Empyrean Energy Share Discussion Threads

[stewart4990] 05/5/2021 15:02

Looks to me like there is quite a lot of selling perhaps people thinking a raise is imminent, need the cash to drill and plan, I assume a payment will be required for the drill.

Hope they do a raise at 7.5p minimum, be good for the price, shoot it up to at least that level.

[rajawali] 05/5/2021 14:46

Brent Crude $100 call options traded on Monday 4600 times. Commodity complex is on fire.

[begorrah88] 05/5/2021 14:45

I don't think those selling are short term traders, I think more likely to be stale lth's who are fearful of this being yet another false dawn (& who could blame them).I think the absence of any intended dates or funding clarification has caused some nervousness amongst holders.

[bskiny1] 05/5/2021 14:41

Amazed at the number selling for a few quid profit with so much to come!!!GLA

[bengal1] 05/5/2021 14:40

Buying op at 6p

[go_baby_go] 05/5/2021 14:35

You would of thought you'd be able get an electronic quote on 100k with those sales that have gone through. But No. Someone I think is mopping up the sale imo.

[lazarus2010] 05/5/2021 13:46

Stew, I am sure Tom will arrange the best possible funding that he can under the circumstances (Duyung cash receipt taking so long). I also doubt that he would be progressing the well design and the rig booking without having already discussed funding alternatives and have something almost 'oven-ready' and it's now down to timing, but hey I'd rather see a few £mln raised at 7p than at 3p!!

[stewart4990] 05/5/2021 13:15

Laz,

Hope your correct, we have waited long enough

Judi,

Also concerns over funding have not been addressed, yes I agree is it Duyung, JV or go it alone,

[judijudi] 05/5/2021 13:15

Some long term holders taking a pay day I reckon
Also concerns over funding have not been addressed

[lazarus2010] 05/5/2021 12:58

I get the feeling people selling now will be extremely p'd off in the next few weeks when all the rns's come out linking the AGR well design to the signing of a deal for a rig and the proposed drill dates, and then the GSA is signed for Duyung and the asset is closer to being monetised...

[blocker2] 05/5/2021 12:57

Interesting share price action, top up time perhaps. Didn't think we would get in sub 7p again.....

[stewart4990] 05/5/2021 11:24

The objectives of drilling an appraisal well are: To prove the size/span of the reservoir; To demarcate areas of continuity and diversity in a reservoir (in terms of rocks and fluids in the reservoir). To evaluate the production rate from the reservoir.

[lazarus2010] 05/5/2021 11:24

Inkunzi - yes, 1st well just exploration BUT it will prove the 'oil or no oil' case and potentially the thickness of the formation. This should also then allow a more refined estimate of OiP at P90. This figure can then be x'd by $5/bbl approx to give a rough valuation of the OiP.

The second well would be an appraisal with EWT I expect. They will take core samples and calculate the porosity, permeabilty etc. This will allow revised OiP>Reserves estimate and be x'd by $10/bbl.

Final well is after FDP is completed and well design/fspo connection etc.

My guess is we will drill Jade Well 1 followed by Topaz well 1 followed by Jade well 2 (which could be used to justify Topaz reserves and not need Topaz well 2) and then sell the lot for $billions. Time horizon for first 2 wells is 2 years.

Expect some bumps along the way...

aimho dyor gle

[blakieboy7] 05/5/2021 11:17

Abandonment of the exploration and appraisal wells is a requirement even in the success case. The plan is to drill and test the Jade prospect.

[inkunzi] 05/5/2021 11:14

To clarify please, the 1st well will be an exploration or appraisal well which will be P&A regardless of outcome.

[64jacko] 05/5/2021 10:47

No ,think I should get up alittle earlier though if I'm going to make any money?

[blakieboy7] 05/5/2021 10:47

There's nothing like a good rise first thing in the morning

[soggy] 05/5/2021 10:40

You're not an early riser, then..64

[blakieboy7] 05/5/2021 09:41

Well if that's the case you've a funny way of showing it

[bengal1] 05/5/2021 09:37

I want the price to go up.

[starzerus] 05/5/2021 09:26

well said Stewart it does seem that way.

[go_baby_go] 05/5/2021 09:26

Usually it take an hour to show 200k. 3 hours for 500k.

[stewart4990] 05/5/2021 09:21

Bengal,I thought you sold out, if you want back in just buy at these prices still way undervalued. Stop trying to talk the price down.

[blakieboy7] 05/5/2021 09:21

Ah it's just appeared