Empyrean Energy Share Discussion Threads

[bluehooperman] 18/5/2021 06:46

WiseoneOnce 7p is breached, there's no stopping us from hitting a pound, soon!!!

[wiseone1] 18/5/2021 05:42

i suspect action this morning, once 7p is broken, which i feel will happen, should coast to 10 over the next few days, call it an inkling:)

[hang ten] 17/5/2021 22:41

Let's not forget that stone in our shoe - California! :D

[currypasty] 17/5/2021 22:32

that's more like it.. pound by Xmas?

[craig2016] 17/5/2021 22:19

Yes, share price should currently be 26p, itll probably go to £2.63 or £4.89. and then there's the wee bonus of duyung

[currypasty] 17/5/2021 22:10

any chance of a shorter version?

[thetoonarmy2] 17/5/2021 22:09

Craig a concise summary and a bit better to read and take on board than the longer read of the brokers note for any new investors hopefully helping them to be able to invest in EME Let's hope we can get through 7p tomorrow

[craig2016] 17/5/2021 21:31

I have redone my overview on #EME taking into account the latest brokers note and RNS.
May be of some interest to any new investors.

Empyrean is a London AIM listed oil and gas explorer currently focused on three cornerstone assets, The Duyung PSC offshore Indonesia, Block 29/11 offshore China, and a multi project participating interest in the Sacramento Basin, California.

Mcap currently £32m, shares in issue 489m

Indonesia – EME have an 8.5% share of a gas find offshore Indonesia that has been drilled, proven and is now being prepared for development, Gas Sale Agreement is due to be signed off at any time. EME are expected to get a return of around $35m.

China - Block 29/11 is huge, EME is the operator with 100% exploration rights. In the event of a commercial discovery CNOOC will have a back in right of 51%.

As per 5th May RNS. After extensive review of offset wells in the vicinity Aker have finalised well design and planning for the drilling of the jade prospect, the first of 3 prospects targeting 1 bln bbls. Update due once the drilling rig has been confirmed, drilling campaign expected to commence in November.

What Could China Be Worth?
Cenkos released a broker note on 11th May giving a current valuation (oil in place) of 25.4p for the three prospects.

They give a fully unrisked valuation of £2.63 (on completion of extended well tests)

Valuations are calculated on an average between best (P10) and worst (P90) oil in place estimates, however all but one of the adjacent CNOOC discoveries are “filled to spill”, with in place volumes close to their P10 estimates. Cenkos state that there is a distinct possibility that the Empyrean prospects are in reality closer to the P10 volumes this increases the unrisked valuation to £4.98

Jade is not the largest prospect, however it's by far the easiest / least complex drill hence the reason it's the first target. Exploration by nature is high risk however Jade and Topaz's GCoS (geological chance of success) are amongst the highest of any current prospect globally at 41% and 35%.

The valuations consider CNOOC’s 51% back in right. The Jade drill is expected to cost around 15-20m, so funding will be required, this could be a JV with a big player or some dilution from a capital raise.

it's worth noting that Tom Kelly CEO holds 88m shares, his last purchase was £440k @9p last year pre covid, So it's obviously hugely in his interest to get the best deal possible.

News flow has already increased with more updates due once drill rig and funding are finalised, and the sale of Duyung. Tom has also scheduled some PR in the coming weeks so I'd guess he must have something interesting to say.

This is not an overnight multi-bagger, however the potential here is absolutely staggering even going with the most conservative valuations

[blakieboy7] 17/5/2021 19:12

To infinity and beyond!!

[buzzzzzzzz] 17/5/2021 18:58

Picked up 100k at 6.2 this AM and a further 75k at 6.7 this PM.

[jemjem] 17/5/2021 18:56

Brent oil having another run and taking a peek at $70 again soon.
Don't worry about Podgy. Given his recent alleged naughtiness, he may well have had his electronic devices seized for forensic examination- but he'll find a way back spouting his usual rubbish, when we have a down day.
Imo

[craig2016] 17/5/2021 17:12

excellent day today - EME firmly back on the map.

[digger2779] 17/5/2021 16:39

Been a good day here and I couldn't help but notice an absentee who likes to discuss lol. Let's crack that 7p tomorrow.

[kumala] 17/5/2021 16:33

12% on a day for eme is V.good indeed. Long may it continue....:)K

[kumala] 17/5/2021 16:32

Hi abergele... we have been here a long time like a few others i notice. Interest rates from banks etc have been very low in last few yrs .. im happy to be holding looking forward to a higher share price Over 10p for starter would be nice.... im in another stock that just 6 weeks ago was under 10p now 27p hit 30p last fri. Be good if eme did the same...Cheers. Hope your well.:)K

[abergele] 17/5/2021 16:28

Aye Kumala, a long time back when say £5grand,,could have earned interest,but as more and more we pumped into EME,,interest never became the priority, just an assurance we could at least break even, or come away very comfortable,which now seems a distinct probability,, gl to you, and All.

[abergele] 17/5/2021 16:23

Exciting times ahead,,,best be in than out,,g,l, all..

[hang ten] 17/5/2021 16:12

6.8p payed ... another tick up before close ?

[kumala] 17/5/2021 16:06

Same here bb. I got in about that time and bought many times sitting on a fair amount now, at 50p i would see a profit and have a readonable return but after all these years with what EME has now i dont think its un reasonable to seek a higher end result.GLK

[blakieboy7] 17/5/2021 16:06

It's just ticked up again;)

[master rsi] 17/5/2021 16:06

bid at 6.70p as buyers are about late on the day

[blocker2] 17/5/2021 16:03

Blakie, if an offer came in I bet you would consider it. This is the point though where it is taken out of the pi s hands

[blakieboy7] 17/5/2021 16:00

As someone who's been in since 2008, I'm definitely not selling at 50p if I have the option to do so

[blocker2] 17/5/2021 15:29

Michmcd I think a few would be happy at 50p tbh. Someone might like to make an offer for the lot, who knows....

[blakieboy7] 17/5/2021 15:11

Scaley! :)