Empyrean Energy Share Discussion Threads

[jemjem] 22/2/2024 22:48

What looks like a big step forward on Mako. Indo Minister has agreed pricing and volumes.Nearly there...Imohttps://acrobat.adobe.com/id/urn:aaid:sc:EU:24fbf2f6-b8e9-410a-98dc-a04c5343a4fe

[judijudi] 22/2/2024 17:47

Goes The Weasel

[judijudi] 21/2/2024 13:45

Maybe Huff Puff and Guff to appease the placing subscribers?

[the donald] 21/2/2024 11:00

AS per the last 2 RNS's, it's either 'The [Conrad] Duyung farm down process is progressing. With the announcement of the Term Sheet, as well as progress on all other facets of the project, more parties have expressed interest in the Mako project. The Company is engaging in confidential discussions with potential partners regarding acquisition of a Participating Interest in the Duyung PSC.'
or
The funds raised from the Placing will be used:

· for ongoing prospect, licensing fees and permit costs at Block 29/11, Offshore China;

So news on a partner taking all or part of our 8.5% in Duyung or some form of update on Topaz. A JV must still be a possibility otherwise why commit more funds to it?

[blueblood] 21/2/2024 10:57

Hoping it's extension granted and updated Topaz studies released that will draw in JVP ?

[blueblood] 20/2/2024 12:09

And we have no money to grease their palms this time either....

[georgesorrow] 20/2/2024 12:06

If they like the look of the apparently secret studies, CNOOC could drill and keep 100%. They have their own rigs, it would be nothing to them to drill. Hope this is not their plan, of course.

[currypasty] 20/2/2024 11:59

I would have thought CNOOC would be Ok with an extension, providing it can be shown progress is being made.. they wouldnt want to drill it themselves as currently they get half for no risk and no cost

[georgesorrow] 20/2/2024 11:54

The previous extension was not so much an extension as a second-stage licensing agreement. EME fulfilled the drilling conditions for the first period (jade), and so was pretty much guaranteed a second period. The difference this time is that we have not fulfilled the condition of drilling a second well. Therefore any further extension would be a goodwill gesture by CNOOC and totally at their discetion.

I hope it happens, but we are totally at the mercy of CNOOC choosing to be generous this time around. It is different.

[the donald] 20/2/2024 11:42

JJ, as you say, they have been granted an extension previously so may well get another if needed. Needs to drill within 3 months. Who knows where they are with this but the last RNS does refer to ongoing costs associated with Topaz so that for me is some form of positive.

[the donald] 20/2/2024 11:32

Which I have just done, again :-)

[judijudi] 20/2/2024 11:18

At least the spreads better to encourage a bit of buying

[judijudi] 20/2/2024 11:09

TD,
Maybe it was just huff puff and guff?
I’ve said for ages they ain’t drilling Topaz in this window (happy for Kelly to prove me wrong)
Our only hope is an extension and we’ve already been granted that previously
IMHO

[the donald] 20/2/2024 10:30

The thing is we really don't know what is happening. EME was oversold IMO which is why it bounced up on placing news after a very quick early drop that was bought into. If you look where EME was in terms of market cap a few months ago and CORO, EME has dropped an awful lot more so it is just a correction IMO and plenty of upside in the current market cap of only circa £6m with the new placing shares.

The stand out for me in the last RNS was :-
The funds raised from the Placing will be used:

· for ongoing prospect, licensing fees and permit costs at Block 29/11, Offshore China;

This can't be dead otherwise why throw more money at it?

[georgesorrow] 20/2/2024 10:24

Or study results. Over two months now since "immediate".

[blueblood] 20/2/2024 10:00

Where we getting money from to drill in current window? No signs of Duyung completing soon or JV discussions!

[10owen] 20/2/2024 09:05

Your right of course JJ but we are over 70% up from where we were pretty much on the same news as Coro and Conrad.Just found it a bit odd the Conrad have fallen since their placing and Eme have in percentage terms gone up so much.

[judijudi] 20/2/2024 08:54

We cannot drill in this upcoming window unless we do one

[blueblood] 20/2/2024 08:48

No point unless they get drilling extension

[judijudi] 20/2/2024 08:32

10owen,
We are a tiny fraction of a penny off our all time low 🤷‍a94;️

[10owen] 20/2/2024 08:26

Makes a change for Eme to be holding up better than both Coro who are at or around a low and Conrad who hit a new low overnight.Lets hope the rise is justified and we get news soon on Topaz.As JJ has said not much time if anything is to happen before the window closes.

[judijudi] 20/2/2024 08:26

He has little regard for shareholders and never has
They are a nuisance to him unless he wants funds
He runs EME like his own personal company
It’s an ego trip and a lifestyle company and always has been
In my humble opinion only

[the donald] 20/2/2024 08:22

We don't really know what's been done and what hasn't. Hardly a good communicator is he.