Empyrean Energy Share Discussion Threads

[blakieboy7] 11/3/2022 07:56

Let the PR begin!!

[bluehooperman] 11/3/2022 07:54

CNOOC has created a slot for Empyrean to drill the Jade well in it's schedule, immediately following the well currently being drilled using NH9. I like the bit "CNOOG has created a Slot"

[whipsawtom] 11/3/2022 07:54

It’s definitely worth a punt now!!!

[oilforex] 11/3/2022 07:53

OMG,OMG, OMG! It just got real.

[blakieboy7] 11/3/2022 07:49

Empyrean CEO, Tom Kelly, stated:"After nearly 6 years of early stage exploration, including modern 3D seismic and rigorous geological studies we are finally ready to drill the exciting Jade well. We are literally weeks away from testing the 225-395 mmbbl light oil target at Jade. In terms of impact - and by that I mean the potential impact a discovery, within the 225-395 mmbbl range, would have in the success case upon our current market capitalisation - Jade is one of the most exciting wells to be drilled globally in 2022. The challenges that have been overcome in order to get to this stage and be ready to drill are many and this achievement is a credit to Empyrean's small team and a great reflection of the excellent teamwork, expertise, professionalism and cooperation carried out between the Company, its partner CNOOC, and its technical service providers CNOOC EnerTech and COSL. We are particularly appreciative of CNOOC facilitating a rig slot for Empyrean to drill Jade using the NH9 rig. Every effort and precaution is being taken to drill the Jade well safely. We now need to let the drill bit do the talking! We look forward to providing our shareholders with further updates as we get even closer to spudding the exciting Jade well."

[bluehooperman] 11/3/2022 07:49

Empyrean CEO, Tom Kelly, stated:"After nearly 6 years of early stage exploration, including modern 3D seismic and rigorous geological studies we are finally ready to drill the exciting Jade well. We are literally weeks away from testing the 225-395 mmbbl light oil target at Jade. In terms of impact - and by that I mean the potential impact a discovery, within the 225-395 mmbbl range, would have in the success case upon our current market capitalisation - Jade is one of the most exciting wells to be drilled globally in 2022. The challenges that have been overcome in order to get to this stage and be ready to drill are many and this achievement is a credit to Empyrean's small team and a great reflection of the excellent teamwork, expertise, professionalism and cooperation carried out between the Company, its partner CNOOC, and its technical service providers CNOOC EnerTech and COSL. We are particularly appreciative of CNOOC facilitating a rig slot for Empyrean to drill Jade using the NH9 rig. Every effort and precaution is being taken to drill the Jade well safely. We now need to let the drill bit do the talking! We look forward to providing our shareholders with further updates as we get even closer to spudding the exciting Jade well

[blakieboy7] 11/3/2022 07:48

HIGHLIGHTS-- Empyrean has secured the China Oilfield Services Limited ("COSL") owned NH9 drill rig for drilling the Jade well-- NH9 is currently being used to drill a well for China National Offshore Oil Company ("CNOOC")-- COSL will drill the Jade well immediately following completion of operations at the current CNOOC well-- Empyrean anticipates that NH9 will become available by the end of March if the current well does not encounter testable hydrocarbons or approximately 2 weeks later if a testing program is required-- Following a safety inspection, there would be approximately 2 days mobilisation to the Jade well location from the current CNOOC well location-- At this stage Jade will spud early April or mid April depending on results of the current CNOOC well

[mike the golfer] 11/3/2022 07:48

Just what shareholders wanted, a clear and concise timetable of events leading up to drilling. Well done Tom!

[nithbank] 11/3/2022 07:45

We are literally weeks away from testing the 225-395 mmbbl light oil target at Jade. In terms of impact - and by that I mean the potential impact a discovery, within the 225-395 mmbbl range, would have in the success case upon our current market capitalisation - Jade is one of the most exciting wells to be drilled globally in 2022.

[the donald] 11/3/2022 07:45

It's happening!

[bluehooperman] 11/3/2022 07:44

Oh YES :-))

[starzerus] 11/3/2022 02:27

From OE digital

Sorry if it didnt copy correctly.

Empyrean Energy, a company gearing up to start drilling at its Jade prospect, offshore China, said Monday that China Oilfield Services Limited ("COSL") had successfully completed the well site survey required over the Jade Prospect drilling location, and that the company was in further talks to finalize drilling rig availability and an anticipated spud date for the well.

Empyrean is the operator of offshore Block 29/11 in China, containing the Jade prospect, and has 100% working interest during the exploration phase. In the event of a commercial discovery, its partner, China National Offshore Oil Company ("CNOOC"), may assume a 51% participating interest in the development and production phase.

Announcing the completion of the well site survey, Empyrean said:"After a sustained period of unsuitable weather, extremely pleased to confirm that the COSL survey team has taken advantage of a small operable weather window and has successfully completed the well site survey at the Jade Prospect. The survey included a number of gravity samples and an analogue survey over the Jade Prospect drill location and rig anchoring points."

"While the Company awaited suitable weather conditions over the past months the CNOOC EnerTech team has been working efficiently and has secured seven of the eight critical pre-drilling permits. With the completion of the well site survey the Company can now quickly lodge the application for the final permit to drill the Jade Prospect."

