Empyrean Energy Share Discussion Threads

[blakieboy7] 16/2/2022 10:32

Moving towards 8p!

[blakieboy7] 16/2/2022 10:30

Back to where we started the day now at 7.4p

[blakieboy7] 16/2/2022 10:28

Back in the blue!!

[blakieboy7] 16/2/2022 10:27

Thanks Laz, glad you did that as I've filtered Begorrah now

[mike the golfer] 16/2/2022 10:25

Laz It looks like you encouraged the t...s to come out to play!!

[begorrah88] 16/2/2022 10:12

I was just thinking the same until that last post.We could have all just welcomed the debate but some people feel the need to kick things off.Shame

[jemjem] 16/2/2022 09:30

bb.
Yup.It's described as an "accelerated payback". Whether it's 100%, I don't know - I've never actually asked.
Imo

[blueblood] 16/2/2022 09:27

Don't we get 100% of the revenue until we recover our costs first though?

[jemjem] 16/2/2022 09:24

pacman9.
Not correct. CNOOC have 51% back in rights when the well is deemed to be commercial. They pay 51% of costs from that point - but not back costs.
nav1000.
That's the way it's done in China. 51% back in rights whether you're Shell or Empyrean. You do initially get the block for free and have to prove it up to an agreed time scale.
Imo

[pacman9] 16/2/2022 09:16

They have back in rights but will have to pay back 51% of costs accrued appraising the well.

[nav1000] 16/2/2022 09:10

So if they hit oil cnooc will take 51% share? Free of charge

[nav1000] 16/2/2022 09:08

Whats happening about the cyber fraud?

[jamesiebabie] 16/2/2022 09:05

tbh Laz - there's two others out; but others are in port/anchorage. It's 25:75 as there are not many of them.

[lazarus2010] 16/2/2022 08:56

Jem, fingers crossed that is correct!

JB, I would expect the survey vessels to have a list of locations and do a batch of surveys before returning to port, so the wider sweep would tie in with that. Also I take it you're still tracking other vessels, specifically survey ships, are any of them still out and meandering around? If yes this would support the wave height data as being acceptable for survey ships imho

[jemjem] 16/2/2022 08:52

That's true Laz. The permits are done in eme's name, but everyone working for eme in China are COSL employees or contractors. The permit department are, effectively COSL employees. IF they want to get it through quickly, they can and they will.
Imo

[jamesiebabie] 16/2/2022 08:51

Knowing 721 has been to the north of our block for several days, I wonder if there s another well or two that will be drilled? Could CNOC be looking to do a batch all around? If so, this provides me with more confidence that we are indeed in an area of 'filled to spill'.

Edit - especially for Pearl, as and when that happens.

[lazarus2010] 16/2/2022 08:45

Jem, maybe in an ideal world, but this is EME we're talking about...the unluckiest stock on the market! Also as the weather has been so bad, there could be an avalanche, or maybe tsunami of permit applications which need to be waded through, plus covid factor, so it could be 1 week, it could be more...

[lazarus2010] 16/2/2022 08:42

JB, just questioning the data...do we know if the link above uses ocean buoys to measure, or are they using satellite data which might be less accurate?

Tom probably uses this to keep an eye on surfing conditions around the world.

[jemjem] 16/2/2022 08:35

Laz,
Completion of survey to issue of permit could be as little as 7 days.
Imo

[bluehooperman] 16/2/2022 08:35

Thanks JB & Kev (the golfer :-0)Is this the lull before the Storm?? With no swell obviously!!

[jamesiebabie] 16/2/2022 08:13

Swell hts are c1.5m - 2m at the moment. It looks doable.

[lazarus2010] 16/2/2022 08:11

Craig, yeah 1.7m using a bigger vessel. The first link I posted is specially designed survey ship for upto 2.5m and second link is to Autonomous Underwater Vehicle, pre programmed and off it trots...or swims 🤔