Why do you care about the claim? |
But a claim has been made. |
It's about time they told us what they are claiming for as it makes no sense looking at original Jade commitment! |
Is there no weight to his claim, chinese lawyers are demanding £12m. |
Peter - if you could just pop your rose tinted glasses on again, long enough to comment on the unexpected diamond field discovery in Sacramento - that would be welcome. |
show,
I was commenting on you’re stupid post telling me to sell up!
show,
What do you think will happen then with the share price pre drill?
Can’t wait to hear |
Why would I sell. IMO, mega value. |
“Why don’t you sell up then” 😂😂
show,
What do you think will happen then?
Can’t wait to hear |
No idea. It would be disappointing if he is buying while trashing the company |
You don't truly believe he has held onto stock for 20 years, do you? |
Why don’t you sell up then? |
I think I know what will happen
Conrad won’t progress much and EME’s share price will get smashed on any rise
imho |
Unfortunately hoping and praying isn't really a sound investment strategy |
JJ, can’t you even try to see what happens over the next 2 months? |
On the flip side; and just a second while I put my rose tints on...
Wilson comes good
Gas clouds Gaz manages to persuade CNOOC to drop the claim and we get a shot at drilling Topaz whilst at the same time Duyung matures and far exceeds all our expectations so we have the cash to do it..... |
Back to the placing price
As expected folk want out at any opportunity |
It's a buy and a potential multi bagger. Do not miss the boat. |
1.5 billion shares traded over the last 2 sessions for a reason, the issued capital being 2.5 billion.
£2.5m market cap is puny, the average market cap in 2024 was £8.5m.
Is this a fill your boots opportunity YES ! |
Price targets are 0.35p next 2 weeks followed by 0.5p pre drill.. successful drill 1.5p. |
 I take it any new bulls or stale bulls will have properly read and understood the interim results from EME (18/12/24), a few snippets copied here:
On August 2024 Empyrean has received a letter of demand from CNOOC alleging that Empyrean has outstanding obligations under the PSC. The Company disputes the letter and is endeavouring to settle the matter amicably under the dispute resolution clauses provided for in the PSC.
On 24 August 2024, the Company received a letter of demand from CNOOC's lawyers, King Wood & Mallesons, in relation to Block 29/11. The letter of demand alleges, inter alia, that Empyrean has outstanding obligations under the relevant Petroleum Contract entered into with CNOOC and that Empyrean has failed to pay certain amounts that CNOOC consider due and payable under the Petroleum Contract relating to the prospecting fee and exploration work. The Company rejects the outstanding amounts claimed, which total $12m, and has responded to the letter of demand requesting clarification of the basis for the demands made in the letter. At this time, it is too early for the Company to form any opinion on the merits of any demands made therein and the Company intends to continue dialogue with CNOOC and, in line with the provisions of the Petroleum Contract, to settle amicably through consultation any dispute arising in connection with the performance or interpretation of any provision of the Petroleum Contract. However, it is acknowledged that, in the event that the amounts claimed are called, further funding would be required, over and above that required to meet the day to day cash demand of the business for the foreseeable future.
However, in order to meet the repayment terms of the Convertible Note (which was renegotiated in 2023), any further commitments at the Mako Gas Field, any potential further costs of cooperation on Block 29/11, any potential amounts payable to CNOOC that may crystalise and working capital requirements the Company is required to raise further funding either through equity or the sale of assets and as at the date of this report the necessary funds are not in place.
The Company therefore requires additional funding to fund the ongoing cash needs of the business for the foreseeable future and may require further funding should it be required to settle amounts claimed by CNOOC. The Directors acknowledge that this funding is not guaranteed. These conditions indicate that there is a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern and, therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business.
Given the above and the Company's proven track record of raising equity funds and advanced Mako sell-down process, which the Directors believe would be sufficient to meet all possible funding needs as set out above, the Directors have therefore concluded that it is appropriate to prepare the Company's financial statements on a going concern basis and they have therefore prepared the financial statements on a going concern basis.
My Summary:
Anyone buying into EME must realise that Wilson is like a last chance saloon. They need a success or for the sale process to come to a conclusion, OR....there will be another very significant fund raising. The last fund raising was a doubling of shares.
Buyer beware. |
I take it any new bulls or stale bulls will have properly read and understood the interim results from EME (18/12/24), a few snippets copied here:
On August 2024 Empyrean has received a letter of demand from CNOOC alleging that Empyrean has outstanding obligations under the PSC. The Company disputes the letter and is endeavouring to settle the matter amicably under the dispute resolution clauses provided for in the PSC.
On 24 August 2024, the Company received a letter of demand from CNOOC's lawyers, King Wood & Mallesons, in relation to Block 29/11. The letter of demand alleges, inter alia, that Empyrean has outstanding obligations under the relevant Petroleum Contract entered into with CNOOC and that Empyrean has failed to pay certain amounts that CNOOC consider due and payable under the Petroleum Contract relating to the prospecting fee and exploration work. The Company rejects the outstanding amounts claimed, which total $12m, and has responded to the letter of demand requesting clarification of the basis for the demands made in the letter. At this time, it is too early for the Company to form any opinion on the merits of any demands made therein and the Company intends to continue dialogue with CNOOC and, in line with the provisions of the Petroleum Contract, to settle amicably through consultation any dispute arising in connection with the performance or interpretation of any provision of the Petroleum Contract. However, it is acknowledged that, in the event that the amounts claimed are called, further funding would be required, over and above that required to meet the day to day cash demand of the business for the foreseeable future.
However, in order to meet the repayment terms of the Convertible Note (which was renegotiated in 2023), any further commitments at the Mako Gas Field, any potential further costs of cooperation on Block 29/11, any potential amounts payable to CNOOC that may crystalise and working capital requirements the Company is required to raise further funding either through equity or the sale of assets and as at the date of this report the necessary funds are not in place.
The Company therefore requires additional funding to fund the ongoing cash needs of the business for the foreseeable future and may require further funding should it be required to settle amounts claimed by CNOOC. The Directors acknowledge that this funding is not guaranteed. These conditions indicate that there is a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern and, therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business.
Given the above and the Company's proven track record of raising equity funds and advanced Mako sell-down process, which the Directors believe would be sufficient to meet all possible funding needs as set out above, the Directors have therefore concluded that it is appropriate to prepare the Company's financial statements on a going concern basis and they have therefore prepared the financial statements on a going concern basis.
My Summary:
Anyone buying into EME must realise that Wilson is like a last chance saloon. They need a success or for the sale process to come to a conclusion, OR....there will be another very significant fund raising. The last fund raising was a doubling of shares.
Buyer beware. |
People have been saying that for five years.
That's why so much money has been lost.
Be careful. |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
