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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
|
|
|---|---|---|---|---|
| -0.0125 | -8.93% | 0.1275 | 16:15:34 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.1375 | 0.1275 | 0.1375 | 0.1275 | 0.14 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 17/2/2025 09:53 by blakieboy7 17 February 2025This announcement contains inside information Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas Empyrean Energy PLC ('Empyrean' or 'the Company')Wilson River-1 well update Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in Australia, Indonesia and the United States, has been advised by Chi Oil and Gas Pty Ltd ("Chi Oil"), as operator of the Wilson River -1 well, that the cultural heritage survey has been completed for the drill location. The cultural heritage survey was completed and confirmed that the designated drill location area for the Wilson River-1 well had no cultural heritage features previously registered or identified. Subsequent to the survey being completed, site works to remediate existing access tracks and clear the drilling pad area have commenced. Empyrean CEO, Tom Kelly commented, "With the necessary land access agreement complete and the cultural heritage survey done, we are commencing drill site clearing and preparations are on track for drilling to commence in March, subject only to receipt of final drilling approvals and weather. We look forward to providing further updates as we progress preparations to drill." |
Posted at 10/2/2025 16:00 by bluehooperman For anyone trying to calculate the potential market capital on the two current prospects.Wilson Drill...Low case scenario (8.7MMBOE) - 50% recovery factor/$44.80 gross profit per barrel (based upon Bass Oil Worrior & Padula field - Cooper Basin.NAV - 10 year field span/10% DCF/40% share to EME = $47.9m NAV - £0.0119pMean case scenario - (21.3MMBOE) - 50% recovery factor/$44.80 gross profit per barrel (based upon Bass Oil Worrior & Padula field - Cooper Basin.NAV - 10 year field span/10% DCF/40% share to EME = $92.6m NAV - £0.0231pMako....NPV1 |
Posted at 26/1/2025 13:49 by bitcoin tosser I take it any new bulls or stale bulls will have properly read and understood the interim results from EME (18/12/24), a few snippets copied here:On August 2024 Empyrean has received a letter of demand from CNOOC alleging that Empyrean has outstanding obligations under the PSC. The Company disputes the letter and is endeavouring to settle the matter amicably under the dispute resolution clauses provided for in the PSC. On 24 August 2024, the Company received a letter of demand from CNOOC's lawyers, King Wood & Mallesons, in relation to Block 29/11. The letter of demand alleges, inter alia, that Empyrean has outstanding obligations under the relevant Petroleum Contract entered into with CNOOC and that Empyrean has failed to pay certain amounts that CNOOC consider due and payable under the Petroleum Contract relating to the prospecting fee and exploration work. The Company rejects the outstanding amounts claimed, which total $12m, and has responded to the letter of demand requesting clarification of the basis for the demands made in the letter. At this time, it is too early for the Company to form any opinion on the merits of any demands made therein and the Company intends to continue dialogue with CNOOC and, in line with the provisions of the Petroleum Contract, to settle amicably through consultation any dispute arising in connection with the performance or interpretation of any provision of the Petroleum Contract. However, it is acknowledged that, in the event that the amounts claimed are called, further funding would be required, over and above that required to meet the day to day cash demand of the business for the foreseeable future. However, in order to meet the repayment terms of the Convertible Note (which was renegotiated in 2023), any further commitments at the Mako Gas Field, any potential further costs of cooperation on Block 29/11, any potential amounts payable to CNOOC that may crystalise and working capital requirements the Company is required to raise further funding either through equity or the sale of assets and as at the date of this report the necessary funds are not in place. The Company therefore requires additional funding to fund the ongoing cash needs of the business for the foreseeable future and may require further funding should it be required to settle amounts claimed by CNOOC. The Directors acknowledge that this funding is not guaranteed. These conditions indicate that there is a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern and, therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. Given the above and the Company's proven track record of raising equity funds and advanced Mako sell-down process, which the Directors believe would be sufficient to meet all possible funding needs as set out above, the Directors have therefore concluded that it is appropriate to prepare the Company's financial statements on a going concern basis and they have therefore prepared the financial statements on a going concern basis. My Summary: Anyone buying into EME must realise that Wilson is like a last chance saloon. They need a success or for the sale process to come to a conclusion, OR....there will be another very significant fund raising. The last fund raising was a doubling of shares. Buyer beware. |
