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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Empyrean Energy Plc | EME | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.05 | 19.23% | 0.31 | 16:35:15 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.31 | 0.26 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 09/7/2024 13:44 by showme01 JJ. serious question. If you could sell all of your EME shares now for 1p on the condition that you never buy another EME share, would you do it? |
Posted at 09/7/2024 07:36 by showme01 A 6m sell at 0.30 and I was getting a quote for 4m at 0.305 to sell, imo the MM have a good sized buy order. Hardly surprising, the impatient have sold and Duyung major GSA any time now. Then once the deal is known, EME will be closer to selling their stake. Who knows how much for but its going to be a lot more than the current market cap less debt.JJ, you are really not helping your own investment moaning about all the 'confetti ' shares. IMO , most of these will be held by directors and LTH who will use these shares to get their averages down. I suspect most will only sell in part or full once broken even or wait in the event that funds from Duyung are distributed. However, in a recent RNS, TK did state ' We are also being proactive in identifying additional low risk/high impact opportunities that will complement our portfolio as we monetise Mako." With funds so hard to secure to develop small oil and gas company opportunities, this might not be a bad strategy. Find a couple of good low risk/high impact opportunities, could really make a positive impact on the market cap coming from such a low base. |
Posted at 08/7/2024 10:22 by showme01 JJ , I'm all up for debate.The share price has priced in no Duyung progress and certainly no Topaz licence. I accept that CNOCC might have lost faith in EMEs ability to deliver but they have extended it previously and Gas Clouds Gaz clearly has a good relationship hence the award initially. You can't claim if it is awarded, it will be on worse terms. How would you know? Topaz would be a great bonus if awarded, Duyung is my focus as EME clearly undervalued and once terms have been agreed to buy our percentage, at least we can reflect true value. What happens then, who knows. |
Posted at 13/6/2024 14:37 by safiande I recollect that a few punters here espoused the merits of EME entering into further exploration deals to enhance cash flow. I assume that " low risk / high impact " in today´s RNS from Tom refers to early cash flow. If the proceeds from Mako are substantial as mentioned, then Tom can afford to enter into decent wi arrangements on these new programmes with the cash left over following the Topaz JVP deal, assuming that the extension is granted and assuming that EME wishes to continue.Conrad confirmed today that despite the likely 6 month slippage in the Mako FID that :- "The parties continue to endeavour to sign a GSA by the end June 2024." This refers primarily to the export GSA which will impact favourably on the sale process and ultimate value. Furthermore Conrad also confirmed today that additional parties have expressed an interest in the sale which should positively affect the selling price. As Mako is a cash cow I had considered that EME might stay in at least partially. However first production has slipped to at least Q4 / 2026 so a total sale in say Q3 / 2024 will free up cash for Topaz and the new programmes as needed. |
Posted at 08/6/2024 10:58 by odillon Tom the Dom - it only takes one shareholder to attend the AGM and ask the pertinent questions. Buzzzzzz went to the 2023 AGM. He asked about the fraudulent transaction and was told that they were awaiting the results of the police investigation. Additionally he said that they felt they had a good case but would need funds to pursue it.Some of us arrived at the EME party at a later stage than others. I was one of the Jade spike party guests. As well as being an EME shareholder I am someone who likes getting to the bottom of mysteries. I learned about the fraudulent transaction after becoming a shareholder. I am intrigued as to why I have been unable to find any Court record of the company applying for an injunction. I also find it puzzling that whilst the EME RNS about the injunction and the police investigation was repeated on the various share websites, there appears to be no coverage anywhere of what I think is a striking story with any comment independent of what the company said. Shareholder concerns about this matter are not a current phenomenon, they have been voiced repeatedly since the money was reported by the company as misdirected. I envy your ability to take a "let it go, let it go" stance with regard to this matter. But my position is that I have woken up and smelt the dwarves and I side with those shareholders who are looking for transparency from the company with regard to the full facts concerning this very large sum of money. |
Posted at 28/5/2024 08:38 by judijudi It’s truly appalling how EME has been handled by our management5th rate projects (bar one) losing (ahem) 2 million, all the while treating EME as a lifestyle company Inception 2005 Share price £1.50+ 2024 Share price struggling to hold 0.3 of a single penny And not producing a thimble full What a CV! All in my opinion |
Posted at 24/5/2024 13:58 by georgesorrow I don't think people should be bigging-up an anticipated announcement of an extension. It would be very welcome, it would certainly cheer me up, but realistically it would be a bit of a miracle if TK pulled it off. No-one has ever hinted that extension talks are even taking place.EME announced the last two-year extension on 10 June 2022 with a work obligation to drill an exploration well - not fullfilled. They also had to make a payment to CNOOC upfront of $250,000, which I doubt we have anyway. I think people should be assuming that the only value in EME at the moment is 8.5% of Duyung, which is still a very substantial amount of money. |
Posted at 12/4/2024 16:18 by safiande Coro RNS just out confirming that they are finalising contractual arrangements with a specialist, London-based, E&P financial advisor to assist procuring a debt solution for its element of the required development capital at Mako.Could indicate that they plan to stay in at least partially and maybe just for the first 5 - 7 years when cash flow is at its highest Does not mean that EME plan to do the same as Coro as EME still has Topaz as far as we are aware. Depending on any farm down Coro´s equity is of course higher than EME´s 8.5%. |
Posted at 08/4/2024 15:46 by safiande If EME gives up on Topaz or if CNOOC gives up on EME, then I can imagine that post first production of Mako, EME may consider a divi of sorts.Toon may know more, but at present he is as silent as Tom is on Topaz status. Btw. Who couldn´t use a divi right now? |
Posted at 23/1/2024 12:47 by safiande Jem,You´re right.......again! EME agreed some time ago that CRD would lead on the farm down as it was felt that a bigger combined program sale of say c.50% would attract a better price than 8.5% in isolation. EME has mentioned a few times how satisfied they are with CRD´s handling of the farm down re the data room , the investment bank etc and that they have every confidence in CRD´s ability. " Empyrean has an 8.5% interest in Duyung, containing the Mako gas field, with Conrad holding 76.5% and Coro holding 15%. The deal with Conrad provides that any sale or part sale that is offered to Conrad must be offered to Empyrean pro-rata. It is Empyrean’s opinion that the best deal on the Mako gas field will be obtained by dealing at the 100% level even if it is a partial sale or JV. This is because the project has now grown to a size where likely participants may want a significant stake and/or operatorship. For this reason, it is our opinion that we will get a better result by not dealing piecemeal on our smaller interest alone." ( EME Sep 2020 ) As you mention there is also a formal tri-partite operating agreement in place signed by the three partners whereby each partner has equal rights in the decision making process regardless of individual working interest. "The partners in the Duyung PSC are Conrad Petroleum (76.5%), Coro (15%) and Empyrean Energy (8.5%) which have a joint operating agreement. Coro has a seat on the technical committee and along with Empyrean can veto certain key matters should they wish. These two smaller partners apparently had a large say in the appraisal drilling programme." ( Align Research Jan 2022 ) |
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