Empyrean Energy Share Discussion Threads

[lazarus2010] 24/9/2021 08:39

off topic, TXP back in play, was hammered after finding gas during drilling and not being able to produce any during testing of Chinook, but have just reached TD at Royston well and it could be a monster. Shares up c. 30% this morning. Production testing to start end October. Price has also been hit due to delays putting wells into production (where have we heard that before!?) but the gas hasn't disappeared, and they will hopefully start first gas well production of c. 10mmscfpd by year end.

Seriously expecting this to 5-10 bag in the next 2-3 years as wells come on stream and they have further success with the drill bit!

NIAI, DYOR, GLA

[currypasty] 24/9/2021 08:02

was coro chat pulled as they thought they would have something to say on Duyung, but its not quite there yet ?

[buzzzzzzzz] 24/9/2021 07:52

I expect you are right I was taking 3 months from the the release date of the RNS.

Anyway time for a rabbit!

[currypasty] 24/9/2021 07:50

I thought id seen 22nd?

[buzzzzzzzz] 24/9/2021 07:41

The deadline for the conversion of the warrant to qualify for the super warrants expires on 9th Oct....15 days.

Cutting it a bit fine, perhaps they will extend the date?

[jemjem] 24/9/2021 06:41

Brent $77 and rising. Goldman Sachs looking for $80-90 in short order.The noise of knocking at Tom's front door for a JV, is getting louder.Imo

[hang ten] 23/9/2021 22:25

Starz..... stop ramping Mallorca!!!!!!! :D

[starzerus] 23/9/2021 19:19

Hi Saf - lets hope so - we all want and need this GSA news asap.

I am having a lovely time in Mallorca thanks.

We did buy a car yesterday too - which luckily I did not have to fund.

[safiande] 23/9/2021 16:08

digger,

Coro has a number of renewable projects to talk about so the cancelation may not be Duyung related.

In his recent Share Talk interview, Tom stated that breakthrough news on Mako could come at any time and that Conrad has been ticking all of the boxes to get the field into production. Also he confirmed that the NPV to EME for Mako has increased
" substantially " since the start of Covid.
He used the term " breakthrough" twice which I find intriguing. Perhaps he is referring to a breakthrough with Medco, allowing the GSAs to be concluded & signed?

[digger2779] 23/9/2021 15:25

Saf - I was scratching my head wondering why I had a reminder about the webinar. So is it a good or bad thing CORO not presenting? Maybe just maybe news on Duyung is closer than we think? Hope so.

[safiande] 23/9/2021 14:48

Coro no longer listed as a speaker so I assume that they have withdrawn this evening.

"Watch presentations from Coro Energy, Supply@ME, Ananda Developments & Woodbois. ... Proactive Events. One2One Virtual Forum - Thursday 23rd September 2021"

[scaleyman] 23/9/2021 14:00

11,155 km square area. Can't find any map presentations yet.

[lazarus2010] 23/9/2021 13:59

some reference to Kerisi and Belenak, both shown on the EME slides

[lazarus2010] 23/9/2021 13:52

Medco & South Natuna Sea



[...]


Difficult to find much, their own website doesn't give out very much and a lof of the articles out there are subscription only!

[lazarus2010] 23/9/2021 13:37

aha, see it now, but that slide doesn't show the extent of the Mako and Medco fields. so it's not exactly clear where they meet. assuming the blue/white dot to the right of 'Medco' is their well and pipeline, then it's somewhere between this white dot and our red dot, which would extend the western edge of Mako by maybe 10-20km?

[scaleyman] 23/9/2021 13:15

Laz look at todays presentation on website, Medco shown on there.

[lazarus2010] 23/9/2021 12:58

Saf / anybody - re "What is also very interesting is the statement made to the Indonesian media recently by the regulator MIGAS that Medco Energi is seeking a B2B agreement with Conrad as the field extends to Medco´s working interest. This suggests that Mako is even more extensive than previously considered. Conrad has already confirmed that the gas field is one continuous single tank of natural gas."

and the EME presentation slide 13 showing the extent of the Conrad Mako gas field (47kmx16km)...

is there any indication as to how far away is the Medco field to which they are referring?

Getting interesting...

[currypasty] 23/9/2021 11:41

I think it will need a JV RNS

[judijudi] 23/9/2021 11:19

62 million options still due to be taken up from 7.5p to 12p

[blueblood] 23/9/2021 10:45

Thanks Saf but did hope EME could at least confirm that by RNS! Anyway not long to wait now what's 3 months after 14 years lol!

[safiande] 23/9/2021 10:42

bb,

Re post 40777.

The statement from the Indo regulator in at least 3 different media outlets is that the upgraded resource POD has been approved, but not yet executed pending clarification / agreement of any B2B between Medco & Conrad. Also a FSA for the use of the main pipeline to Jakarta & Sembcorp Singapore e.g. tarifs is still outstanding. The latter is probably more straightforward but still needs to be agreed to cover the increased amount of gas to be shipped. Therefore I am quite sure that there is no way that Conrad will sign any GSA covering possibly a 20 year period until there two important milestones are agreed. Furthermore you can note the dotted line in EME´s presentation from the Mako field to the main pipeline WNTS, which could indicate that Conrad has made the decision to build a new supplementary pipeline to the WNTS, rather than use the extant Karisi platform, which is only 16km to the south. Previously Coro ( Eliet ) stated that the Karisi platform is unlikely to be robust enough to process the copious amounts of Mako gas.
In his last presentation, Mark Hood Coro CEO mentioned that Conrad is targeting GSA signature by year end. EDIT See post below on Proactive webinar this evening.

[nametrade] 23/9/2021 10:37

Laz, that’s all fair enough but there is nothing concrete laid out for all to see regarding the funding of drilling. When this is clear, then we can move. People sitting on their hands and will decide once this is crystal. IMO

[blueblood] 23/9/2021 10:34

The problem is the wider market needs to know about the potential at Duyung not just hard core of current investors! Funding for China will be the catalyst for big move up into spud and hopefully will be finalised in October

[michmcd] 23/9/2021 10:33

Has anyone actually been able to attend today? Why these things cant be streamed live on a zoom or teams event baffles me.

[lazarus2010] 23/9/2021 10:13

Obviously those sellers don't read this bb! If they stopped to think of the potential future value of Duyung I'm sure they would hold back with their sells. If Conrad's belief of this being one massive gas field are correct, and we join up with our neighbour, surely this would double the gas in place figures, then there are the deeper Muda plays, could double again. At a conservative 3pps for the exiting estimate, this could easily be worth 12pps before it starts production, and then the value will increase even more! 2-3 years to put into production and at relatively minimal cost if Conrad go down the leasing route as mentioned previously by Saf.

Saf - I have to say now that you seem to have stopped the personal jibes at other posters your posts and the information contained therein are most welcome! Keep up the great work!