Posted at 09/1/2025 13:40 by showme01 If Coro's shareholders own only 6% after debt has been cleared with 15% of Duyung, EME looks hugely undervalued as EME shareholders own it all less paying off a far smaller debt, all be it that EME only owns 8.5% of Duyung and now has a near term drill with a 40% CoS that if successful, would propel EME's value up by £10's of millions on that one commercial success, then there is Duyung. Am I missing something? |
Posted at 18/12/2024 08:01 by mrblobbythe2nd The market is a forward indicator, the stale bulls who operate here look at their losses and blame everyone but themselves, these individuals pressed the BUY button at 1p/2p+ etc.The fall in the stock price of EME over the last 12 months is mainly due to market conditions plain and simple. Worth remembering that the current m/cap of EME is just £2.4m, the Mako stake is worth multiples of that, the upcoming Cooper Basin project could multiply that market value many times also. It is not like EME is selling at a £10m+ m/cap, there is excellent upside potential here for new entrants, that is why Nortrust have built their stake to 6% and could still be adding. Buy low sell the highs. |
Posted at 17/12/2024 12:46 by judijudi FFS Low Sulphur here’s 2 out of your last 4 postsPot Kettle 🐔 lowsulpher1 - 15 Oct 2024 - 09:10:38 - 56107 of 56841 EME - Post Sale of Sugarloaf Asset - EME Hi Neilyb675,these projects are useless.like Tom Kelly and Gaz. lowsulpher1 - 02 Oct 2024 - 12:58:24 - 56009 of 56840 EME - Post Sale of Sugarloaf Asset - EME Hi all if Topaz is gone there is only Duyun left just sell it and pay shareholders a divedent, Tom Kelly is a disgrace as CEO delivered nothing for shareholders only sat back and draw downing his salary himself and Gaz |
Posted at 08/12/2024 14:32 by lipov Development cost of 100% share of Mako is around 322m, cannot remember the exact number. If Eme keeps 4% they have to fund 13m or so. This can be easily funded and paid for from first day of revenue generation, usually up to 50% of net income each year.Wilson will be drilled otherwise placing wouldn’t occur. It is in huge interest for CEO to be drilled. Topaz and Gaz B are hand in hand, they won’t let it go. Gaz B. just has to show Cnooc 12m and will be drilled when weather permits. I believe that will happen if Eme decides to sell Mako down completely. Judijudi how long have you been in oil exploration business as a holder of companies shares? Because you are asking questions or making statement that are a bit unusual. The best you managed to figure out was that nortrust is buying for steady income and dividends. Which just going by reading your posts here on Eme, it was a bit of a ‘shocker’ |
Posted at 08/12/2024 13:18 by lipov Selling 158m will not be a problem when mako farm down occurs and Wilson well is commercial. However I agree that most likely they see high chance of EME being revenue/dividends generating in the future. Eme might well sell only portion of 8.5% and keep the rest for nice income after 2026. I wouldn’t be surprised if Eme only sells portion which would be equivalent in relative terms to Conrad sell down. Conrad will probably want to keep minority stake and Eme too. There is a good upside exploration potential in Duyung asset. Why say no to it?! New Mako developer would want to have certainly above 50% if not much more.Eme and Conrad did similar type of sell transaction to Coro where both of them decided to sell just a portion of Duyung license to Coro. I think Eme did give away 1.5%. So, agree that Nortrust is here because there is high chance Eme will be a good revenue generating company (dividends)and if Wilson comes in, even better. Highly likely after reading Conrad presentation and their rns that sell down will be completed shortly and Fid as well, max end of q1 imo. |
Posted at 15/11/2024 00:55 by odillon Nelly the 8 October 2024 RNS demonstrates how the notification procedure works. As you have quoted it refers to EME having been notified of the Nortrust 58,000,000 shareholding on 7 October 2024.Having been so notified, EME had the legal obligation to publicise all the details of the notification by the end of the next working day. Hence the RNS on 8 October. So on that occasion EME complied with the legal requirement by publicising the full details of the TR-1 form received from Nortrust the day after they received it. At that stage Nortrust were listed as significant shareholders holding 58 million shares on the EME website. They are no longer listed on the EME website. So either that is a mistake or Nortrust have reduced their holding to below 3%. I think it is the latter and that was the reason for the AIM information being updated on the 6th of November. If as I suspect Nortrust have reduced their holding below 3% then it appears that EME have failed in their legal obligation to publicise this. 2 |
Posted at 13/11/2024 15:06 by odillon Isn't it the case that the c note holders have an interest in obtaining the best possible price for Mako as they get 15% of EME's share of it under the agreement? if it is sold cheap then they sell themselves short.As far as I understand it that would be the same claim that they would be making against EME if the company went into administration (along with any unpaid interest). So why sell Mako cheap? As I understand it they would need to work with EME to sell as soon as reasonably possible if Conrad fail to sell EME's share. So that eventuality is connected to Conrad's performance which is out of EME's hands. But again, why sell cheap? The fundraiser is for £1.12m which is well below the extant company liabilities (even without taking the 12m CNOOC claim into account) and is "for the Company's general working capital purposes and, if appropriate, to drill the Wilson prospect" |
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