Empyrean Energy Share Discussion Threads

[blocker2] 11/2/2018 14:17

Can't be too much longer for frac permit.Maybe a announcement from Oz tonight?

[cmackay] 10/2/2018 16:01

Starzerus, I'm pleased to announce you the winner of the internet!

[starzerus] 10/2/2018 11:34

Sorry to be course but I had heard that he spent his lunch times at school in the toilets with the strange boys - hence his favorite declaration "Ate Pee, Enjoyed!- Brimsley ahoy!

[seagreen] 09/2/2018 22:53

I wonder if at school lunch everyone rushed to their tables not to sit next to him.... pathetic little worm.. lies and more lies what is the point


Good weekend

[blueblood] 09/2/2018 12:42

Thanks Saf

[safiande] 09/2/2018 12:35

Rich,

2 weeks suspension just to raise cash seems excessive. Normally 3 - 4 days trading halt on ASX. REL letter also refers to corporate issues. Either way it seems to be promising for the project?

[richiiiee] 09/2/2018 12:09

Safiande - I'm a bag holder in REL also, rumours are placement, or consolidation! Hope not though!

[safiande] 09/2/2018 12:07

bb,

These are my two most recent posts on REL.


Safiande - 07 Feb 2018 - 15:38:48
EME - Post Sale of Sugarloaf Asset - EME

cmackay,

Re post 15463.
The reason for the voluntary suspension is financing & corporate initiatives unique to REL.
PCL is not involved to my knowledge. Suspension has been extended to Monday latest which is the best part of two weeks, which is an unusually long period merely to announce fund raising. They have just changed their name from Magnum to Raven & sold Botswana to Strata X, so I assume that they plan to keep Tulainyo & finance follow on wells?



Safiande - 05 Feb 2018 - 12:30:58
EME - Post Sale of Sugarloaf Asset - EME
Raven Energy still in suspension since Wed. Must be Tulainyo related which is now their only project as they have sold their remaining stake in Botswana to Strata X. In turn Strata X have sold most of their projects with the exception of Botswana & Eagle Oil Pool. Strata X is the operator at Eagle, although EME has a much higher interest.

[showme01] 09/2/2018 12:05

Richiiiee. I know, dead right. The lower Dempsey zone is a bonus and not expected. They have got to start from the bottom up so it makes sense to get all you can in this bottom zone. Only downside is it takes time with having to frac this section but we have got plenty of that with so much else going on.

[richiiiee] 09/2/2018 11:50

Dempsey failed , are you on a wind up, it's flowing to pipeline from the lowest zone which they will frac, the upper zones are gas saturated FACT, and Tulainyo is huge as will Alvares Be.

[blueblood] 09/2/2018 11:49

Why was Raven suspended for 2 weeks and did they raise cash?

[brimsley] 09/2/2018 11:46

Alvares is a back burner listen to Begg
Dempsey failed and if Tulainyo fails Alvares will never be re entered Fact stop deluding yourselves life will be easier cash needed either way enjoy

[safiande] 09/2/2018 11:45

bb,
Welcome. Dempsey is also in close proximity.
REL due to trade again on Mon after 2 weeks voluntary suspension.

[blueblood] 09/2/2018 11:33

Great news and thanks for posting Safi. I hope SGC can get Alvares underway in next few months!

[bluehooperman] 09/2/2018 11:25

Peel the Aggressor is back on the bid :-)Roll on 14p

[safiande] 09/2/2018 11:19

Latest research report from Carmichael on REL. Bodes well for Alvares which is on trend.

“Raven Energy Ltd (REL)
January 24, 2018
Initial Tulainyo-2 Results Are Encouraging

Summary Key Points
Initial results from Tulainyo-2 show that there is potentially up to 56m of net gas pay in the target sandstones with good porosity: The JV has completed some initial testing on the well, and the results indicate there are multiple potential gas pay zones in the Tulainyo-2 well. This positive result, therefore, meets the expectations of the JV as well as being consistent with the results of the Tulainyo-1 well which was drilled in 2017 and confirmed the presence of gas saturated sands in the Tulainyo structure.
The successful drilling and completion of the Tulainyo-2 well is an achievement in itself: The successful drilling and completion of the Tulainyo-2 well to planned terminal depth is an important achievement. Reviewing the well reports from the Tulainyo-1 drilling program reveals the challenges of drilling a successful well into the Tulainyo structure. The subsurface conditions are challenging from both a geo-mechanical and geology perspective.
The Next Steps: The next step in the program is the flow testing of the well to determine if gas can be recovered to surface in a consistent flow. The flow rate that is achieved in the testing will indicate the potential commerciality of the play. The JV is in the process of planning this portion of the evaluation program, and it is expected that it will commence with the test in the next several weeks. The test will provide critical data points that can be used to develop the next steps and ultimately determine the path towards a commercial development.

