Conrad Advances Mako Development with Initial US$5 million Farm-Out Proceeds.
Conrad Asia Energy Ltd. (ASX: CRD) has met all requirements tied to the transfer of its participating interest in the Duyung Production Sharing Contract, resulting in the receipt of an immediate US$5.0 million from PT Nations Natuna Barat. This payment forms part of a broader US$16 million agreement, with further instalments due shortly and the balance payable once gas production begins, currently expected in late 2027. The development represents tangible progress toward sanctioning the Mako Gas Field project, where procurement programs are already progressing under an existing funding arrangement.
Following completion of the transaction, Conrad will retain a 22.875% operated stake in the Duyung PSC. The Mako field holds 376 billion cubic feet of 2C contingent gas resources on a gross basis, of which 58 Bcf will be attributable to Conrad after the transfer. The additional liquidity enhances the company’s flexibility to progress its wider Indonesian offshore gas assets and support long-term production growth.
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Conrad Advances Mako Development with Initial US$5 million Farm-Out Proceeds.
Conrad Asia Energy Ltd. (ASX: CRD) has met all requirements tied to the transfer of its participating interest in the Duyung Production Sharing Contract, resulting in the receipt of an immediate US$5.0 million from PT Nations Natuna Barat. This payment forms part of a broader US$16 million agreement, with further instalments due shortly and the balance payable once gas production begins, currently expected in late 2027. The development represents tangible progress toward sanctioning the Mako Gas Field project, where procurement programs are already progressing under an existing funding arrangement.
Following completion of the transaction, Conrad will retain a 22.875% operated stake in the Duyung PSC. The Mako field holds 376 billion cubic feet of 2C contingent gas resources on a gross basis, of which 58 Bcf will be attributable to Conrad after the transfer. The additional liquidity enhances the company’s flexibility to progress its wider Indonesian offshore gas assets and support long-term production growth.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au