Empyrean Energy Share Discussion Threads

[judijudi] 11/4/2024 14:48

Don’t listen
They can’t even afford to stay in partially!

[blakieboy7] 11/4/2024 14:33

How could EME fully stay in without funds?

[safiande] 11/4/2024 14:10

Estimates here for the cash value of any sale have always been much lower but of course if EME stay in either partially or fully then they will benefit greatly from the guaranteed cash flow particularly during the first 7 years of plateau prod with up to 8 wells in place. Phase 1 ( 6 wells - 2 dry tree & 4 sub surface ) and Phase 2 ( 2 wells )

[michmcd] 11/4/2024 14:01

Thanks Saf, i'd settle for $100m. :-)

[safiande] 11/4/2024 13:10

michmcd8,

We will keep you informed of any change to the values in post 54644. If you did the calcs, the EME portion which is 8.5% of the GSA is A$380m ( edit ) or so. Any sale value will be much lower. This GSA amount is on the basis of Mario´s A$6billion (edit) mentioned verbally during his " Ausbiz " interview on 18 May 2023. The GSA value could now be higher as it is based on Brent which has increased by about $7 since then. Deductions for fiscal take, capex, transportation tariffs etc could be higher than the US$1.5billion calculation.
We assume that Mario is quite reliable as he appears to be Conrad´s spokesman at these events. He is a NED with over 40 years experience in O & G. Also it is believed that he owns the second most shares of all of the Conrad directors and owns the sixth most shares of all of the substantial holders ( 7.15% ).

[odillon] 11/4/2024 13:05

From Offshore-Energy.biz on Christmas Day

"Patrick Cross, Empyrean’s Non-Executive Chairman, commented: “In China, planning and further de-risking work is currently being finalized with the aim to ultimately drill the Topaz prospect in 2024. These activities, largely focused on oil migration into Topaz, are expected to be completed in the immediate future.”"

"the immediate future". It could be a film title. My understanding of that expression is that it means just after now. So one might have thought it meant Boxing Day at the latest.

[odillon] 11/4/2024 12:48

I agree Blakie, or if the surveys have not yet been completed EME could at least provide an update.

[michmcd] 11/4/2024 09:54

I suspect the results are being used to negotiate any extension - at least hope thats what is happening

[blakieboy7] 11/4/2024 09:07

The projects must be completed by now, they can at least share their findings

[currypasty] 11/4/2024 08:29

probably take months, imo

[blueblood] 11/4/2024 08:07

Where's the Topaz extension?

[blakieboy7] 09/4/2024 16:12

Words like that don't offend me, IDGAF, but I know they offend some in this group. Can't you all just agree to be civil, even if you disagree with each other?

[safiande] 09/4/2024 12:04

michmcd8 Apr '24 - 19:24 - 54633

Can you put a net fiscal value to that PA?

----------------------------

michmcd9,

Per annum contains too many variables unless Zengas is still here. Overall the last number we have for the GSA is A$6billion ( edit ). This was in May 2023. We can expect this to increase as it is priced against Brent which has risen by about US$7. Also the Minister has negotiated an improved price formula. Fiscal take mainly taxes is huge about US$1.2billion, plus capex so say US$1.5billion in total to be deducted. There will be other expenses such as the WNTS transportation tariffs. Currently the pipeline is only utilised at 60% so the pipeline owners will be gagging for extra business.
Despite the recent asinine posts of oddy & hilly sore bottom, EME´s Mako equity is 8.5% so if you apply that it will give you an idea of the value to EME. Any sale value will be lower..

[michmcd] 09/4/2024 10:08

I thought we had been round the Saf is Spartacus debate in the past and accepted he was neither based in Aus or TK.

[judijudi] 09/4/2024 09:59

George
He’s a Narcassist

[currypasty] 09/4/2024 09:44

IMO, there is little planning, just fire fighting

[georgesorrow] 09/4/2024 09:43

Yes, but one minute he is suggesting that EME wants to hold on to part if not all of Mako, as a long term cash cow (presumably borrowing against upgraded "reserves" to fund a share of capital costs), the next he says Tom wants to use the Mako sale proceeds to fund new projects. It can't be both. Is young Tom confused about what to do? Or is Saf just getting off on pretending to have insider knowledge?

[judijudi] 09/4/2024 08:59

show,
I thought that might be the case

[showme01] 09/4/2024 08:35

JJ, imo saf is TK. He is trying to condition us lot on here.