Empyrean Energy Share Discussion Threads

[rutter] 24/10/2017 11:23

This from 4th October RNS The casing perforations for the first reservoir flow test are anticipated to take place towards the end of October 2017.

[twaintwix] 24/10/2017 11:12

Those expecting a result within the next week are dreamers.
The perforating gun is still on the platform and will take a few weeks to be lowered in to position and fired up. The BOD have said there will be no rush, everything will be double and treble checked before the gun is fired. A lot depends on this first perforation and a flow testing result will be nearer December than end of October imo.
The hotcopper forum is of this opinion as well and they are closer to the leaks than we are!

[paleje] 24/10/2017 10:51

FWIW the general mood on the SGC hotcopper thread is buoyant, this from one of their posters, jamieparklondon, earlier today:-

I don't think we will have to wait until mid December. The rig has already been on site for five days and a perforating gun should be close to being lowered into the hole if it hasn't already. Once the gun has done its job and blown holes in the casing, cement and penetrated the sand formation SGC should know pretty quickly what they have in the bottom formation. If it doesn't flow bad luck, plug it off and move on up to the next sand. I understand there a 4 t0 5 sands in total in the over pressured zone all separated by shales. So up to five chances of hitting pay dirt. Great odds particularly with those gas shows while drilling suggesting all five zones could be gas saturated. If the bottom sand produces pretty much at any half decent rate I recall SGC saying it will produce it before moving up hole to the next sand.

The real kicker further down the track will be the first estimate of the potential resource. But for the time being someone who should know has suggested to me the upper producing Forbes sequence which looks like it will payoff the well all by itself should produce at 6.6 mmcf a day. What you might hope for is at least double that from one or more of the high pressure zones below with a sustained rate and good flowing pressure.

Can't quite understand the share trading action maybe profit taking by those who took shares in the recent placement at 8.5 cents. That looks a pretty good deal now and will look even better before long IMHO.
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SGC (ASX)
Price at posting: 15.5¢
Sentiment: Buy
Disclosure: Held

[bobcomins2] 24/10/2017 10:49

"Empyrean is delighted that most of the preparations are now complete and that testing at the Dempsey 1-15 well is to commence shortly.

"Additional information on the Dempsey well will be provided as testing is carried out. "

Takes on average 3-4 days to Rig Up - its been 6 days since the RNS stating rig on site - so testing is probably underway right now

News could be anytime this week.

[tidy 2] 24/10/2017 10:47

Not long holders.

[terry hardacre] 24/10/2017 10:34

Low volume drops, low volume rises. It's consolidation of the share price; there are no leaks evident from this activity.The real move either way will take place on the next update imo.

[timw3] 24/10/2017 10:33

looking for 30-40p this week or next

[mikemichael2] 24/10/2017 10:25

Too many £100 profit takers.

[blakieboy7] 24/10/2017 10:13

23p gone into hiding, for now lol

[niceyman1] 24/10/2017 10:10

Will be in an hour!

[blakieboy7] 24/10/2017 10:02

23p gone!!

[cmackay] 24/10/2017 10:02

Happy days Ayesha

[ayesha4] 24/10/2017 09:58

7 scuffs from upper zones I'm told. Deeper ones darn site more !

[rittster] 24/10/2017 09:54

Rutter, in all seriousness I believe you could be right, long time coming though, good luck :-)

[phoebusav] 24/10/2017 09:54

Same here Curry. Can't buy any on Q&D, but MMs will take plenty off me.

[honestmarty] 24/10/2017 09:50

MM games?
A leak?
Positions being taken?
Seller cleared?

Could be!

[currypasty] 24/10/2017 09:50

Buying 50,000 EMPYREAN ENERGY ORD GBP0.002 shares

A firm electronic quote is not currently available for your order

You can send this order without a price limit by clicking the 'Place Order' button below, or alternatively click 'Amend' to go back and specify a limit price

Indicative Price £0.225




could be a bit of a squeeze

[niceyman1] 24/10/2017 09:49

Hang on. Time for the patient to be rewarded!

[bskiny1] 24/10/2017 09:48

If zones 1 or 2 are good this result could be anytime now

[rutter] 24/10/2017 09:48

Rittster LOL. Then you'll never be disappointed. This time is the real deal I hope.

[currypasty] 24/10/2017 09:45

let the games begin

[honestmarty] 24/10/2017 09:44

Anyone have online limits?
Looks like getting hard to buy