Empyrean Energy Share Discussion Threads

[judijudi] 02/9/2021 10:20

buffy
I don’t remember ever reading of a 2 well campaign
So calling Tom a liar is not correct
Happy for you to show where he has said a 2 well campaign

[whipsawtom] 02/9/2021 10:19

Helpful, both quotes were from COSL.

[whipsawtom] 02/9/2021 10:17

What’s your agenda here Buffy? Kelly never said that! The work Empyrean has done has clearly identified that success at Jade would de-risk the larger Topaz prospect. So it makes a lot of sense to drill Jade first. If the well is a duster then obviously Duyung would become even more important- either as an asset to sell or develop. But at a better than 1/3 chance of success and the prospect of finding over 395 million barrels of light oil in the country with the most demand for oil - it’s likely that the coming months will see the type of money that likes those odds start to take a look…

[helpfull] 02/9/2021 10:16

A saving of $6,000,000+ on the cost of the rig. Enough to get the juices flowing. I presume like all of us the company got more than one quote. Perhaps $18,500,000 was the highest quote and $12,300,000 the lowest? But if they revealed the lowest quote initially the company wouldn't have been able to make a $6,000,000+ saving. Be careful.

[judijudi] 02/9/2021 10:15

buffy,
Good points

[blakieboy7] 02/9/2021 10:09

I'm sure Malcy will be sharing his views shortly

[jemjem] 02/9/2021 10:02

Excellent news and well done to Gaz in particular. No surprise that he achieved what he said he was going to do.
Key quote from Tom "Locking in rig availability, finalising costs and setting a target spud date were all essential to securing the remaining funds required to drill the Jade Prospect whether that be by JV, warrant exercise or equity raise."
I would expect more news on this front soon - but it doesn't include a fund raise below these levels.
We're going drilling, at last, and in it's simplest form I expect the share price to be much higher on spud than it is today.
Imo.

[buffythebuffoon] 02/9/2021 09:56

“ I'm not saying I want further dilution at these levels but I'm guessing it would be an option,albeit a last resort option.”

The share price was around 25p three years ago. The current market cap is £30.66m

Duyung was going to fund this, but that’s become the black hole that farting around in the States became before it, despite having ‘success’; there. Now the shoestring operation of many many years will likely need to hit the share price further.

Just the one drill then, exposing Kelly’s lie a few years back that we didn’t drill because it was a two well campaign or nothing.

If this one has operational problems or is a duster, then what?

Buffy

[buzzzzzzzz] 02/9/2021 09:13

I am afraid I do not see how PR will move this with the spectre of further fund raising hanging over us.......

That issue needs to be sorted before we will see traction in the share price.

[judijudi] 02/9/2021 09:07

And therein lies the problem
The spectre of a large equity raise is putting people off buying now as they fear it will be at a lower price
imho

Although I personally think now is a good top up price

[lazarus2010] 02/9/2021 09:03

Judi,

as I mentioned in my post yesterday, I'm more comfortable with dilution than selling Duyung to fund the drilling programme. Yes would be great if the warrants can fund the well, but if not then we need c. £9mln, maybe £10mln in addition to the £5mln already raised, so won't be too much dilution and we keep Duyung which is clearly an asset which is increasing in value the closer it gets to a GSA and to production.

aimho
dyor
nai
gla

[judijudi] 02/9/2021 09:02

Surely it’s a better bet as a good top up price now rather than selling

[lazarus2010] 02/9/2021 09:00

and the previous proactive coverage...

[judijudi] 02/9/2021 08:59

Tom never mentions using Duyung in any way for financing the drill


“Locking in rig availability, finalising costs and setting a target spud date were all essential to securing the remaining funds required to drill the Jade Prospect whether that be by JV, warrant exercise or equity raise”

[petercrosby] 02/9/2021 08:58

digger

Don't forget about Sacramento...

[petercrosby] 02/9/2021 08:57

Soggy

Looks like we'll have to take a roll of the dice and wait until target depth...

[digger2779] 02/9/2021 08:55

Crazy reaction to the news. I think Duyung is close to get the share price moving towards the warrant options at 12p. They have a lot of PR to do. Off to the beach to contemplate my navel.

[soggy] 02/9/2021 08:48

This is weird. For how long have we been saying, 'when news of the rig lands the share price will rocket!'? And here we are, only back to the level of a week ago...

Maybe those with the big money are still having breakfast or something.

Now I'm starting to say, 'Ah...but it's when news of Duyung lands the share price will rocket!' and a wee voice inside me starts to whisper 'really...?'

Surely something has got to get the share price roaring away.

Let the good times roll!

[judijudi] 02/9/2021 08:47

I can only presume that folk are selling as they are worried about a massive placing at lower prices 🤷‍a94;️

[bskiny1] 02/9/2021 08:46

SP all over the place what is going on...

[10owen] 02/9/2021 08:41

Like most on here I am pleased to see the rig and testing booked for China but agree with Curry we need an update on Duyung.Lets hope we get that soon as the uncertainty surrounding it and the knock on effect of how we fund the balance of the drilling and testing in China are having a negative effect on the share price.I must agree with other posters though why folks are selling now at this price is very strange.

[lowsulpher1] 02/9/2021 08:39

Well done Tom Kelly and also Gaz Bisth now get the share price moving up wards to 12p

[lowsulpher1] 02/9/2021 08:39

Well done Tom Kelly and also Gaz Bisth now get the share price moving up wards to 12p

[coiin stein] 02/9/2021 08:39

you can buy as many as you want on the BID.
363400 @5.5p ....20K

[starzerus] 02/9/2021 08:37

maybe Colon and HP think it is a good time to short - lol

Duyung news must be close - to confirm finance pathway. then we are all good.