Empyrean Energy Share Discussion Threads

[mynameiskhan] 18/2/2022 08:15

Generally, when the weather gets better in Chinese water? Or it remains same throughout the year?

[jamesiebabie] 18/2/2022 08:08

blue just for you. [a little ditty] :)

The survey vessels are in blue; you will note none are in open waters and I don't expect to see them out in open water for the foreseeable time.

[currypasty] 18/2/2022 08:01

all looking a bit rough at sea... there are 2 foot waves on my pond this morning

[jamesiebabie] 18/2/2022 08:00

blue - FYI, all surveys vessels are in hiding, there are none in open waters.

[bluehooperman] 18/2/2022 08:00

Great informative post Kev, many thanksI've hope you don't mind, but I've pinned the message to the telegram group, which btw has now for 203 membersCome on Tom, spill the beans!!!

[jamesiebabie] 18/2/2022 07:59

kev - great post, again! Many thanks for sharing your insight.

I agree that COSL will have extensive knowledge of this location with the close proximity of other wells.

I'm watching both the survey vessels and the rig.

[jamesiebabie] 18/2/2022 07:53

blue - I don't think any survey vessel will be out for at least a week from my intel.

bwdik

[bluehooperman] 18/2/2022 07:51

Looking at the charts, the swell heights for the last couple of days & up until Tuesday look favourable to getting the site survey completed, we just need the ship on our patch!!!

[kevjames] 18/2/2022 07:50

Whilst we wait for official news from EME it may be worth stating that the permit requirements will have been agreed with COSL (who are providing the drilling rig) and the state regulator (however that might work in China!). Remember that a key objective of a site survey is to assess geohazards and to enable the risk posed to drilling operations by both the seabed and geological conditions to be managed and reduced, so that a safe drill can be performed and any hazards mitigated.
The seabed at Jade is at a depth of 490m of water. The drilling target is 2400m below the seabed ( 25 days drilling time). Therefore, the presence of hazards must be determined through rigorous and consistent analysis and clearly reported in the text, maps, and other graphics that make up the site survey report. However, COSL/CNOOC have a lot of experience in these waters so will have a hugh amount of data and understanding of what exists in this area. The following will be a minimum requirement:
1. The site survey report should address three phases of the drilling operation:
• bringing the rig onto location and stabilizing it before spudding-in
• spudding the well
• top-hole drilling.
2. Special attention should be paid to the seabed and shallow soil conditions in the immediate vicinity of the proposed well location(s) – this determines how the rig will be anchored and the spud location.
Note that the rig is a semi submersible owned by COSL ( NH-8). This will likely be anchored to the seabed with multiple mooring lines and will also be Dynamically Positioned( DP) during drilling operations using thrusters. These rigs can withstand very rough conditions – so sea swell won’t be an issue once rig is secured.

So, could all the survey data have been gathered already??? Until we get confirmation from EME it would be pure speculation to make any comment, but I will! Given the extensive knowledge already gained from oil/gas operations already taking place in that area, the comprehensive 3D seismic data we have already analysed and the fact that COSL are the operator, it may be that sufficient data to satisfy the hazard analysis was gathered in what appeared a short survey period – time will tell. AIMO.

For those who are interested in the detail of seabed surveys and the complexities, the link below gives a presentation which may help to inform and pass an hour or two on this stormy day.

hxxps://www.iogp.org/wp-content/uploads/2016/12/ESRIPUG.pdf

[begorrah88] 18/2/2022 06:56

Cracking post toon,

Well judged,worded & reasoned.

Thanks

[kir] 18/2/2022 01:55

The survey will happen when the weather is right and then the drilling. We have no choice by to wait for news. Although I would like to raise some funds by selling a couple of 100k share, I will wait for a better price. I have been here since 2006, so a couple of weeks or months is not going going to change much. The oil if it is there, will not be going anywhere

[diarybeach] 17/2/2022 21:16

No. I’d need to research the projects and balance sheet more. I’ve also got boring in my old age investing in income producing footsie CO’s. I’m currently cashed out waiting for a crash I think is due in the US and would ripple over here. There’s also nutter Putin to worry about although a war may obviously benefit oil.

As mentioned above, the fraud is small beer all things considered albeit very annoying but don’t sweat that.

Good luck guys. If this comes good you could do very well.

[blakieboy7] 17/2/2022 20:46

Diary, have you taken a position with Eme?

[diarybeach] 17/2/2022 20:30

Ok but I’d expect very limited circumstances.

[stewart4990] 17/2/2022 19:22

Diarybeach,Regarding insurance cover, we have a Cyber policy and it most certainly covers fraud.

[diarybeach] 17/2/2022 18:57

Solar

Fraud is not normally covered by insurance policies. You’re correct though in saying we don’t know policy terms.

Pacman

Good post and agree.

[solarfire73] 17/2/2022 18:36

According to the first RNS, EME's insurers were notified. Cyber crime is most definitely insurable, but of course we don't know the details of what is covered under the policy. The freezing of assets will have been completed by now, but has the $2 million dollars been identified within that asset freeze; that's the question?

The updated RNS detailed that EME were certain of the perpetrators and that proceedings had commenced. Therefore we will find out the outcome before long imo.

Meanwhile we will shortly receive an update on the survey and permits. Investment interest in the drilling campaign is growing rapidly and soon the drilling plan will be announced. Some profit taking along the way.

The timing of the Duyung update is still a matter of uncertainty and is a frustration for all. But it will happen and I am expecting only positives regarding that project update.

[pacman9] 17/2/2022 18:22

If we get it back great, if not, no buggy. It's peanuts in the grand scheme of things.

[ride daice] 17/2/2022 18:18

I know nothing about the backstory but I'm invested primarily because Jade looks like one hell of a Trapeze ride with Duyung acting as the safety net.

So I'll try and be patient here and wait until the circus comes to town...my favourite act being the gas clown.

[sparrow9] 17/2/2022 18:04

Also Me well written

[diarybeach] 17/2/2022 18:02

Lazarus

For your information, I used to be a large holder of EME back in the day and even attended some AGM’s when Frank Brophy was around. I’m not deramping when I question the fraud. It’s just that a honestly believe that in such cases a recovery is unlikely.

[abergele] 17/2/2022 16:23

Well said Toon.

ps.
sells are buys as in the last 2 trades @ 7.15p.....No..77/78

[jamesiebabie] 17/2/2022 16:00

100% toon.

[thetoonarmy2] 17/2/2022 15:51

begorrah.
As one that you would describe as an uber supporter of EME and considering how much money I have invested in EME I will definitely bang the drum for them although many will remember a few years back I used to bust Toms balls regularly and once we convinced him to pay out the special Divi I was able to have reasonably pleasant conversations with him once he was rid of Macquarrie Bank.

So I don't knock you, and I will always stick up for your right to post your views even though I may disagree with them I do think you get a bit of fun out of winding certain people up though and as a shareholder, I'm sure some of your comments are a bit tongue in cheek.

I'm one who was relaxed in Nov/Dec and I'm still quite relaxed mate, this whole drill is in COSL hands a turnkey project Tom has nothing to do with it its COSL who decide when the weather is ok to survey and as far as Duyung goes again we are a small minority shareholder in the project we don't really have any say although I do think the Duyung news will come before the Jade drill, just my own thoughts :):)

[begorrah88] 17/2/2022 15:32

Btw,Got no problem whatsoever with people filtering others,that is what the facility is there for.Just filter someone if you want - no need for a grandstand announcement (specially if you then don't filter people) or telling others to filter posters. That is just sad.