Empyrean Energy Share Discussion Threads

[buzzzzzzzz] 10/3/2022 13:42

You are not still banging on why the share price is not rising!!!!!

Just look at the news, people's minds are elsewhere at the moment particularly at the maternity hospital in Mariupol.

Have some compasion and stop worrying about your personal gain at this time.

The share price here will rise in good time.

[lazarus2010] 10/3/2022 13:27

I feel like we have become becalmed and we need a really good wind, not just little breezes, to get us moving. Pity we're not actually sat in the Tropics, well some might be?!

Lots of news was expected to get the share price up but nothing as yet has really worked.

SP rose to 9p ahead of the placement and funding for the rig, which was expected to get us and keep us above 12pps.

News of rig contract was supposed to get the share price up.

news of survey was supposed to get the share price up

news of Duyung drilling results and bigger field size was supposed to get the share price up

news of increased gas prices and therefore an expectation of stonking GSA news was supposed to get the share price up

rumours of shorters closing, and the actual closing if true should have got the share price up

even news of SETS was supposed to get rid of the underhand MMs manipulating the share price which should see a rise...

WTF other than an actual announcement that we have hit oil and tested the flow rates is going to get the share price up??

[jemjem] 10/3/2022 11:06

Apologies if this got posted previously. It was only originally available by subscription, but I just noticed is now available to all. It feels like it is getting bigger and better - but Conrad taking their time to get the best price. It'll be worth waiting for.


Mako offshore project has sharper look in Indonesia
Joint venture aiming for final investment decision later this year or early 2023


The Conrad Petroleum-led joint venture that owns the Mako gas project in the Natuna Sea offshore northern Indonesia is zeroing in on a new development concept as it aims for the final investment decision late this year.

The favoured concept is understood to be a mobile offshore production unit (MOPU), otherwise known as a jack-up production unit, and a 16-kilometre subsea pipeline that will connect to the nearby West Natuna pipeline system, a major third-party owned trunkline.

Jakarta-based market sources said the project is in the pre-front end engineering and design phase, and that a local Indonesian engineering house is performing that work.

Mobile offshore production units are usually upgraded jack-up drilling rigs converted for production through the addition of processing equipment. The advantage is that they can be relocated to another location.

Several companies in Indonesia have the capability to deliver a MOPU, which a joint venture would ordinarily lease from the supplier, said Jakarta sources. Certain contractors have received invitations from Conrad to express their interest in supplying a MOPU.

The previous Mako development concept included an offshore wellhead platform.

A spokesperson for Jakarta-headquartered Conrad confirmed to Upstream that the joint venture is finalising with the Indonesian regulator SKK Migas a revision to the Mako plan of development.

“The precise upstream facility configuration is under active discussion with the regulator with the utilisation of a MOPU being one of the development concepts under consideration,” said the spokesperson

Once the new development plan is finalised, the project is expected to enter into the FEED phase, with the final investment decision expected in late 2022 or early 2023.

A crucial requirement for Mako to proceed to sanction is securing a gas sales agreement, and Conrad is in negotiations with several interested parties, according to joint venture partner Empyrean Energy.

Indonesian partners step up Mako gas drive with key contract in sight
Read more
The field is located near to the West Natuna pipeline system so gas from the field can be marketed to buyers in both Indonesia and Singapore.

Privately-owned Conrad has a 76.5% operated interest in the Mako project and its co-owners are the UK-listed pairing of Coro Energy on 15% and Empyrean on 8.5%.

Consultancy Gaffney Cline & Associates in May 2020 completed an independent resource estimate for Mako in which the contingent recoverable resource estimate was 495 billion cubic feet of dry gas.

The field is located in the shallow-water Duyung production sharing contract, which covers 1100 square kilometres in the West Natuna basin. The Mako shallow gas discovery encountered 23 feet of gas-bearing good quality reservoir quality rock with high permeability sands in the multi-darcy range.

The gas is of a high quality and is close to 100% methane.

[jemjem] 10/3/2022 08:46

Laz. It's operational now.
You still have the original mm's doing their stuff as before - hence the 6.72 bid. But also it's possible for those with DMA to put orders directly onto the book. It's hardly started yet and there are currently only 2 DMA orders in. Once there is news and the trade volume picks up, I suspect you'll see lots of DMA orders.
If you have level 2, have a look at PANR for example. They still have mm's, but the order book is dominated by DMA orders.
Imo

[currypasty] 10/3/2022 08:43

market makers can still undercut the listed price to get the business

[lazarus2010] 10/3/2022 08:34

are we trading via SETS only from this morning, or are we transitioning during the day, presumably all new buys will be via sells but existing trades will be closing via SETSqx?

Just wondering why the bid shows at 6.6 but being offered 6.72 for 50k? Does SETS not mean that the bid price displayed is the price you get?
---------------------------------------

...advises that it will transition trading of the Company's shares on AIM from the London Stock Exchange's SETSqx (Stock Exchange Electronic Trading Service: Quotes and Crosses) trading platform to its SETS (Stock Exchange Trading System) platform, effective Thursday 10 March 2022.

