Empyrean Energy Share Discussion Threads

[blakieboy7] 16/12/2021 21:10

J284 are you suggesting that begorrah should FRO?!? :)

[blakieboy7] 16/12/2021 21:09

According to begorrah it's EMEs fault the money was misplaced!!

[j284] 16/12/2021 21:02

Why on earth are you still posting. Sorry to say it but you're getting a bit sad and tragic now. I know you think you're a bit funny but being continually negative and trying to rain continually on everyone's parade just smacks of a fella who's not got a lot in his life. Why don't you just cheer us all deluded LTHs up and give us a break from your enlightened superior font of all knowledge repetitive boring posts

[the donald] 16/12/2021 19:59

'Hello Mr Kelly, this is the manager of the Bank of Ghana. I believe you are due to transfer money to COSL. Well, I am their new bank manager now. Please take down this account number and sort code and transfer the funds here.'

[begorrah88] 16/12/2021 19:58

Laz,One thing that we agree on is that the delay to financing was probably due to the 'the cheque is in the post' malarkey.Can't see many parties wanting to get into bed with a company that misplaces that sort of money.I wouldn't be surprised if it didn't contribute to the requirement for a first charge including Duyung.Out of interest if Jade is a duster does that mean that a realisation of the Duyung asset can be forced?

[noobiedoobie] 16/12/2021 19:44

There is limited window for drilling in China sea due to weather/sea condition. This time is optimal otherwise have to wait another year. Hence the urgency.

Good price but didn't need to buy today (or in latest 2 weeks) and probably won't need to before drill result.

Mr Tom still keeping cool under pressure and tackling the issues for us head on. A true Captain!

[bengal1] 16/12/2021 19:35

Too much heat on TK. The guy is a genius. Give him the time to pull it off.

[lazarus2010] 16/12/2021 19:34

Bengal, it doesn't afaiaa but that is the expectation from their November RNS

[bengal1] 16/12/2021 19:33

Laz, please explain why the drill (spud) has to happen this year.

[lazarus2010] 16/12/2021 19:27

Buzzz maybe edit your original post?

[lazarus2010] 16/12/2021 19:25

Bengal, read Toon's post, the fraud is not particularly worrying per se, the money should be returned by the bank responsible for allowing a fraudulent account to be set up in the first place, COSL should be concerned that they presumably had their accounts hacked so somebody could create a dummy account, the perpetrators should be worried as they have just committed cyber fraud against a Chines national company...we shouldn't be worried at all except for the fact that our CEO who I believe has a background in finance could fall victim to a scam in the first place, that our bank did not put into place a call to the recipient bank to ensure all account details were correct!

[buzzzzzzzz] 16/12/2021 19:23

Laz

My bad did not notice Convertibles secured against Duyung!

Still think there will be a sizeable overhang at various levels.

[lazarus2010] 16/12/2021 19:17

Buzzz, personally I doubt very much that the CLN holders will be trying to exit at 8p for a measly 25% gain, especially as the loan is secured against Duyung, which many of us reckon is worth a lot more than 8p!

Regarding the drill date, maybe I'm the only one on here, but my preference is for the well to be drilled after Duyung GSA and valuation is out. That way we have the share price supported by a known saleable asset which should protect us to the downside. That said, Tom is the CEO and is clearly looking to get it drilled as soon as all the stars align...sea swell below 1.2m to allow the seabed survey to be completed, rig available from current well, markets in a more positive mood...ffs it's just typical of EME that we have an Omicron tsunami, interest rates going up, hydrocarbons being attacked by the Thunbergians, Russia ready to attack Ukraine and China Taiwan.
Add into the mix the payment scam which appears to be what delayed the fundraising and RNS, we must be the unluckiest stock in the market, so is it time for our luck to change?! I bloody well hope so!!

[bengal1] 16/12/2021 19:00

The fraud is particularly worrying and is a significant sum. The RNS states "coming weeks" for drill related activity. The pressures asserted on the company to drill this year have been unreasonable and I have never understood this urgency or imperative. Take your time and just get things right for the drill.

[buzzzzzzzz] 16/12/2021 17:58

Otherwise it's just flippers for 5%.

TK can say he has been told that the placees are in it for the drill but he does not know and I would find it strange if placees wanted to take that risk on all the money raised.

[buzzzzzzzz] 16/12/2021 17:55

JJ

It's called delta hedging and it screwed up the share price at HUR however i do think the conversion price was below the share price when the funding was announced at HUR so maybe you are right.

[jemjem] 16/12/2021 17:47

You've lost me there. Why would a bond holder short the shares at 6.3p when their conversion rights are at 8p. It wouldn't make any sense to lock in a potential loss when you have security over all the assets of the company and the coupon is only 10%.
Imo

[buzzzzzzzz] 16/12/2021 17:39

Delta hedging on the convertible? ie bond holders shorting the shares.

I have seen this happen before specifically with HUR.

[jemjem] 16/12/2021 17:25

That would be the logical conclusion stewart. It can only be flippers content to take 5% profit to get some cash off the table, who are selling - but that won't last long. There was a large sell order being worked this afternoon which culminated in (potentially) the balance of the order (450k) being offered at 6.3p in the closing auction. These got taken and a few more were bid for. Likely to be a slow rise for a few days until PR kicks in but, of course, Duyung news can hit at any time.

Expecting a new Cenkos note tomorrow or Monday. Delighted and relieved Tom got this over the line and happy to sit this out for the drill. Most here have waited 4 years (?) for this day.
Imo

[daler1966] 16/12/2021 16:42

Buy Buy Buy for New Year Bonus

[pd1001] 16/12/2021 16:33

I knew I was a jinx! Sorry to all and have a good xmas and NY

[abergele] 16/12/2021 16:22

Sparrow, take care.
Have nice Xmas all in your family.