Coro energy paid up , just conrad and eme17 Nov 2025 19:54
This is old news and dates back to may but were clearly not looking at conrad only holding 75% they actually do own 91.5% , whats the chance we are in for a buy out ? . Conrad Asia Energy recently settled a long-standing dispute with its 15% shareholder, Coro Energy, over the Mako gas field deal, resulting in Conrad increasing its stake in the project.
The dispute centered on historic cash call arrears owed by Coro Energy for its 15% interest in the Duyung Production Sharing Contract (PSC), which contains the Mako gas field. A settlement agreement was approved by Coro shareholders in April 2025 and finalized in May 2025.
Key aspects of the resolution:
Conrad's interest increased from 76.5% to 91.5% in the Duyung PSC.
Coro Energy divested its entire 15% stake in the asset to Conrad.
Coro was released from all further cash call obligations.
Coro received a cash payment of $300,000 and future Conrad shares tied to commercial production.
This agreement resolved the joint venture issue and simplified the project structure, allowing Conrad to move closer to a final investment decision (FID) for the Mako development.
Conrad has since signed binding gas sales agreements for all Mako gas with Indonesian state-owned entities PLN Energi Primer Indonesia and PT Perusahaan Gas Negara, targeting the domestic market in Indonesia.