Member Info for waveygravey538

Revenue 75% nations.8.5% empyrean.16.5% wnel!!!keep up!!

Resources: Estimated to contain 376 billion cubic feet of \(2C\) contingent resources. plus 25% or 16.5% on revenue from sales of resources depending on outcome of legal dispute!!

My portfolio looks like a scene from high plains drifter today!!!

Another sleepless night yet again!!!!!

Key Terms and Current Dispute Points

Participating Interests: Empyrean Energy holds an 8.5% participating interest in the Duyung PSC, while Conrad (through its subsidiary WNEL) is the operator with a 76.5% interest.

Funding Obligations: Under the JOA, partners are required to contribute their pro-rata share of project costs through "cash calls" issued by the operator (Conrad/WNEL).

Dispute Resolution: The agreement includes specific procedures for resolving disputes. Empyrean asserts that a formal dispute-resolution process was ongoing when the recent notice was issued.

Forced Withdrawal Clause: A critical, and currently disputed, term is a clause that allows for a "Notice of Election of Remedy and Forced Withdrawal" if a partner defaults on its obligations (such as unpaid cash calls). If validly enforced, this would result in Empyrean's 8.5% interest being transferred to Conrad/WNEL.

Tag-Along/Drag-Along Rights: Empyrean has "tag-along" and "drag-along" rights under the JOA, which allow it to participate on a pro-rata basis in any proposed sale or farm-down of interest by the operator. Empyrean argues that Conrad's actions with the withdrawal notice may "frustrate" these provisions, especially given Conrad's current negotiations to farm down its own interest.

· Empyrean, which holds an 8.5% interest in the Duyung PSC, and through certain drag along/ tag along clauses that exist in the Duyung Joint Operating Agreement will participate pro rata in the farm-down process. Empyrean has communicated to Conrad and the global investment bank that it will also entertain bids for its entire 8.5% interest

Https://www.investegate.co.uk/announcement/rns/empyrean-energy--eme/duyung-psc-update/9240677

You will see father christmas before you hear from him!!!

At least the pr group are keeping us all updated regularly so nothing to worry about!!!!!

Conrad Asia Energy's Mako gas field project has secured a new Gas Sales Agreement (GSA) to sell all of its gas to Indonesia's state-owned electric utility company, PLN EPI. This supersedes previous agreements to sell gas to both domestic (PGN) and export (Sembcorp) markets

Just be comfortable with what you can lose!!it is aim after all!!!

RE: Conrad13 Nov 2025 19:16

Conrad Asia Energy and Empyrean Energy are partners in the Mako gas field, and the total project value related to recent gas sales agreements for the field is estimated to be around US$3.293 billion in gross revenues over the contract term. There is no single "deal" value between Conrad and Empyrean themselves, but rather joint commercial agreements with third parties

Empyrean's Share: Empyrean's 8.5% stake in the Mako field means its share of the total project value could be substantial, with some market estimates placing its potential take from the deal at around £30 million (approximately $38 million USD)

RE: RE: Farm out is a done deal.12 Nov 2025 16:09

· Empyrean, which holds an 8.5% interest in the Duyung PSC, and through certain drag along/ tag along clauses that exist in the Duyung Joint Operating Agreement will participate pro rata in the farm-down process. Empyrean has communicated to Conrad and the global investment bank that it will also entertain bids for its entire 8.5% interest

"It is better to be a lion for a day than to be a sheep all your life".

Stick to savings accounts then!!!

Wrong board!!!!

Conrad Asia Energy and Empyrean Energy are partners in the Mako gas field, and the total project value related to recent gas sales agreements for the field is estimated to be around US$3.293 billion in gross revenues over the contract term. There is no single "deal" value between Conrad and Empyrean themselves, but rather joint commercial agreements with third parties

Empyrean's Share: Empyrean's 8.5% stake in the Mako field means its share of the total project value could be substantial, with some market estimates placing its potential take from the deal at around £30 million (approximately $38 million USD)

Dont think i"ll be sleeping tonight!!!