Empyrean Energy Share Discussion Threads

[judijudi] 20/1/2022 10:14

curry
It was a “I’m backed into a corner” type of deal

[currypasty] 20/1/2022 09:37

50m shares to be converted at 8p

[jemjem] 20/1/2022 09:31

Possibly curry. But likely convertible at a higher price than any share issuance could be done at. Also much quicker, imo.

[currypasty] 20/1/2022 09:22

Isn't a convertible loan dilution ?

[bengal1] 20/1/2022 09:15

Well said.

[jemjem] 20/1/2022 09:12

I agree Laz.
Duyung potential seems to be getting bigger and better all the time. It'll be worth more to us once a GSA is signed and more again after FID and arrangements with Medco are sorted. The delay in spudding Jade, whilst we wait for the sea bed survey, could well be fortuitous as I would expect Duyung GSA to now hit before TD on Jade. Therefore Duyung GSA can (and probably will) be used as further collateral to raise funds for the testing of Jade (better, probably, than further dilution).
Best just sitting tight on everything for the moment.
Imo

[bengal1] 20/1/2022 08:59

Yes they would. Spud soon for Jade. Culmination of 4 yrs work.

[begorrah88] 20/1/2022 08:53

He is also oblivious to the fact that TK couldn't sell it anyway.Who would buy a slice of an asset they have no input to, control over or any releasable information on?If you could find a buyer, prepared to pay for a potential asset they are kept completely in the dark on for years, they wouldn't pay anywhere near what TK might think it would be worth.

[judijudi] 20/1/2022 08:17

😂😂

[buzzzzzzzz] 20/1/2022 08:07

There isn't........................yet and won't be until they drill deeper.

Do you think before you post.

[lowsulpher1] 19/1/2022 20:50

Hi All if there is one trillion of GAS IN DYUNG just sell it and put it towards the drilling campaign in China.

[go_baby_go] 19/1/2022 18:23

You could be right wcj. If it starts moving away in a couple of day. Then whatever they may of been doing, they may of been completed it.

[wcj] 19/1/2022 18:08

I am pretty sure that the survey is under way at the moment. The ship in question is located in the drill area, and has moved twice in the last 36 hours, all within a space of a mile.

currently at 20.4033, 115.4032

[go_baby_go] 19/1/2022 17:17

I think there has been a couple of window opportunities already. Not sure whether we will only be notified once it has been completed. My 250k just showed up.
Update on buy/sales. Positive for the day of 339,144 shares. Another late buy trade after hours.

[georgesorrow] 19/1/2022 17:09

Could be a window for the survey, though it's a bit tight

Calms down second half Sunday then two good days and starts to deteriorate later on Wednesday. Watch for the survey vessel chugging out on Sunday perhaps?

hxxps://www.windy.com/20.957/114.800/waves?swell1,20.460,114.799,8,m:ef4ajmv

[go_baby_go] 19/1/2022 17:02

Well I make that +5,928 more shares bought than sold today. That's including my 250k purchase yet to show up. We were down -3.3%

[go_baby_go] 19/1/2022 16:18

Just added 250k@5.9999. likely to show up after close also added 1m of CORO. Think we should hear about the completed survey soon.

[hang ten] 19/1/2022 15:49

Hi Saf ... if we 'have" to sell it, we sell it ! If we don't have to sell it and get an annual divi id be more than happy to hold it. What ever keeps EMR moving forward positively im on side... One can never be fixed on one mindset in business as its an ever changing world :) . All up in the air until TK states his intention ... outside of that is pure speculation ... Im sure we will all be rewarded handsomely with the right decisions made. GLA

[safiande] 19/1/2022 14:43

Stew,

Focussing only on Duyung, a few of us including yourself identified the potential high value of the field about 2 or so years ago around the time of the famous " hiding in plain sight " statement from Coro Energy.
Precious little decent info from EME, which is perhaps the reason why most here were flog it off & forget it merchants led by Hang Ten & Curry in particular.
Mark Hood gave the distinct impression in the Q & A video that Mako could easily be a 1TCF field as " there are other reservoirs there." If so, this is a huge amount , even at 8.5% wi for EME. Singapore in particular pays top dollar and it seems as though Conrad has already signed at least 2 HOAs with two different customers there. These will be long term sales agreements as the life of the field is up to 2050 or so. Coro has already previously confirmed that the GSAs will be based on a pricing formula, using Singapore spot prices throughout the duration of the sale.
They also made a separate remarkable statement that :-

" Duyung has the potential to provide a powerful boost to the Indonesian economy and provide energy security in Singapore ".

