Empyrean Energy Share Discussion Threads

[mark of the rushes] 11/1/2018 17:48

Nexus, you're not on CERP you know.

[nexus7] 11/1/2018 17:46

Post deleted. Sorry wrong thread.

[safiande] 11/1/2018 16:39

Brent briefly crossed $70 a few mins ago. First time since Dec 2014.
Overall oil price rises good for EME i.e. not just beneficial for China but also Duyung. Oil there too & the project is likely to be more near term than China.

[currypasty] 11/1/2018 15:54

now SGC have got their directors buys out of the way, I can see an RNS update shortly

[safiande] 11/1/2018 15:50

If the Dempsey well is about to come on stream as mentioned by PCL earlier today then of course the gas must be of pipeline spec even though it wasn´t a targeted interval. Might merit a market release tomorrow by SGC as they haven´t issued any operational updates for a month or so. Could be a milestone of sorts as it seems to be the first time that gas has been produced at such depths in the Sacramento Basin.

[jemjem] 11/1/2018 15:47

If Brimsley is predicting a share price of 8p - I guess he must know about a planned 10 for 1 share split at 80p when we get there?
I think he also said the range for the year was 3p - 12p? That New Year de-ramp didn't last long.
Enjoy :-))

[thetoonarmy2] 11/1/2018 14:57

Guys I'm just chasing TK as Brimsley keeps saying about the 8p placing apparently I'm front of the queue :):) Fantastic got a few bob ready for it but TK doesn't seem to be playing!
As I have said before and TG has just repeated if he bothers you just filter him he is a guy from Melbourne who just hates Gary Jeffries of Sagasco & TK so don't worry about him having any inside knowledge, I find him amusing so I wont filter him.

Now just as we are getting ready for EME/SGC news I thought I would copy a good post from one of the contributors on Hot Copper on SGC which covers the Dempsey drill, think it says it all:

........................................


ride
256 posts.

Date:09/12/17Time:18:09:19Post #: 29509583



GO’s flaming / baiting comment has been removed.

But to those who read it here is my response:

I bought at $0.11 and my volume was significant so getting my fill at less was not an option at the time.

I said I’ve been following the SGC story for several months, and I believe it’s a great time to be buying. Moreover, buying my volume at less than $0.105 (without sitting in front of a screen and buying in 10+ separate parcels) hasn’t been an option this week. In case you didn’t notice the daily volumes have been low.

I made a motza on AVZ thanks very much, one of my closed out trades was five figures profit in less than 36 hours. I have now switched to SGC because I believe we’re getting very close to a multibagger.

So no I haven’t halved my investment here, in fact if you look at the depth I don’t see any serious sells below $0.145. Conversely there aren’t any serious buys above $0.086.

What we had this week was a period of uncertainty followed by some desperate fear-mongering by those who seem intent on seeing the share price decline.

This furthermore has co-incided with relentless capping (2-3M added and removed each day on the sell side), which can be expected when there is such low volume as we have seen.

Readers would do well to ask themselves which they would have preferred to hear:

(a) Non-commercial gas flows, plug and move up to the next zone; or

(b) High pressure zone (6000 psi) being a “significant gas discovery” unto itself, low-permeability hence time to get fracking and connect to sales for extended production test.

These two outcomes were the only realistic ones we could expect from this zone IMO and we got the most favourable outcome!

PS. People need to read what was reported to be Peter Strachan’s comments more carefully:

“Despite strong gas shows while drilling, the most recently tested zone also appears to deliver gas at sub-economic rates on natural flow at the current stage of testing, with high reservoir pressures offsetting low sandstone permeability to restrict gas flow.”

This should be a bit of a Der. moment to readers shouldn’t it?

Of course drilling sandstone at such a depth beneath the main reservoir targets is going to deliver gas at sub-economic rates “on natural flow” (emphasis).

This is stock standard stuff. Fracking is required on about 90% of all new reservoirs in the US.

“Natural flow” reservoirs are not what we are about as we are pursuing unconventional gas wells.

Have readers forgotten that we are going over gas opportunities previously overlooked by the majors who traditionally went after “natural flow” targets?

