Empyrean Energy Share Discussion Threads

[thegreatgeraldo] 04/5/2022 12:53

begorrah884 May '22 - 11:34 - 48226 of 48231
0 2 0
Toon,

No, I won’t be keeping an eye out here (pauses to allow for cheering from the permanently deluded) as it is a thankless task trying to highlight the worrying things that go on at EME & I don’t like the prospects going forward after such a huge miss on Jade. Can’t see many potential farminees stepping forward to be part of the next set of calamities. If any do I think they will want the Lion’s share of any return for their risk.

...OTOH, Topaz won't cost a fortune to drill...... so risk/reward ain't too bad given its' potential size......

[daler1966] 04/5/2022 12:53

1 million buy :-)

[dwnash1] 04/5/2022 12:36

Blakieboy,
He hasn't held for ages,is my thoughts,what he says is what he wants us to believe..
I could easily say I hold 2 million EME, but I hav'nt that many.
So it's a con world on the boards,

[lazarus2010] 04/5/2022 11:57

cheers JB, that shows listings out to 10th June, so a June listing still a possibility

[jamesiebabie] 04/5/2022 11:39

Laz - no time soon.

[blakieboy7] 04/5/2022 11:37

Begorrah, have you sold up yet?! ;)

[begorrah88] 04/5/2022 11:34

Toon,No, I won't be keeping an eye out here (pauses to allow for cheering from the permanently deluded) as it is a thankless task trying to highlight the worrying things that go on at EME & I don't like the prospects going forward after such a huge miss on Jade. Can't see many potential farminees stepping forward to be part of the next set of calamities. If any do I think they will want the Lion's share of any return for their risk.There is a solid backbone of right minded people on here like judijudi, buffy & nametrade etc that are level headed enough call out some of the ramping when it gets out of hand here ( BTW aren't Saf,Starzerus, Whipsawtom etc all due to crawl out from under their rocks again now after today's RNS?)& of course there are also the permanently trapped loyal TK apologists who will continue to swallow his BS and salute him;-)

[mark of the rushes] 04/5/2022 11:11

After the sale of Sugarloaf 7.9p per share was returned to shareholders and not as a dividend but as a return of capital, which for tax reasons was better for me. Not sure how many shares were in issue at that time.

[lazarus2010] 04/5/2022 11:10

does anybody know when Conrad are looking to list?

They've certainly got their timing right so I would think they're looking to do it sooner rather than later with current PoO and PoG, and the GSA is probably the trigger.

If it isn't announced before their listing, they will at least have to throw a valuation at the asset, which will be based on 'indicative' Asian piped gas contract prices being signed currently.

aimho

[thetoonarmy2] 04/5/2022 11:09

Begorrah what I was saying that for a full debrief would take a bit of time and it will, I be did ask if he could put something out in the interim so holders get a bit of an understanding about what happened so no not slighted in the least :)Happy about doing Topaz though I think that's good news for us but no doubt you will be here to keep an eye on things for us :):)

[lazarus2010] 04/5/2022 11:06

I think it's clear Tom is looking for a farminee to join the drill. So at least half the £10mln, and the testing cost will only apply if there is oil. The $ has strengthened against the £, so any sale in ££s is worth more (c. 10%) than previous. The original Cenkos broker notes used a figure, from memory, of c. $5/MMscfg, I would hazard a guess that with LNG prices c. $26, the Duyung deal will be much higher than $5!!

As ever, not very helpful!!

[helpfull] 04/5/2022 10:45

EME and CORO shareholders have been deliberating about when Duyung might be monetized and what it will be worth to shareholders. Another factor that should be considered is the willingness of the respective management's to pass on any dividend to shareholdes.

EME has been in this position before with the sale of assets. So it is not averse to pass on any surplus (with a little arm twisting). I think the company returned $17.5 million to shareholders after an asset sale of about $75 million, alowing for tax and debt and other sundries. Any Duyung sale must allow for tax and debt and after today, potentially £10,000,000 for the Topaz drill and £6,000,000 for testing. Add on about $1,000,000 costs for G&A for the next year. That's not allowing for inflation and any further fall in the value of the pound. Perhaps also for Topaz there will be a post drill assessment of any future cash needs in the, very unlikely, chance of failure.

Be careful.

[bushman11] 04/5/2022 10:39

I would suggest any time very soon. After Jade disappointment GB and TK fully focused now on Duyung / the drilling of Topaz. Please DYOR.

[bushman11] 04/5/2022 10:26

Topaz prospect RNS on Twitter.

[buzzzzzzzz] 04/5/2022 10:15

Officer

No one has a clue except it has been due since 1st Jan and imminent since 31st March

Don't hold your breath!!!!

[bushman11] 04/5/2022 10:15

Excellent news. The EME timing for drilling Topaz prospect fits in perfectly with CNOOC confirmation they ' re investing billions in O & G exploration in SCS 2022/23. Also Duyung news soon. TK and GB hugely motivated after Jade disappointment, hungry for success. 10/10. Please DYOR

[officerdigby] 04/5/2022 09:57

When might any Duyung news come ?TIA.

[abergele] 04/5/2022 09:40

Well said JJ,
Once again the only answer for us,and bigger holders trapped here as it stands.

[bskiny1] 04/5/2022 09:34

JJ....good but we are assuming after the jade failure anyone wants a % of Topaz...GLA

[begorrah88] 04/5/2022 09:26

So a refusal to let the dream die.Going to charge forward and convince themselves they must have had their research almost right about gas clouds.Cue the ramping starting up again from the usual suspects as the merry-go-round cranks back into action.Toon could feel a justified slight that TK told him yesterday wouldn't be rushing anything out & waiting for Gaz return and yet the next morning............Maybe he read my post about using a phone?

[gerd212] 04/5/2022 09:26

How much of our 46% would we have to give up in the case of a Topaz farm-in?

[lazarus2010] 04/5/2022 09:24

JJ, agree on the farm out, I also said it was the way to go in order to de-risk a duster...but seems that Tom either didn't see it that way or couldn't get a farm-in partner at the right price I guess.

I don't want to see Duyung sold completely, but a lot depends on how much we might be offered...if it's a derisory amount then raise the funds and develop it. If it's £50mln plus then yes, go for it.

[amont92051] 04/5/2022 09:23

TK will do exactly what TK wants to do.

I'm just holding and hoping for success of any description after many years of frustration.

[michmcd] 04/5/2022 09:17

Yeah i agree too. And I have 2.52m reasons to hope its successful!