Our View
The Porosity is good but what about permeability?
The fact that the sands are gas saturated and display a reasonable level of porosity is in our opinion an outstanding result. While the well shows encouraging levels of porosity, the level of permeability is uncertain because the JV did not recover drill core from the well for laboratory testing. In the absence of drill core, the result from the flow testing program will give a good indication of the permeability of the sandstone in the reservoir.
The project has access to markets
Considering the results that have been achieved to this point and if the flow testing is successful, there is a strong possibility that Tulainyo could result in commercial development. There is a market for the gas as California imports a large amount of its domestic gas needs and the project is situated in an infrastructure-rich area. The demand for gas and the access to markets will help the JV move onto the development stage if the play is deemed to be commercial.
Could there be more gas in the structure lower down?
The original Tulainyo well was meant to intersect areas of interest down to 11,000 ft. Due to the technical difficulties encountered in the drilling of the well, the well TD at 5,700 ft. Tulainyo-2 was successfully drilled to 5,700 feet, and therefore, a large portion of the structure remains untested. Thanks to the confirmation of gas in the upper part of the structure it is more than likely additional gas will be present in the lower part of the structure. If so, this could be a very large accumulation indeed.

Full report



Extracts
“DJC has reviewed the log records of the nearby Tulianyo-1 well and the results presented here are in our view consistent with Tulainyo-1 results which showed multiple hydrocarbon shows with good porosity in the sandstone reservoirs.
Post drilling evaluation of the data from the wireline logs that were run on the well has identified a potential gross pay of 118m with net pay of up to 56m. PAN has also announced that it is estimated that the porosity of the better sandstone reservoir is in the range of 15% to 20%. Porosity in this range is viewed as being a level that could support a commercial gas project.
The over-pressured nature of the Tulainyo structure should also aid gas recovery which will contribute to more favourable well economics. The over-pressure is partially caused by the basin being proximal to the St Andreas fault.”

“The fact that Tulainyo-2 was successfully completed, in our view, demonstrates that the JV has potentially “cracked the code” to successfully extract hydrocarbons from the play and have mastered the challenging subsurface conditions. It should, therefore, be no problem to drill follow up wells as the play evolves.”

[stewart4900] 09/2/2018 11:06

This was our twitter conversation the other day :-

@10one60
Feb 7

Wouldn't be surprised if Conrad and eme did another Duyung drill over summer

Feb 7

I hope they do that in Indonesia rather than sell their stake, Conrad drilled the last well fast and efficient and look at the great result.

Eme have 3 great assets

Reply



New 9 day high trader
💡
‏


@10one60
Feb 7

More
I think TK knows how good indo is. Flow was huge from shallow drill last year. Am buying eme for 10-15 bagger to 200p.

Reply

Feb 8

More
Let me know just before you buy cheers

Reply


New 9 day high trader
💡
‏
@10one60
It will be in 14.7-15 range and not below
12:08 AM - 8 Feb 2018

[brimsley] 09/2/2018 10:24

Obvious a big sell order in the market MMs doing their best enjoy

[honestmarty] 09/2/2018 10:10

89k is a sell I assume?

[abergele] 09/2/2018 10:08

Are the brokers trading on the basis of T trades,in the hope they are coming back to them to cover those deals ,in 10-20 days..
selling what they don't have even.
Do they /will they do this.??

edit.
somebody has got tempted to sell a fair size,at 13.6p

[jemjem] 09/2/2018 10:04

I think showme picked up the last of the available shares the other day at 13.65.

[richiiiee] 09/2/2018 10:02

Big buyer waiting in the wings!

[bluehooperman] 09/2/2018 10:01

Well, wellDummy sell of 1,000,000 and they still are giving me a firm quote of 13.55pI think you're right Jemjem, either a big buyer, or news is imminent:-))