Empyrean Energy Share Discussion Threads

[sharesure] 23/1/2024 12:18

Thanks, Jemjem. It seems that my concerns that EME’s partners may have different agendas may not be the problem that I thought it could be.
As for NED’s - I take your point although no matter how much or how little they get paid they are still potentially culpable.

[jemjem] 23/1/2024 11:46

Sharesure.
It's a fair question but, imo, not a very likely scenario.

All three of the partners are desperate for the binding GSA to be signed and then the farm down to happen. Conrad can't proceed without it and don't have the money to fund their share without a farm down. Coro have their own debt repayment date in April which is looming large. They have already sacrificed 20% of their ownership to reschedule before. They will not want to give up more.
Eme's case for the need to get it done speaks for itself!

As for the clout that eme and coro have had in negotiations, I think you're right. Conrad have taken the lead and not shared much information at all.

However, as I understand it, that is not the case for the project as a whole. I believe that all three have an equal say in the progression of the project itself so, for example, if Conrad want to embark on major expenditure for long lead time items they can be outvoted - if both coro and eme say no.

And the non-exec's...lol. For a combined less than £40k pa. what do you expect! At a guess, I think they probably provide the requirement for the company to maintain a UK tax status.

All imo.

[sharesure] 23/1/2024 11:13

The risks the executive board members have taken makes me wonder what purpose do the non-executive directors play in the decision making and risks? It’s plain for all to see that this company is very strapped for cash. What’s to stop the other JV partners thinking that if they delay further on moving the non-binding GSA HoT’s into a binding contract they could regain EME’s share of the project very cheaply? EME seems to have absolutely no say in the negotiations and how quickly any progress is made.
What a shameful position to be in.

[blueblood] 23/1/2024 10:44

They were conned and can't admit their stupidity. The least they could do is reduce salaries until they actually do something that is positive for company.

[tomthedom] 23/1/2024 10:44

what more news are you expecting???,,,
it was written off in the accounts nearly two years ago,,,
it was a con,,,
the company was conned,,,
the money has gone,,,
unless you want to spend £100k we haven't got,,,
trying to sue the bank???,,,

[xongkudu] 23/1/2024 10:02

Still no news on the missing $2m. Smacks of a spineless management unwilling to confront the truth.

[judijudi] 23/1/2024 07:13

Just a tad

[bskiny1] 23/1/2024 07:03

JJ...do I sense a note of sarcasm..

[judijudi] 23/1/2024 06:59

Wonderful news Blakie

[currypasty] 22/1/2024 16:31

at least someone is making money

1. The face value of the Convertible Note has been reduced from GBP5.28m (accrued to the end of May 2023) to GBP4.6 million;

2. No interest shall accrue on the Convertible Note until 31 December 2023, with interest accruing thereafter at a rate of 20% p.a.;

[judijudi] 22/1/2024 16:25

So they are back on full wack

[judijudi] 22/1/2024 16:20

This arrangement will conclude on the earlier of 31 December 2023 or the signing of a binding agreement for the sale (in part or whole) of Empyrean's interest in Mako.

[blakieboy7] 22/1/2024 16:11

It's embarrassing they even referred to it as that

[judijudi] 22/1/2024 16:08

Curry,
The (ahem) salary sacrifice ended in December

[judijudi] 22/1/2024 12:47

Greedy useless Leeches
In my humble opinion

[jemjem] 22/1/2024 12:15

Curry.
From memory the salary sacrifice lasted until the earlier of signing of GSA or 31st December 2023. So I believe it only lasted about 6 months?
Imo

[currypasty] 22/1/2024 12:07

Jemjem "Maybe the odd £250k while we wait for Mako?"

will that actually be for salaries? We only ever had one RNS on the 'salary sacrifice' which actually was only 1/3 salary, and instead of cash had shares... so no actual sacrifice.

Does anyone know if that scheme is still in place, if it is where is the rns's for the share issues, and if not where is the rns saying back to full cash pay ?

[birotop] 22/1/2024 12:00

Where are the cheer leaders?

[coiin stein] 22/1/2024 11:35

𝐌𝐨𝐫𝐧9842;𝐧Ү40; 𝐚𝐥𝐥 ..
𝐬𝐨 𝐦𝐲 𝐩𝐫𝐞𝐝9842;𝐜Ү53;𝐢𝐨;𝐧 𝐨𝐟 𝟎.𝟎𝟗𝟒
𝐝𝐨𝐞𝐬9847;'𝐭 𝐥𝐨𝐨𝐤 𝐭𝐨𝐨 𝐬𝐡𝐚𝐛9835;𝐲.

𝐈 𝐡𝐚𝐯𝐞 𝐉𝐮𝐧𝐞 / 𝐉𝐮𝐥𝐲 𝐦𝐚𝐫𝐤9838;𝐝 𝐟𝐨𝐫 𝐭𝐡𝐚𝐭 𝐩𝐫𝐢𝐜9838;.
𝐈'𝐦 𝐩𝐚𝐭𝐢9838;𝐧Ү53;, 𝐛𝐮𝐭 𝐚𝐭 𝐭𝐡𝐢𝐬 𝐫𝐚𝐭𝐞 𝐢𝐭 𝐜𝐨𝐮𝐥9837; 𝐛𝐞
𝐄𝐀𝐑𝐋9816;𝐄Ү25;.

[oilforex] 22/1/2024 11:26

Used to be a time way back about 15 years ago when I aspired to a million shares in these! In today's money that's only four and a half grand! ?

[cashandcard] 22/1/2024 11:24

Bloody hell. They might aswell make an announcement to the market;'shareholders are advised to assume the position'Cash

[blueblood] 22/1/2024 11:22

Conrad 1/4 in next week so hopefully they can provide some update on bids etc

[blueblood] 22/1/2024 11:20

Well if there are doing a placing they should off at least provided updates on assets to support so and get it away higher. This is just bloody ridiculous.