Don’t forget the reminder that “deeper gas discoveries point to a major discovery”. Well that’s what we have here. In fact testing of the lowermost zone has confirmed pipeline quality gas, as announced Monday:

“Since the last test update the results of the gas quality from the first flow test of the lowermost zone in Dempsey 1-15 have confirmed clean gas of pipeline quality with a Higher Heating Value (HHV) better than the gas from the overlying field reservoirs in the Rancho Capay Gas Field.”

So for those keeping score at home, that’s TWO OUT OF TWO ZONES that have produced gas, and the second lowermost zone may with fracking end up being commercially viable.

And we’re not even in the big zones yet!

This is the elephant, people !

[safiande] 11/1/2018 14:39

John Begg earlier today on FNN interview.

About to put Dempsey well on stream just at a modest flow rate & observe prod from this particular level.
Thereafter 2nd testing programme to enhance production.

Tulainyo being tested without stimulation. PCL very optimistic.

"Excellent chance of commercial production in California" ( Begg )

Jan 11

John Begg PCL interview

Finance News Network

“Pancontinental Oil & Gas NL (ASX:PCL) on positive developments at its projects”

[rutter] 11/1/2018 13:34

Just checking in to say that I'm still alive and haave never sold any of my EME. Graph looking very encouraging. GLA

[dodgydd] 11/1/2018 12:59

I was hoping Brimsley was going to be correct with an 8p prediction. I've £20k waiting to invest at that price. I'm very happy with this slow steady rise, the last rise to 30p was a bit overwhelming for me. Long may it continue.

[cmackay] 11/1/2018 12:34

TG, I take on board what you are saying. I don't see it as disruption, in the sense that a bulletin board isn't a tricky thing to navigate. If I was trying to raw code html and he was telling me to enjoy and see you at 8p and all that I'd give him a slap, but the occasional deramp for his 10p a post doesn't seem that problematic. I used to have him filtered and then I realised I'm not a snowflake SJW, I can cope with differing opinions. Not implying anyone else fits that description, to clarify.

My main reason for engaging with him is this; I have been on threads where the only posters are serial derampers. I therefore have no gauge of the other side of the argument because nobody presents it. I would never invest or trade primarily on a BB, but I take it into account. New money coming here could give more credence to unchallenged deramping. But I take note of your point and will keep it in mind moving forward. I apologise to any genuine holders that I have annoyed.

[showme01] 11/1/2018 12:14

TG, agree 100%

[the guardian] 11/1/2018 12:06

I can't understand why everyone doesn't just have brimsley on filter. He doesn't bother me because I haven't got a clue what he is saying. By replying to him, he is achieving his aim of disrupting the board.

Nice rise today. Hope the fraccing permit gets sanctioned soon.

[westmoreland lad] 11/1/2018 12:00

;-) Curry. Wasn't me that gave you a thumbs down.

[showme01] 11/1/2018 11:52

Let's not forget how big China could be this year. Farm out partner can't be far off.

Extract from China RNS.
Empyrean CEO Tom Kelly commented, "Empyrean is excited to confirm that, based on our internal preliminary analysis, Block 29/11 contains prospects of truly significant scale and size. That the three priority targets have a cumulative mean potential to contain 591 million barrels of oil is a great early result from the 3D seismic data recently acquired. We will obtain better resolution and imaging from the full processing of data, a process which is underway and the results of which will be announced in due course, but these early results greatly exceed our expectations and the data quality is excellent."

[currypasty] 11/1/2018 11:52

Westi, lol... edited

are you still in ?

ps what target for MYN?

[currypasty] 11/1/2018 11:38

thanks to Westi on AMER thread...

DOW JONES NEWS 11am 11-01-2018

Oil prices hit a fresh three-year high on Thursday ahead of a U.S. decision on whether to extend temporary waivers on sanctions against Iran.

Brent crude, the global oil benchmark, rose 0.3% to $69.40 a barrel on London's ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.5% at $63.88 a barrel.




bodes well for China project

[arcadian] 11/1/2018 10:55

The clouds do seem to be lifting here.

[showme01] 11/1/2018 10:54

Starting to see a bit of strength in EME share price. Onwards and upwards.

[brimsley] 11/1/2018 10:30

You want technicals well look at the chart is it 20 30 100p as you roosters promised I think not forget Dempsey good idea terrible execution wrong part of basin crying about it won’t help enjoy