Empyrean Energy Share Discussion Threads

[butchdogg] 14/2/2018 08:15

300k buy at a premium.

[stewart4900] 14/2/2018 08:09

A reply to Gazza from the other board, I asked if I could post here, not sure it tells us much except they are still on with 3 MAJOR projects, at least he got a reply.



Dear Gary,

Thanks for your email below.

The timing of announcements and project updates is something that, by law, we are only allowed to discuss within the company and a very limited group of insiders including our NOMAD.

As a general rule however, we are required to release anything that could reasonably be expected to have an influence on our share price, without delay. With ongoing work taking place on all three of our major projects, there is likely to be updates as critical or price sensitive data comes to hand.

Thanks for your patience.

Kind regards

Tom Kelly
Managing Director
Empyrean Energy Plc

[brimsley] 14/2/2018 08:04

SGC down 5% no matter I am here for China ooops Alvares ooopps Indo ooops the next placing enjoy

[bushman1] 14/2/2018 01:47

Non-commercial (also spelled noncommercial) refers to an activity or entity that does not, in some sense, involve commerce, at least relative to similar activities that do have a commercial objective or emphasis.





A project is Sub-commercial if the degree of commitment is not such that the accumulation is expected to be developed and placed on production within a reasonable time frame. A reasonable time frame for the initiation of development depends on the specific circumstances but, in general, should be limited to around 5 years.




A project is commercial if the degree of commitment is such that the accumulation is expected to be developed and placed on production within a reasonable time frame. A reasonable time frame for the initiation of development depends on the specific circumstances but, in general, should be limited to around 5 years.

[thetoonarmy2] 14/2/2018 01:40

Interesting post on Hot Copper this evening see below.

...........................

jamieparklondon
295 posts.

Date:14/02/18Time:09:33:27Post #: 31039570New



The approvals process can take up to three months by the look of the extant applications on the Dept of Conservations website. Some go back to September. Most of the active applications are for the South Belridge field in the south of the state where the majors are operating (Exxon?).

The reason you don't see the applications for Dempsey is because the operator has requested a confidential listing, that is the application for well stimulation is not public in order to protect the proprietary info the JV has acquired on what is a frontier exploration well. GJ remains confident that he will get the approval in time to meet his March quarter deadline for fracking this quarter albeit it may be on 31 March!

Gas is still flowing from the lower zone tho how much GJ wouldn't say when rung yesterday.

If anyone is interested in the history of the fracking revolution in the US a book by Gregory Zuckerman called "The Frackers" is well worth a read. Jophda is right well stimulation has been around for years, it was the improvement in technique eg slick water fracks, that changed the industry.

Having covered and written about the oil and gas industry over the last 15 years Sacgasco's Dempsey #1-15 well is one of the best chances I have seen in a long time to push a junior oiler's share price into the stratosphere like a nickel/cobalt play. The market cap is what, just above $22 million. Look at a junior like Comet Ridge struggling with coal seam gas at Mahalo. It has a market cap of over $150 million and hasn't produced any commercial gas.

I am not sure why the market is ignoring Sacgasco's potential but that doesn't bother just means just means a bigger jump when/if the Dempsey stimulation delivers

[safiande] 13/2/2018 22:52

In the last 30 mins REL has again extended its suspension for the third time until Fri. Almost 3 weeks in suspension since original trading halt which is extremely unusual if related to Tulainyo funding. Alvares is on trend to the north.



From Strachan

“ In early 2015, The California Resources Production Company and private partner Cirque Resources LP drilled the Tulainyo well in the Tehama sub-basin, located ontrend and to the south of the Alvares prospect. As always in the US oil & gas game, drilling results are kept confidential even though gas was discovered below about 1,800 metres but could not be tested. Empyrean’s partner in the basin, Bombora Natural Energy (now Pancontinental Petroleum) gained exclusive and confidential access to the technical data from Tulainyo and was so impressed that it has agreed to earn up to a 33.33% interest in the project under extraordinarily generous terms, by fully funding up to three wells on the prospect. This might also explain why Pancon was keen to farm in on a suite of prospects.”

[buffythebuffoon] 13/2/2018 22:19

Safiande,

The well was not dry. Volumes are commercial or not. Non commercial and sub commercial mean the same thing,

Buffy

[safiande] 13/2/2018 22:13

Lower zones so far are sub commercial not non- commercial as per the above post by bushie boyo.
Very important difference.

[cmackay] 13/2/2018 21:57

Nice share bushman1

[cmackay] 13/2/2018 21:56

We should have an rns from REL in the next hour or so to tell us they want to come out to play again. According to yesterday's rns at least.

[bushman1] 13/2/2018 20:45

The below posted with thanks to jophda on Hotcopper :

As I have indicated I have not been involved in oil exploration for over 30 years.

Over that time there have been huge advances in fracking technology.

While the principles of the process .To open up natural fractures and create new fractures by applying pressure to the formation and keep the fractures open after the pressure is removed by pumping proppant into the fractures , so opening up a greatly increased area of the reservoir to flow hydro carbons into the well bore have not changed , the actual practice , the formulations used and the size of fraccs have greatly improved the results of fracking and revolutionised the process .