This is one hellava assertion to make which they must be able to backup when the full resource figures are revealed.

It is fairly easy to see where such large volumes might come from namely:-

- Current GCA figure 495Bcf 2C, 817Bcf 3C top case. ( May 2020 ),

- Extra shallow step out prospect 100Bcf 75% POS.

- Deeper drill prospects already subject to seismic.

"..........recently reprocessed seismic has revealed large prospects just below the Muda unconformity. These are large NE-SW trending syn-inversion structures with potentially Lower Gabus sequences providing good quality reservoirs. "
( Conrad Petroleum ).No figures yet pre drilling.

- Extension of field to Medco´s patch, which is to be subject to a B2B between Conrad / Medco. No figures yet in the public domain.

Mark Hood did not deny ( nor agree to ) any of the above figures in his video.

[stewart4990] 19/1/2022 13:39

Hi Safi,

Thanks for the details in respect of Coro and of course eme, I did see it yesterday on Twitter but didn't post as the Q & A I understood was February and therefore assumed nothing on Duyung until then although with hindsight news could come anytime.

I suppose many think if Duyung is company transformational then why is the current price at 6p mid as I type. I am thinking that because this has gone on so long and of course it could get even bigger that many simply are fed up of waiting and it will only transform into the share price once Conrad deem to announce it, which is bloody annoying as eme and Coro in particular put up funds for the drill. Well I have bought many more eme and Coro before today because once its announced you wont get anywhere near todays price.

Regarding China, well we are so close now, we must be and if we hit oil the sky's the limit, Tom has 88M shares and has Gaz 70M with the shares in his company and personal holding, therefore they have more reason than anyone to get both projects pushed through.

I am not patient as many know but China surely must be near, been waiting about 4 years for both, and remember China is the real transformational one, why has China not pushed the share price up, no idea, probably because its a risk 41% COS that's a 59% chance of a failure, read the details though, "fill to spill" "gas clouds" and look at the company who are drilling and who owns them, top quality. but hey if you want safety put your cash in the bank, to me this is a once in a lifetime chance and I need it more than most.

DYOR, IMHO.

[begorrah88] 19/1/2022 13:10

...but Saf, you told us to expect the GSA signed Jan 2021 then by summer 2021 then end of year 2021.....I suppose you can't keep on being wrong forever (although you have been here).BTW - that day drinking isn't for everyone as some tend to get a bit gobby, just sayin' ;-)

[safiande] 19/1/2022 11:52

These are the original questions to Coro on Duyung which they replied to today, in edited form. Seems as though Mark Hood was very keen to provide updated resource info today but was constrained from doing so pending formal updates, particularly after his slip last time as reported by jem. Coro will be presenting at " Shares " on Feb 10th, so expect news in between now & then.

"Global Data reported the following revised metrics for Mako namely:-
- 2C mid case of 540.37Bcf ( 90.06 Mmboe )compared to 495Bcf from GCA in May 2020.

- Plateau production of approximately 157 Mmcfd of natural gas.
- Economic life of the field until 2051. Can Coro comment on the veracity of these figures for planning purposes? "

"At the previous seession in May, James Parsons stated that Duyung is a " big boy asset ". Question for James. How big is the big boy at Duyung? Could it be 1TCF+ when the field is finally drained in 2051based on the GCA 3C high figure of 817 Bcf plus the shallow step out prospect to the SE of 100 Bcf ( POS 75% ) plus the deeper drill ready prospects subject to seismic. Also the field might be greater than originally thought and might extend to Medco´s area which is the subject of a B2B with Conrad."

"Do Coro plan to participate at least in the development phase at Mako which is mainly x 5 wells plus a contingency well ? As per the Align research note Capex will be modest in 2022 / 2023 if Conrad choose to lease the processing facilities etc which will result in overall savings of US$120+."