Empyrean Energy Share Discussion Threads

[smackeraim] 08/4/2022 07:46

Great news. Roll on next week

[upwego] 08/4/2022 07:45

pass me the nachos! :)

[judijudi] 08/4/2022 07:34

She’s an old lady 33 years of age

[currypasty] 08/4/2022 07:29

anyone got any pics of what our rig looks like?

must be huge, like the target

[judijudi] 08/4/2022 07:26

The monumental days will be on Sunday and approx 26 days after

[pb01] 08/4/2022 07:21

Monumental day for all shareholders. Hold tight and good luck

[the donald] 08/4/2022 07:14

It is really happening!

[birotop] 08/4/2022 07:09

Yep spuds on Sunday..lovely.

[blakieboy7] 08/4/2022 07:07

"Towing operations have unfolded a little quicker than we expected and we are now counting down the hours until we spud one of the highest potential impact and eagerly anticipated wells of 2022. We look forward to providing updates as the drilling starts and further progress is made. It is no mean feat that Empyrean, guided by Executive Technical Director -Gaz Bisht, was awarded the Block 29/11 permit, successfully carried out 608km2 of 3D seismic, conducted oil migration studies, gas cloud studies, and seismic inversion studies and is now about to drill a 395 million barrel potential in place conventional light oil target at Jade."

[judijudi] 08/4/2022 07:04

Tom and Gaz
At last
Well done
👏👏

[pro_s2009] 08/4/2022 07:04

Rig on location. Spud expected 10th April




.

[blakieboy7] 08/4/2022 07:03

Spudding Sunday

[blakieboy7] 08/4/2022 07:02

Nice one Tom!!!

[blakieboy7] 08/4/2022 07:02

TIDMEMERNS Number : 7746HEmpyrean Energy PLC08 April 2022This announcement contains inside informationEmpyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & GasEmpyrean Energy plcBlock 29/11, China - NH9 rig on Jade location8 April 2022Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in China, Indonesia and the United States, is pleased to provide the following update on preparations to drill the Jade prospect at its 100% owned Block 29/11 permit, offshore China:HIGHLIGHTS -- COSL owned NH9 rig has arrived safely on location at the Jade Prospect -- Operations to anchor the rig on location have commenced -- Spudding of LH 17-2-1 well over Jade Prospect is now anticipated to commence on or around 10 AprilEmpyrean is the operator of Block 29/11 in China and has 100% working interest during the exploration phase. In the event of a commercial discovery, its partner, China National Offshore Oil Company ("CNOOC"), may assume a 51% participating interest in the development and production phase.China Offshore Services Limited ("COSL") towed the NH9 rig to the Jade well location and is currently in the process of anchoring the rig in place.Once safely and securely anchored in place, preparations to rig up in preparation to spud the well will immediately follow. At this stage, it is anticipated that the well will spud on or around 10 April.A further update will be provided once the well spuds.The information contained in this announcement has been reviewed by Empyrean's Executive Technical director, Gaz Bisht, who has over 31 years' experience as a hydrocarbon geologist and geoscientist.Empyrean CEO, Tom Kelly, stated:"Towing operations have unfolded a little quicker than we expected and we are now counting down the hours until we spud one of the highest potential impact and eagerly anticipated wells of 2022. We look forward to providing updates as the drilling starts and further progress is made. It is no mean feat that Empyrean, guided by Executive Technical Director -Gaz Bisht, was awarded the Block 29/11 permit, successfully carried out 608km2 of 3D seismic, conducted oil migration studies, gas cloud studies, and seismic inversion studies and is now about to drill a 395 million barrel potential in place conventional light oil target at Jade."Background Information on Jade and Topaz prospectsThe Jade ProspectThe 2021 drilling campaign is targeting a world class conventional oil target in the Jade Prospect, to which Gaffney Cline & Associates ("GCA") assigned a Geological Chance of Success ("GCoS") of 32%. Subsequent to this independent assessment, the Company completed a gas cloud study and post stack seismic inversion study that it believes further mitigates risk and increases the GCoS to 41%.The Jade Prospect has a GCA audited mean in place potential of 225 MMbbl and a P10 in place upside of 395 MMbbl. Four recent nearby discoveries by CNOOC immediately to the West of the Jade Prospect are filled to their P10 potential or better. All four CNOOC discoveries have gas clouds showing in the overburden on seismic.The Topaz ProspectFollowing any potential success at the Jade Prospect, Empyrean would like to drill the much larger Topaz Prospect, to which Gaffney Cline & Associates ("GCA") assigned a Geological Chance of Success ("GCoS") of 30%. Subsequent to this independent assessment, the Company completed a gas cloud study and post stack seismic inversion study that it believes further mitigates risk and increases the GCoS to 35%. Further, any discovery at the upcoming Jade well significantly increases the geological chance of success at TopazThe Topaz Prospect has GCA audited mean in place potential of 434 MMbbl and a P10 in place upside of 891 MMbbl.Four recent nearby discoveries by CNOOC immediately to the West of the Jade Prospect are filled to their P10 potential or better. All four CNOOC discoveries have gas clouds showing in the overburden on seismic.Empyrean's excellent quality 3D seismic indicates that there is a classic "fill to spill" geological setup in the basin, and a robust regional seal, that provides the Jade and Topaz Prospects with a very real possibility of being filled in a similar fashion to nearby discoveries. The Jade and Topaz prospects both have gas clouds, similar to nearby discoveries, in the overburden on 3D seismic. Dry wells nearby do not have gas clouds. The Jade Prospect is the first of the three identified prospects within Block 29/11, which also contains the Topaz and Pearl prospects. The combined audited mean in place potential of all three prospects is 884 MMbbl and a P10 in place upside of 1,588 MMbbl. The post stack seismic inversion study showed Jade and Topaz both have the potential for excellent carbonate buildup reservoir quality with excellent porosity and permeability. Any oil discovered is expected to be light oil in the 38-41 API range, similar to nearby discoveries. These attributes combined with the potential for exceptional natural reservoir drive supports the potential for excellent recovery rates.

[noobiedoobie] 08/4/2022 05:51

Mr Tom prefers to catch everyone on the hop with unnaturally timed RNSs. He has his own time zone I think

[blakieboy7] 08/4/2022 04:14

Just for a change, we need a 7am RNS!!

[starzerus] 08/4/2022 03:57

Thank you Crosseyed.

[the donald] 07/4/2022 23:30

Where's that Chris Morrison with all his tales of doom and gloom? One of the biggest and most exciting drills this year....Chris, Chris ??

[dafrog] 07/4/2022 23:07

Thanks Crosseyed.

[crosseyed] 07/4/2022 22:33

I have made some changes to the header to bring it mostly up-to-date.

You will see a section near the top named Projects: Financials in which I intend to keep the shareholdings current, as well as info on Loan Note outstanding and (after more research) on the state of Warrants. I also include there a link to Financial Reports.

More important, I have updated the estimates in the Projects: China link. I was very impressed by bluehooperman's posts 46767-46770, courtesy of Steve Larrat from the telegraph thread (special thanks to bluehooperman for that). As a result, I have extended the Probabilistic Estimates to include columns showing respectively the Reserves Valuations and also the Take-over Valuations (both in £/share) for P10 and Mean Reserve Quantities for each of the blocks Jade, Topaz (and Pearl soon to follow using similar logic), also showing briefly the Assumptions made. These include links to the relevant posts mentioned above that provide detail on how the estimates were made.

There have been a few other edits but those are the main items. The update is still partly a work-in-progress. Sensible comment is welcome!

Regards,
c