contain very scant information. No data. Nothing about oil samples, no cut, smell info etc.

Has anyone been able to find anything about oil production in the local area? They seem to think the well might be similar to other nearby wells or at least are reviewing that.

https://conradasia.com/projects/

That X post is from 8th May

I think Mako is for a deal covering gas production for resources that are not yet drilled? Someone will correct me if i'm wrong.

Eddy. This type of DST is more likely to take hours than weeks. It isnt a full flow test and it says in the RNS that they are doing the DST and based on that they will decide on whether to do production testing. It won't take long and they do have to announce the results of the DST.

To note that heavy rain is forecast towards the end of this week in the Wilson River area. I haven't looked at the weather since start of May and wondering if it's still a delaying factor.