Horizontal drilling and fracking in very low permeability and low porosity formations has been the main driver of the resurgence in the US oil production in recent years . These formations do not flow hydrocarbons at commercial rates when conventional vertical non fracked wells are used .

The sands tested so far in Dempsey have produced sub commercial flows .Fracking would be expected to increase the flow rate by multiples .

Just how successful the fracc is depends on the nature of the sands , whether they are continuous horizontally or are lenses within impervious formation and if the fraccs extend into regions of higher permeability and of course the size and design of the fracc .

I am sure SGC is being advised by experts .( I am most definitely not !! )

It is a case of fracc it and see.

I have no idea about how long it will take to get the approvals and when the fracc will occur .

Things are moving slowly but as none of the JV partners have deep pockets and they seem to be going about things as economically as they can .They have spent a lot of time , but much of it has not been rig time .This is still not a very expensive well .

We do know they have found a very large amount of high pressure , dry , pipeline quality gas .

It has yet to be proven that it can be stimulated to flow in commercial quantities in this well but the indications are very positive .

It also gives invaluable information for drilling future wells on the structure , which could involve horizontal laterals .They are looking at these things now and will know a lot more after the fracc about how to go about future wells on the structure .

They have higher zones to test and as a final result if all the lower zones do prove to be non commercial in this vertical well , they have the proven commercial shallow gas field to complete in .

They have stated several times that would pay for the well if all else fails .

A big plus for this well is the proximity of production infrastructure .

The gas does not need to be treated before entering the pipeline system through the onsite meter station .

Cash flow will start soon after a commercial flow rate has been established .

It seems to me that this well has very little chance of being plugged and abandoned as a dry hole .

gltah

[kevjames] 13/2/2018 19:29

Toon
All pretty good for me except I still support Stoke City and that I think will be a bad outcome by the end of the season, that said the relegation battle will be the best ever. Sorry for O/T but not really anything to add to the EME discussion.

[cmackay] 13/2/2018 18:06

Yes I am focused on China more than the other projects too. In all honesty, if I sold my holding today I would have more money than I have ever had, so I can tell you I'm holding for this or that but if we get to 50p before China, it would be very tempting to cash in, well at least half anyway. It's a dilemma I can cope with though :)

[showme01] 13/2/2018 17:53

I think so mate so worst case break even with a load of info. Gotta say though, it's China I bought in for. It could make a fair few on here very wealthy if that comes off. I will just be a not so skint pensioner one day!

[cmackay] 13/2/2018 17:48

Showme, I agree with your points. I don't worry too much about Dempsey production outcome, rather than the exploration insight. Iirc Alvares is weighed up at 2.5tcf, and Tulainyo drill results will shed some light on that prospect. Isn't the worst case scenario with Dempsey that it pays for itself from the higher zones? A free fact finding drill. Sounds ok for a weakest link of the portfolio, as some seem to believe it is.

[richiiiee] 13/2/2018 16:00

It will be successful grimsley, even if they can't get the lowest zone gushing more so than it is, the above are gas saturated which may not even require, in top of that Alvares, China and duyong, get back in you're box you cretin!

[brimsley] 13/2/2018 15:46

hxxp://pancon.com.au/wp-content/uploads/2018/02/Pancontinental-Oil-and-Gas-NL-180208.pdf

Values Dempsey at $5m for PCL share so $15m for EME on Full Success Case you been had lads world class BS see you at 8p

[bskiny1] 13/2/2018 15:44

Even If they can increase by 10 fold for example this will surely be a large bonus as these two lower zones were not expected to yield at all.

[blueblood] 13/2/2018 15:40

Unless they can get 20 to 30 times the flow after fracking it does seem wasted time. What they will gain however is much better understanding of these deep zones and they can move up to the original target zones to maximise production at later date.

[showme01] 13/2/2018 15:39

Toon .lol :-))
No trading for me!

[brimsley] 13/2/2018 15:35

No progress till funds raised placing ahoy but we are now really here for Alvares right enjoy

[showme01] 13/2/2018 14:07

Cmackey. I agree. Positive 3d news on the China asset and this will move up and stay due to the COS increasing/ larger possible reserves etc. A drilling partner for China will do the same as people will see progress. The Indonesian asset is just that. Further development or sale but either way there is an asset already there. I agree, Asia is much less speculative as stages will be reached and value added.
California has doubts especially as it was so hyped up by the operator. It should still come good but how good is the question. Dempsey could be average but Alvares spectacular
The great thing here is one cherry is already bagged, with a bite at several more in California and China. EME has never looked so good for the patient imo.
I was tempted to take a few off the table and put elsewhere for a trade( best not mention who, Toon will do his nut as he is already calling me Granny Boy for ramping it too much)but news could land anytime so I am doing as most are here, sitting back and waiting.

[cmackay] 13/2/2018 12:28

Showme, regarding whether price fluctuations matter; I don't know yet. I agree that at the year end we will be north of here; I do not know if the order of news flow would influence how the price retains its level. I'm contemplating whether Asian news would hold a rise more than California? It's longevity more than fluctuations I'm interested in.

[abergele] 13/2/2018 11:08

Showme,
I agree that last line of thought.
Earlier I was just reflecting what may or may not be a slight of hand trade price by the brokers...I am not trading ,only picking up more at what seems to be a stupid price level...