Empyrean Energy Share Discussion Threads

[bskiny1] 23/4/2022 11:29

Thanks, so will 100% of the 7.4 million testing costs also be down to EME...

[haveapunt1] 23/4/2022 11:22

On a success basis, testing of any oil column has been quoted at US$7.4 million.

[jemjem] 23/4/2022 10:57

That said, there might be all sorts of negotiating possibilities. If, for example, Jade is declared commercial and CNOOC back in before Topaz is drilled, the accelerated payback amount for eme is going to be in the $25-30m bracket - maybe more.It's not beyond the realms of possibilities that eme negotiate away some, or all of that amount, in return for "free" expedited drills at Topaz.Anything becomes possible once Jade is "commercial ".Imo

[judijudi] 23/4/2022 10:57

Be even less if we get our $2mill back

[lipov] 23/4/2022 10:52

Jemjem is right, only once in production.

Starzerus, $1m or a bit less would be if warrants at 9p and 12p get fully excercised.
The short term pain is that Eme needs money for testing in advance. But it won’t needed much to churn those placing shares if nice oil net pay is confirmed.

[starzerus] 23/4/2022 10:47

Yes they dont stump up 51% in cash unfortunately.

[jemjem] 23/4/2022 10:43

No, it's not true bskiny.Once in production, eme get an accelerated payback from sales, to cover their costs prior to CNOOC backing in.Imo.

[starzerus] 23/4/2022 10:42

Lipov i think we only need another 1m not 7 to test so no biggie. imho

[bskiny1] 23/4/2022 10:38

Is it not true that if CNOC take there 51% after a successful drill, they would have to pay EME for half all there expenses to date on the project not sure what figure we are talking here...GLA

[lipov] 23/4/2022 10:24

That was potentially very good news for us if Jade/Topaz turn to be commercial. I cannot find any cases in the past where Cnooc would buy from their JV partners the other 49% right after testing is completed in any license in SCS. But now things might be changing.
In relation to funding it looks like Tom will have to go to institutions for $7m for testing as warrants won’t provide as share price below 12p. Otherwise only $1m would be required or less. He will need money soon as LWD shows there is high possibility that testing will be carried out. Could be next week already. For example: Placing for $6-7m at 9-10p is only a short term pain. Fingers crossed and hope for best results!

[noobiedoobie] 23/4/2022 08:33

Sorry if this been said but I don't read all posts as there are so many!! Thought interesting that cnooc is looking to sell assets from US, UK, Canada. It would boost cash reserves to focus on hopefully China assets. A great result for us in SCS would increase likelihood of ramp up of multi well development programme, cnooc don't hang about and have been very open in wanting to increase productivity rapidly. I feel this to be something we should be pursuing as it will generate repetitive newsflow to attract volume in hopefully a predictable fashion

[buzzzzzzzz] 23/4/2022 07:59

Who would be short of this...........idiotic!

GSA underping price.

No significant price rise into drilling due to CLN conversion selling and Warrant holders derisking.

Not much meat on the bone forr the risk involved.

[pro_s2009] 22/4/2022 21:28

Short closing ahead of the weekend....

[currypasty] 22/4/2022 17:15

That was a heck of a run of buying from 3.30 onwards, and a bit of profit taking just before the bell.. who's right Find out Monday??

[nametrade] 22/4/2022 16:26

either way !!!

[smackeraim] 22/4/2022 16:25

Good luck guys. Could be the weekend to remember

[digger2779] 22/4/2022 15:07

bushman - that's only 12.5 million shares and is about £57k which is peanuts in the scheme of things. GSA will happen unless no one needs gas any more!

[georgesorrow] 22/4/2022 15:06

Starz, your faith in Parson's respect for the proprieties of AIM trading and keeping his shareholders fully informed of what he is up to is, dare I say it, mushroom like.

[bushman1] 22/4/2022 15:01

13.21 % to 12.62 %.

[bushman1] 22/4/2022 14:56

Have you the link. ?

[starzerus] 22/4/2022 14:53

george they are probably fed up of being kept in the dark like mushrooms

they know nothing or we also would know.

[tidy 2] 22/4/2022 14:40

Worked for me just now.

[georgesorrow] 22/4/2022 14:37

Jim Parson's cronies at Lombard Odious are selling down CORO; notice today and similar notice on 12/4. Doesn't suggest Duyung lift-off for CORO share price any day soon. Hope I'm wrong.