Empyrean Energy Share Discussion Threads

[showme01] 26/2/2024 10:52

JJ, I disagree with 'most folk'.

This was in December on the half year annual report

' Block 29/11, Pearl River Mouth Basin, China (EME 100%)


· Joint regional oil migration study with CNOOC team conducted to map oil migration from the proven source rock south-west of Block 29/11 that charges the four CNOOC oil discoveries (immediately west of Block 29/11 and Topaz) and extends this into Block 29/11 to map these potential migration pathways to Topaz. Comprehensive study also included potential migration pathways from a new source/kitchen identified by Empyrean 3D data.


· Simultaneous 3D seismic inversion project being conducted in two phases to firstly assess whether light oil pay in the target reservoir can be discriminated from a water bearing reservoir by seismic inversion and secondly to invert the entire 3D seismic data to generate several datasets for the elastic properties. These datasets will be analysed for high grading the Topaz prospect.


· Drill Preparation of the Topaz prospect is ongoing such that should funding become available, operations can commence within the favourable weather window.'

QUESTION>
So would CNOOC really withdraw the license rather extend it considering they have been working with EME on their 3D data?

Personally if no JV free carry gets announced to drill in this coming window, I can't see why they would not extend it by 12 months to allow EME to either get a JV free carry or bite the bullet and drill it with some of the Duyung proceeds. Just my opinion.

[judijudi] 26/2/2024 10:15

I think most folk following EME realise just how perilously close we are to losing Topaz
We can only hope for an extension
imho

[blakieboy7] 26/2/2024 09:55

Yes was definitely hoping for more!

[blueblood] 26/2/2024 09:48

Very muted response today following Fridays news and quite a bit of press coverage on Mako

[blakieboy7] 26/2/2024 05:47

CRD up almost 6%

[showme01] 25/2/2024 17:09

Maybe you should stay off bulletin boards and concentrate on Topaz?

[showme01] 25/2/2024 17:07

Kelly, I mean Safi. What are you smoking?

[safiande] 25/2/2024 16:53

Hilly,
Do you still hook up with I like trees behind the big trees in Hampstead Heath which is why he likes trees?

[safiande] 25/2/2024 16:43

George.

No worries as you say. The domestic gas price for Mako is $5.5 per mmbtu as agreed in the revised POD. which is much lower than the export GSA. esp after the Minister insisted on an improved price formula. The pipeline to Indo has been mooted for years but the cost has never been included in any long term costings. I guess that it is not considered to be economic relative to DMO revenue. The Indos already benefit hugely from any export sale via taxes etc. Fiscal take from Mako is US$1billion plus.

[showme01] 25/2/2024 16:22

Hope all is well with you in retirement.

[showme01] 25/2/2024 16:21

Hi Tarz, only just :-)

[georgesorrow] 25/2/2024 16:08

Thanks Safiande, that sounds OK to me. No worries then...

[starzerus] 25/2/2024 16:07

Hey ShowMe still alive then.

[showme01] 25/2/2024 16:04

EME broken it's down trend and Zak expects 1.1p by end of March if you believe charts

13.30 mins in

[safiande] 25/2/2024 16:04

George,

The export GSA is with Sembcorp at much higher prices than the DMO sale to PT Perusahaan Gas Negara Tok ( PGN ).
All energy contracts in Indo contain a DMO provision for a minimum of 25% or so of production to be sold domestically. As mentioned recently the pipeline from Singapore to Indo is unlikely ever to be built because of the high cost of US$100m or so. Furthermore it will need to cross busy shipping lanes.
If so, it is confirmed by CRD that all of the gas will be sold at the much higher export prices up to the end of the current licence which expires in 2037. Economic prod is forecast to continue to 2051.

[showme01] 25/2/2024 15:44

Hilly, lol. Don't compare me with that bloody hippy.

[showme01] 24/2/2024 14:37

Probably TK and his many avatars

[showme01] 24/2/2024 14:36

Three tools .lol

[blakieboy7] 24/2/2024 11:12

Which tool voted you down?!

[the donald] 24/2/2024 10:47

Unfortunately, due to the 10% per month interest on the old deal and probably to keep the lender on side, I don't think the new deal is that bad considering they held all the aces. It looks like the pricing will be even better with Duyung so our 8.5% is worth more and might even offset that 15% . Hopefully not too long until we find out 🙏