Empyrean Energy Share Discussion Threads

[thegreatgeraldo] 19/4/2022 13:45

lazarus, not sure what you're saying & why you posted. I don't have a problem with the company publishing their updated GCOS...as suggested from my original post.... the gas cloud is an important indicator & its confirmation here is significant, so logical to revise the GCOS...

...plenty of other wells drilled over the years will have discovered confirmatory, or otherwise(!!) evidence during drilling, but as I posted originally, I don't recall another company publishing their updated GCOS during drilling...

[lazarus2010] 19/4/2022 13:30

tgg...how many wells have you watched over the years where the initial 3D has shown a gas cloud and this has become one of the primary pieces of evidence for there being underlying petroleum? I'll hazard a guess that the answer is zero. Hence why the detection of C1 gas above the expected oil column IS BIG NEWS. As it says in the RNS, this is another box ticked in the process of proving up oil. Had there not been any gas in the 'gas cloud anomaly' as shown on the 3D images, it would have been a VERY BIG NEGATIVE and potentially undermined the whole reason for drilling this target.

Still no proof that there is oil, but as they state, it increases the CoS that there is.

aimho dyor niai

[haideralifool] 19/4/2022 13:16

tgg - are you saying that they 'doth protest too much'?

[cashandcard] 19/4/2022 12:27

Its the internal GCOS so just the company putting their hats on their own assessment in realtime. GCA GCOS of 32% is still very good for an exploration well if we leave the internal GCOS aside.

Either way, we will know very shortly as the truth detector heads into the business end of this well.



Cash

[thegreatgeraldo] 19/4/2022 12:18

I've seen thousands of drilling updates over the years, today was the first one where a company has published their increased GCOS during drilling.

..all pretty logical given the confirmation of the gas cloud & its significance, just can't recall another company doing it ...& I have read a lot of drilling updates over the years....

[mynameiskhan] 19/4/2022 12:12

Next update probably in few days about target zones, possibly oil shows ???

[judijudi] 19/4/2022 11:49

whipshaw
Do one!

[lazarus2010] 19/4/2022 11:41

The gas methane, CH4
, the principal component of natural gas, does not contain sufficient evidence in itself from which to
deduce its origin on the Earth. There is some evidence from its isotopic composition, but interpretations of that are not
unique. Information, however, exists in the mode of occurrence of natural gas reservoirs, in the geographic and geological
relationships, in associated chemicals, and, above all, in the frequent association with other hydrocarbons, specifically crude
petroleum and bituminous coal. Although there are numerous occurrences of natural gas without the heavier hydrocarbons,
the association is generally so clear that one cannot contemplate an origin for the natural gas deposits independent of those
of petroleum. We shall therefore first consider the origin of the whole set of hydrocarbons, including natural gas, and then
discuss aspects that are specific to methane.

[jamesiebabie] 19/4/2022 11:36

I'd not be surprised to see another update on Friday.

[cashandcard] 19/4/2022 11:23

Well, great update. The model seems to be playing out as anticipated. Fingers crossed the model continues to play out favourably - target zone from 2340m ? Just days away then for crunch time.



Cash

[whipsawtom] 19/4/2022 11:23

Judi, pull your head in! Labelling an institution in the fashion you have above - when they put in £4m, convertible at 8p when others took a placement at 6p, to help fund this drill is ignorant and way out of line… unless you have the balance sheet to back your mouth - I would kindly suggest you keep it shut!

[currypasty] 19/4/2022 11:10

there are enough warrants at 12p to fund any testing, and not need the loan note holders again, imo

[pro_s2009] 19/4/2022 10:41

Its very simple.

The shorters have access to the CLN note stock it seems. So they can short to their hearts content knowing they can close the short with CLN stock for a profit.

And whilst they short the price down, it also means the next funding is kept as low as possible for them to buy a big long positon at a cheap price in the success case.

This is quite simply GKP happening all over again, if Jade strikes they will close the short with CLN stock conversion and then take a massive long in the placing, which they have helped to keep as low as possible with the shorting.

The stock market is all about making money. Thats why CLN's and Concertible Bonds are a pain in a butt.........it helps certain people make a lot of money.

For PI's, you just have to wait, if Jades strikes the value will out once the games are done.

[judijudi] 19/4/2022 10:34

Thank you 😀

[judijudi] 19/4/2022 10:30

Bargain time

[lazarus2010] 19/4/2022 10:27

wtf just happened there? 10p bid ffs!?

[pro_s2009] 19/4/2022 10:22

Some real effort to get "a GKP" payout.

They are holding it back and keeping it down, knowing that more money is needed, and they want in cheap on success.

CLN notes allowing them to short fully confident they can close easily.......

Remember GKP placing at 9p before it rose to 450p.........in the success case at Jade this may be very similar....... placing at 12p before the zoom upwards past 100p and more and more........

Patience thats all....if Jade is full to spill of oil, who cares where the share price is in the short term, in the long term its going up to over 200p and more with Topaz on top.

[kcowe] 19/4/2022 10:21

I have .. bought 500k more this am..

[buffythebuffoon] 19/4/2022 09:29

Kev,

On the contrary, now is the time regardless of success or failure.

I imagine you are still no wiser on Dempsey!

Buffy

[kevjames] 19/4/2022 09:12

Buffy

Topaz is is clearly dependent on success at Jade. Still lots to prove up with Jade - existence of oil is first, then the thickness of the zone and then flow rates etc. So we need all that data before thinking beyond. If Jade is successful, I would imagine they would fund raise on the back of that for Topaz - hopefully from existing shareholders only.

I only attended the 2018 AGM as I was interested at what was happening at Dempsey and was fortunate to have the day off so no time pressures. It was only at this meeting that China came onto my radar. Like many I have watched this China project for nearly 4 years and it often seemed we would never get to drill the prospect. We are now close to the pay zone but you at least understand this is a high risk business. That said, I would not be here if I felt the risks were horribly stacked against me so I am fairly confident of a favourable outcome. Kev

[tidy 2] 19/4/2022 09:11

Overall Demand isn't dropping.

[seavista] 19/4/2022 09:11

In Gaz we trust