Announcement • May 14
Conrad Asia Energy Ltd., Annual General Meeting, Jun 16, 2026 Conrad Asia Energy Ltd., Annual General Meeting, Jun 16, 2026, at 09:30 Singapore Standard Time. Location: raffles city convention centre, 80 bras basah road, singapore 189560, with live voting, Singapore Announcement • Apr 28
Conrad Asia Energy Ltd. (ASX:CRD) completed the acquisition of 15% stake in West Natuna Exploration Ltd from Coro Energy Duyung (Singapore) Pte Ltd. Conrad Asia Energy Ltd. (ASX:CRD) agreed to acquire 15% stake in West Natuna Exploration Ltd from Coro Energy Duyung (Singapore) Pte Ltd. for $1.28 million on April 10, 2025. A cash consideration of $0.3 million will be paid by Conrad Asia Energy Ltd. The consideration consists of 0.5 million common equity of Conrad Asia Energy Ltd. to be issued for assets of West Natuna Exploration Ltd. Conrad Asia Energy Ltd. will pay $0.75 million to the extent that Conrad or WNEL's interest in the Duyung PSC falls below 20% at that time, then such payment may be reduced dependent on the extent of that reduction on interest. As part of consideration, $1.05 million is paid towards assets of West Natuna Exploration Ltd.
The transaction is subject to approval of offer by acquirer shareholders, target shareholders and approval of offer by acquirer board. The deal has been unanimously approved by the board. The sale is also conditional on approval from Indonesia's Ministry of Energy and Mineral Resources having been obtained on or before August 31, 2025. As of May 14, 2025, the transaction has been approved by the shareholders of Coro. Transaction completion is expected prior to a long-stop date during Q3 2026.
Adrian Hadden and Ben Jeynes of Cavendish Capital Markets Limited acted as financial advisor for Coro Energy Duyung Pte Ltd.
Conrad Asia Energy Ltd. (ASX:CRD) completed the acquisition of 15% stake in West Natuna Exploration Ltd from Coro Energy Duyung (Singapore) Pte Ltd. on April 27, 2026. Following the approval of the sale by Indonesia's Ministry of Energy and Mineral Resources the Transaction has now completed and 500,000 shares in Conrad Asia Energy Ltd have been issued to the Company. Breakeven Date Change • Apr 27
Forecast to breakeven in 2028 The 3 analysts covering Conrad Asia Energy expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$25.4m in 2028. Average annual earnings growth of 55% is required to achieve expected profit on schedule. 
