Latest Conrad Asia Energy (Asx:Crd) News

Conrad Asia Energy has secured transformative funding and a farm-down deal for its Mako gas field, setting the stage for first gas production by late 2027 amid soaring Indonesian gas demand.

Conrad Asia Energy Ltd has had its trading suspension lifted following the completion of a significant farm down of 75% of its Duyung Production Sharing Contract. This move marks a pivotal moment for the company’s asset portfolio and market presence.

Conrad Asia Energy has partnered with PT Nations Natuna Barat to farm down a majority stake in the Mako gas field, securing full funding for its development and reducing capital risk. The deal positions Conrad to focus on other exploration assets while retaining operational control.

Conrad Asia Energy has signed a significant gas sales agreement with Indonesia’s PLN subsidiary, underpinning the development of its Mako Gas Field and advancing exploration in Aceh. The company is progressing farm-down talks and preparing for a major seismic survey to unlock further gas resources.

Conrad Asia Energy is set to commence a major 3D seismic survey in its Offshore North West Aceh PSC, aiming to refine and expand its substantial gas resource base ahead of planned drilling and commercialisation efforts.

Conrad Asia Energy is set to commence a substantial 3D seismic survey in late 2025 over its Offshore North West Aceh gas assets, aiming to refine resource estimates and pave the way for future development including mini-LNG and power generation projects.

Conrad Asia Energy has advanced its position in Indonesia’s natural gas sector with a major gas sales agreement and increased ownership in the Duyung PSC. The company also completed a A$9 million capital raise to fund upcoming development milestones.

Conrad Asia Energy has inked a binding gas sales agreement with Indonesia’s PLN EPI for the entire output of its Mako Gas Field, marking a pivotal step towards production and domestic market integration.

Conrad Asia Energy has successfully raised approximately A$9 million through a two-tranche placement, with strong insider participation, to fund key milestones in its flagship Mako gas development and other projects.

Conrad Asia Energy has secured a pivotal Gas Sales Agreement with Indonesia’s state utility PLN, linking Mako gas prices to the Indonesian Crude Price and advancing its farmout strategy while increasing its stake in the Duyung PSC to 91.5%.

Conrad Asia Energy reports solid progress in Q4 2024 with finalized gas sales agreements and promising LNG studies, despite delayed final investment decisions due to regulatory approvals.