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Conrad Asia Energy (ASX:CRD) is an Indonesian gas developer whose fund manager coverage centres on funding and the path to first production at the Mako Gas Field. In September 2026, SG Hiscock & Company noted that Conrad had completed the 75% farm-down of its Duyung PSC, which triggered a further US$4 million payment, with the shares rising about 7.6% for the month to around $0.65. SG Hiscock added that the transaction means Mako now has full funding in place to reach its production target in the fourth quarter of 2027. Conrad operates in the Energy sector within the Oil, Gas and Consumable Fuels industry, and Thesis Tracker has captured 1 comment from 1 fund manager, SG Hiscock & Company. Incorporated in 2010 and headquartered in Jakarta, Indonesia, Conrad and its subsidiaries explore for and develop oil and gas, with its flagship asset a 76.5% interest in the Mako Gas Field in Indonesia's Natuna Sea.
Company figures as of 20 Oct 2026. For information only.
Fund managers including SG Hiscock & Company have invested in Conrad Asia Energy Ltd (ASX:CRD).
SG Hiscock & Company highlights the completed 75% farm-down of the Duyung PSC as a key milestone, bringing in a further US$4 million payment. According to SG Hiscock, the deal leaves the Mako gas development fully funded, with first production targeted for the fourth quarter of 2027 as the next major catalyst.
The available fund manager commentary does not set out specific risks. With funding now in place, Conrad's main exposure as a pre-production gas developer is development and execution risk in delivering Mako to its Q4 2027 production target.
Conrad Asia Energy Ltd. is an oil and gas exploration and development company headquartered in Jakarta, Indonesia. Incorporated in 2010, the company operates together with its subsidiaries. Its flagship asset is the Mako Gas Field in the Natuna Sea, Indonesia, in which Conrad holds a 76.5% interest.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,568 comments from 165 managers on 764 companies, snapshot 31 Oct 2026.