Empyrean Energy Share Discussion Threads

[scaleyman] 23/9/2021 13:15

Laz look at todays presentation on website, Medco shown on there.

[lazarus2010] 23/9/2021 12:58

Saf / anybody - re "What is also very interesting is the statement made to the Indonesian media recently by the regulator MIGAS that Medco Energi is seeking a B2B agreement with Conrad as the field extends to Medco´s working interest. This suggests that Mako is even more extensive than previously considered. Conrad has already confirmed that the gas field is one continuous single tank of natural gas."

and the EME presentation slide 13 showing the extent of the Conrad Mako gas field (47kmx16km)...

is there any indication as to how far away is the Medco field to which they are referring?

Getting interesting...

[currypasty] 23/9/2021 11:41

I think it will need a JV RNS

[judijudi] 23/9/2021 11:19

62 million options still due to be taken up from 7.5p to 12p

[blueblood] 23/9/2021 10:45

Thanks Saf but did hope EME could at least confirm that by RNS! Anyway not long to wait now what's 3 months after 14 years lol!

[safiande] 23/9/2021 10:42

bb,

Re post 40777.

The statement from the Indo regulator in at least 3 different media outlets is that the upgraded resource POD has been approved, but not yet executed pending clarification / agreement of any B2B between Medco & Conrad. Also a FSA for the use of the main pipeline to Jakarta & Sembcorp Singapore e.g. tarifs is still outstanding. The latter is probably more straightforward but still needs to be agreed to cover the increased amount of gas to be shipped. Therefore I am quite sure that there is no way that Conrad will sign any GSA covering possibly a 20 year period until there two important milestones are agreed. Furthermore you can note the dotted line in EME´s presentation from the Mako field to the main pipeline WNTS, which could indicate that Conrad has made the decision to build a new supplementary pipeline to the WNTS, rather than use the extant Karisi platform, which is only 16km to the south. Previously Coro ( Eliet ) stated that the Karisi platform is unlikely to be robust enough to process the copious amounts of Mako gas.
In his last presentation, Mark Hood Coro CEO mentioned that Conrad is targeting GSA signature by year end. EDIT See post below on Proactive webinar this evening.

[nametrade] 23/9/2021 10:37

Laz, that’s all fair enough but there is nothing concrete laid out for all to see regarding the funding of drilling. When this is clear, then we can move. People sitting on their hands and will decide once this is crystal. IMO

[blueblood] 23/9/2021 10:34

The problem is the wider market needs to know about the potential at Duyung not just hard core of current investors! Funding for China will be the catalyst for big move up into spud and hopefully will be finalised in October

[michmcd] 23/9/2021 10:33

Has anyone actually been able to attend today? Why these things cant be streamed live on a zoom or teams event baffles me.

[lazarus2010] 23/9/2021 10:13

Obviously those sellers don't read this bb! If they stopped to think of the potential future value of Duyung I'm sure they would hold back with their sells. If Conrad's belief of this being one massive gas field are correct, and we join up with our neighbour, surely this would double the gas in place figures, then there are the deeper Muda plays, could double again. At a conservative 3pps for the exiting estimate, this could easily be worth 12pps before it starts production, and then the value will increase even more! 2-3 years to put into production and at relatively minimal cost if Conrad go down the leasing route as mentioned previously by Saf.

Saf - I have to say now that you seem to have stopped the personal jibes at other posters your posts and the information contained therein are most welcome! Keep up the great work!

[cmackay] 23/9/2021 10:03

A presentation

[blueblood] 23/9/2021 09:42

We really need proper Duyung update. It's been all hints and bits from google this last year and Conrad had more than enough time to sort GSA out!

[judijudi] 23/9/2021 09:41

Yep sometime today
All resolutions passed

[michaelhfrancis] 23/9/2021 09:40

News at 10???

[rajawali] 23/9/2021 09:03

GBP 40K worth of sales is no big deal in the context of the prize here. Just as pitifully low volumes can push this lower, the reverse is true. I guess there are still some questions about the funding gap and at what level warrants will be exercised, given their extrinsic value. It would be suicidal to build a short position and trying to unwind it in a no-offer market. 11 weeks to go. One way or another, this will be drilled imho.

[go_baby_go] 23/9/2021 08:58

Not have funds the for another 250k, best I could manage is 183,550. Can not see this going down to 6p with further news on the horizon imo.

[bengal1] 23/9/2021 08:43

Blimey, why all the really big sell orders.. Down to 6p

[lazarus2010] 23/9/2021 08:43

looks like someone just got their gas bill!!

[blocker2] 23/9/2021 08:32

Looks like someone got some cheap stock

[abergele] 23/9/2021 08:30

So who are selling ,
who should never have bought in ,
who can't hold and wait..
or is it warrant sellers?

[blocker2] 23/9/2021 08:21

Cheerful morning

[lazarus2010] 22/9/2021 22:09

Saf
Re "What is also very interesting is the statement made to the Indonesian media recently by the regulator MIGAS that Medco Energi is seeking a B2B agreement with Conrad as the field extends to Medco´s working interest. This suggests that Mako is even more extensive than previously considered. Conrad has already confirmed that the gas field is one continuous single tank of natural gas."

Will Tom be able to make such a statement, or could he refer to Conrad's statement so that the wider market is able to consider the possibility?

Could Gaffneys be requested to consider this in a what if scenario?

We will only benefit from such speculation in the short term if it becomes official speculation and the news is able to be put out there by the likes of Malcy imho

[safiande] 22/9/2021 17:10

bb,

Tom may not let it go for all the black tea in China.....at least not yet?

[blueblood] 22/9/2021 17:00

Thanks Saf Duyung is shaping up to be a fantastic asset for EME! It's just a pity about the stranded gas lol...

[safiande] 22/9/2021 16:45

Tarz,

I hope you are having nice hols in Majorca.

If you look at the map you can see the potential extent of the Mako reservoir by considering the distance to the Medco wi shown by an illuminated blue dot. The Mako field is c.100km to the main WNTS pipeline as Conrad is considering a direct tie in to the pipeline rather than using the Karisi platform 16km away. This provides some idea of scale.