[linz22] 10/3/2022 07:34

All very fascinating, (and no doubt useful for traders) but it won't expediate the permitting and spud date..?

[blakieboy7] 10/3/2022 07:30

Yeah Toon will be delighted about this he's been calling for this for a long time

[judijudi] 10/3/2022 07:29

blue,
That’s clears that up then 🤷‍a94;️😂🤣

[bluehooperman] 10/3/2022 07:26

SETS vs SETSqx: Main differencesThere are several differences between SETS and SETSqx. Here are the main differences:SETS is traded via electronic orders and SETSqx is through market maker quotes and a periodic electronic auction bookThe closing auction sets the closing price on SETS whereas the mid-price is used on SETSqx if there is no uncrossing tradeThere is no SETSqx order book and stop losses can only be placed on the SETSqx system by using derivatives such as spread betting or CFDs

[mike the golfer] 10/3/2022 07:22

Preparation for higher volume of trades?

[10owen] 10/3/2022 07:21

Toon will be a happy bunny hes been calling for this for a long time.Good news.

[blakieboy7] 10/3/2022 07:17

Excellent news!!

[pb01] 10/3/2022 07:14

Soggy _ in a few words More liquidity, tighter spreads. Easier to buy and sell in volume. Good news for shareholders

[soggy] 10/3/2022 07:08

I know that moving to SETS has often been mentioned on this BB but can someone outline in a nutshell what the advantage of this move is please? Ta.

[bluehooperman] 10/3/2022 07:03

SETS at last :-))

[judijudi] 10/3/2022 07:03

Edit:
Clicked on wrong link


Moving to SETS though 👌👍

[rickyhatton] 10/3/2022 02:05

"Close to or just under 3%" vive la difference!

[thetoonarmy2] 09/3/2022 18:31

Begorrah I'm not telling people off for not keeping the faith that's for every individual to make their own decisions, its Stewart I'm telling off for swinging one day happy as larry next day he is copying you :)

It was Stewart who brought the Faith word up not me I just repeated him and another thing I mentioned people large holders over 3% I know about also several others who are close to or just under 3% level whom I do speak to regularly among a number of other posters with several million shares none of which are interested in selling anytime soon.
Whipsaw & Lazarus I think now is definitely the time to encourage people to buy we are on the Cusp of 2 transformational pieces of news what's not to like and of course, we will always attract traders in and out that's OK as its all part of the game.

[whipsawtom] 09/3/2022 17:58

Laz, you are right. If punters wait for certainty then of course prices change. My point is that there is loads of money that is more risk averse than current holders, that will sit on the sidelines until the uncertainty regarding timing and rig availability is removed. Those willing to take more risk are always rewarded more handsomely if they get it right - but the risk is that EME need to lock in a rig slot with the rig currently drilling a well for CNOOC. Remove that risk and a wider audience is likely to take notice.
Begorrah, my understanding is that Tom has been able to raise money over the years, and has even raised money above the market price in at least one placing that I can recall. If you look at the total £’s he has invested himself over the years, that puts him in rare company. In any case, I do not pin my expectations on anyone else’s judgement other than my own. The fact remains that if Empyrean secures rig availability before the permit expires then this is going to be one very exciting ride. I have rightly tempered my expectations and qualified my post by stating that I will tell people to take a punt once the rig is secured and the timeframes are known. Those with a greater risk tolerance can always get in earlier if they want!

[begorrah88] 09/3/2022 17:47

ToonThat's a bit unbecoming of you to be telling people off for not 'keeping the faith'. I find it extraordinary that you would believe all the people & institutions that have been involved in the various placings are keeping you abreast, honestly, of their decisions to hold or sell.Somebody is selling, you can see it every day & has been the same for months & months. That is why the share price is where it is & why, despite all the previous catalysts to trigger a rise, it resolutely refuses to get any impetus.I honestly hope your profound belief is rewarded but it wouldn't surprise me in the slightest if even sparkling news was heavily sold into.

[thetoonarmy2] 09/3/2022 17:10

Begorrah I don't get where you think a large overhang is holding this back I see 2 way trade and although I wasn't particularly keen on the Telegram BB I must say it has certainly brought the volume up which is a good thing.

Stewart. You also said an overhang from the placings or Large Holders are selling well I would love to know where you get your info from and I know ALL the large holders and non are selling we have been here a long time why would anyone be bottling it now on the cusp of Duyung being sorted and Rig & Spud date coming out imminently. So you say you either have faith or not? I understand Begorrah has said he doesn't have faith in either the management or the project that's fair enough, but you range from either Uber positive or just moaning for the sake of it are you sure this is the share for you, it certainly seems to depress you or did you forget your tablets today.
Considering we have now had the late lamented weather delayed survey done, I'm surprised you are not demanding some PR this week as let's be honest it's remiss for Tom not to have loads of PR done already this week, isn't it!

Look this is the most exciting time I have seen in EME history Drilling China & Duyung what on earth is not to like.

[begorrah88] 09/3/2022 17:04

Let's not forget that Tom has completely misjudged the market appetite for EME shares over the years & even had to pull one of his placings. I'd hate to think you were pinning your expectations on his judgement WST ;-)