Empyrean Energy Share Discussion Threads

[maltby2002] 08/12/2017 06:34

All 3 partners making simultaneous announcements all saying exactly the same thing so it is unlikely that TK will be able to put his own interpretation on it.

[maltby2002] 08/12/2017 06:25

Extended flow test to sales whilst permission granted to fracture stimulate to improve permeability, testing stopped whilst this is granted but this could take time. Significant gas discovery and critically still under budget, a lot more positive than 24 hours ago

[terry hardacre] 08/12/2017 06:19

Hang on a minute, one of the more contentious parts of strachan's report was:"Further testing at the X1 zone may deliver enough gas to warrant a production hook-up, while stimulation could be employed at a later date to improve connection with gas in the formation."(My underline of "Further").In my opinion, this report was written with the intention of implying there had been testing throughout the zones and nothing clearly commercial to report, and commercial rates may only be achievable through the more complex route of stimulation - which is a big dose of cold water on our huge reservoir, huge pressure, expectations.If that wasn't his intention, then I don't believe for one minute that a 'professional' who charges what he does for this unwarranted conjecture would have read the draft of his own report and thought that this phrasing was an acceptable representation of information that is supposedly in the public domain.The only other conclusion I can draw is that if this is how he reckons decent, paid-for, reporting looks, then I'm not going to shed too many tears for his whining about 'fair practice', since he's obviously not too concerned with that principle himself.

[desertrat2] 08/12/2017 06:18

well i am no oil and gas expert but the RNS seems to have a restrained tone about it. All is certainly not lost and i liked the bit about the costs coming in under budget so far. I am sure there are people who will have a lot more pertinent comments to make so look forward to reading these today

[bushman1] 08/12/2017 06:04

Could the O & G folk here kindly advise their thoughts ? Many thanks.

[mojad5] 08/12/2017 05:31

asx:Extended Production Test Planned for Dempsey Well
Dempsey Gas Well to be Connected to Sales for Extended Production Test

[doublestexan] 08/12/2017 02:30

Currypasty, 6-December-17 8:40 #13529

That does not look like a flare that is being pushed along up the well bore under several thousand pounds of upward thrust pressure to
me, does it to you? Yes, I have been an operator and drilled wells back in the 90’s, been around it since I was knee high to a grasshopper. Be aware that pic was snapped at a moment in time and
the gas could have been choked off
at that time,purposefully. IMO.

[tidy 2] 08/12/2017 02:26

Looking a bit bleak. Hope you guys took profits.

[brimsley] 08/12/2017 01:24

Good luck getting a permit to Frac anywhere in Calif let alone between 2 rivers in the most productive orchard lands in the state Game over

[buffythebuffoon] 08/12/2017 01:15

Important points:

(1) Strachan has confirmed his views are only based on what has been (publicly?) reported.

(2) All of the comments and drilling information produced by SGC is pointing to the fact we have a successful, highly commercial well.

The most immediate relevant question is whether we can produce commercial flows without fractionating.

Buffy

[cmackay] 08/12/2017 01:06

Could it be that the most recently tested zone is the first, as the last RNs stated that testing the second was still underway?

[seagreen] 08/12/2017 00:30

Standard AIM regulation procedure when volatility in a share price occurs is to ring the Nomad and insist on an explanation of such volatility. The Nomad is then duty bound to request the corporate to explain any volatility in the share price as soon as possible. If the corporate does not have any meaningful explanation they are duty bound to say so. If there is no RNS issued from EME it is reasonable to assume they have no additional material information that they are aware of to explain the current stock girations. When they do have such information they are duty bound to issue it to the market be it good or bad immediately to protect the integrity of the AIM market. If in fact the volatility is being caused by opportunistic traders capitalising on the silence that is not a RNS advent. This leaves EME with only one alternative to issue a "we are not aware of any reason behind the recent decline in the share price etc...". However, they wont issue a statement saying we believe or we think or perhaps the share price movement has been caused by margin traders or T20 traders overtrading which due to the delay has caused forced selling as that is not factual it is theoretical. I have no information be it positive or negative but I can assure you having worked in the environment a senior member of AIM reg will be in daily contact with EME's Nomad asking for a regular update as they strive to protect the reputation of the AIM market for orderly trading and transparancy. It may be no coincindences that about T15 ago the price was trading at around 22p and some will have been caught with their trunks down as the tide turns.

[stewart4800] 08/12/2017 00:10

WestieWill do now

[westmoreland lad] 08/12/2017 00:08

Indeed Jack. Get some sleep Stewart !!

[jacksspitfire] 08/12/2017 00:06

Blue day tomorrow

[stewart4800] 08/12/2017 00:04

I ment to say information we cañ all see in public domain, nothing others have that wee don't. Hence why no need to announce.

[kdickson] 08/12/2017 00:01

Reply from Strachan, courtesp of Orchy on advfn...
Response from Strachan
That is what was in my StockAnalysis report. Clearly, someone has shared it which is of course, not fair trade. My assessments are just that. They are my views from the information that the Dempsey JV reports on drilling and testing, not necessarily what the companies think. The operator will have more knowledge and information, but I am limited to what I see in reporting. Assessment of the current stage of testing are based on my knowledge of the plan and the reports that have been issued through the process. The shot a flare from testing looks promising, but not yet commercial in my opinion, so that is my call from only the second test in a process that could see 4-6 more zones tested over time. Testing has just begun and there are plenty more zones to test. I think that a commercial flow is very much on the cards given the shows that the company reported while drilling. Time will tell. Peter Strachan Strachan Corporate

[stewart4800] 08/12/2017 00:01

An explanation from Strachen and that he can only put out from reports from company, sounds ok to me, thanks ItchyHis report is written from info issued by sgc so that's fine with me

[oilforex] 07/12/2017 23:08

timorg

This is my point exactly. If the (x4?) is indeed in the original Strachan report and has not been annotated later by an assumption of a reader as to what he was alluding too, then it clearly shows the report to be fundamentally unreliable.

No update on ASX before opening either or trading halt. Presumably the company don't see anything material to update. I take this as a good sign.

[terry hardacre] 07/12/2017 23:07

I'd go with Xbox news being better news than anything SGC seem capable of mustering these days.

[niceyman1] 07/12/2017 23:05

Or even- no news is good news?

[niceyman1] 07/12/2017 23:04

Xbox news is good news?