Empyrean is now in discussions to confirm a final drill rig slot using the COSL owned NH9 rig that is currently drilling a well for CNOOC in the region and expects to announce the targeted spud date for the Jade Prospect well as soon as these negotiations complete and scheduling becomes clear, the company said.

"Early discussions with both COSL and CNOOC regarding a drilling slot using the NH9 rig, which is currently drilling a well for CNOOC in the region, have been positive and an update on scheduling is expected shortly," Empyrean said.

NH9 (Nanhai 9) is a semi-submersible drilling rig that entered service in 1988. It is capable of drilling in a water depth of up to 5300 feet (1615 meters).

World class prospect

According to Empyrean, the drilling campaign is targeting "a world class" conventional oil target in the Jade Prospect, to which Gaffney Cline & Associates ("GCA") assigned a Geological Chance of Success ("GCoS") of 32%. Subsequent to this independent assessment, Empyrean completed a gas cloud study and post-stack seismic inversion study that it believes further mitigates risk and increases the GCoS to 41%.

The Jade Prospect has a GCA audited mean in place potential of 225 MMbbl and a P10 in place upside of 395 MMbbl. Four recent nearby discoveries by CNOOC immediately to the West of the Jade Prospect are filled to their P10 potential or better. All four CNOOC discoveries have gas clouds showing in the overburden on seismic.

The Jade Prospect is the first of the three identified prospects within Block 29/11, which also contains the Topaz and Pearl prospects. The combined audited mean in place potential of all three prospects is 884 MMbbl and a P10 in place upside of 1,588 MMbbl, Empyrean said

[wcj] 10/3/2022 16:07

Which brokers offer DMA?

[judijudi] 10/3/2022 13:43

GSA on Duyung
Confirmed spud date within this drilling season
Then loads of PR
Would do for starters

[buzzzzzzzz] 10/3/2022 13:42

You are not still banging on why the share price is not rising!!!!!

Just look at the news, people's minds are elsewhere at the moment particularly at the maternity hospital in Mariupol.

Have some compasion and stop worrying about your personal gain at this time.

The share price here will rise in good time.

[lazarus2010] 10/3/2022 13:27

I feel like we have become becalmed and we need a really good wind, not just little breezes, to get us moving. Pity we're not actually sat in the Tropics, well some might be?!

Lots of news was expected to get the share price up but nothing as yet has really worked.

SP rose to 9p ahead of the placement and funding for the rig, which was expected to get us and keep us above 12pps.

News of rig contract was supposed to get the share price up.

news of survey was supposed to get the share price up

news of Duyung drilling results and bigger field size was supposed to get the share price up

news of increased gas prices and therefore an expectation of stonking GSA news was supposed to get the share price up

rumours of shorters closing, and the actual closing if true should have got the share price up

even news of SETS was supposed to get rid of the underhand MMs manipulating the share price which should see a rise...

WTF other than an actual announcement that we have hit oil and tested the flow rates is going to get the share price up??

[jemjem] 10/3/2022 11:06

Apologies if this got posted previously. It was only originally available by subscription, but I just noticed is now available to all. It feels like it is getting bigger and better - but Conrad taking their time to get the best price. It'll be worth waiting for.


Mako offshore project has sharper look in Indonesia
Joint venture aiming for final investment decision later this year or early 2023


The Conrad Petroleum-led joint venture that owns the Mako gas project in the Natuna Sea offshore northern Indonesia is zeroing in on a new development concept as it aims for the final investment decision late this year.

The favoured concept is understood to be a mobile offshore production unit (MOPU), otherwise known as a jack-up production unit, and a 16-kilometre subsea pipeline that will connect to the nearby West Natuna pipeline system, a major third-party owned trunkline.

Jakarta-based market sources said the project is in the pre-front end engineering and design phase, and that a local Indonesian engineering house is performing that work.

Mobile offshore production units are usually upgraded jack-up drilling rigs converted for production through the addition of processing equipment. The advantage is that they can be relocated to another location.

Several companies in Indonesia have the capability to deliver a MOPU, which a joint venture would ordinarily lease from the supplier, said Jakarta sources. Certain contractors have received invitations from Conrad to express their interest in supplying a MOPU.

The previous Mako development concept included an offshore wellhead platform.

A spokesperson for Jakarta-headquartered Conrad confirmed to Upstream that the joint venture is finalising with the Indonesian regulator SKK Migas a revision to the Mako plan of development.

“The precise upstream facility configuration is under active discussion with the regulator with the utilisation of a MOPU being one of the development concepts under consideration,” said the spokesperson

Once the new development plan is finalised, the project is expected to enter into the FEED phase, with the final investment decision expected in late 2022 or early 2023.

A crucial requirement for Mako to proceed to sanction is securing a gas sales agreement, and Conrad is in negotiations with several interested parties, according to joint venture partner Empyrean Energy.

Indonesian partners step up Mako gas drive with key contract in sight
Read more
The field is located near to the West Natuna pipeline system so gas from the field can be marketed to buyers in both Indonesia and Singapore.

Privately-owned Conrad has a 76.5% operated interest in the Mako project and its co-owners are the UK-listed pairing of Coro Energy on 15% and Empyrean on 8.5%.

Consultancy Gaffney Cline & Associates in May 2020 completed an independent resource estimate for Mako in which the contingent recoverable resource estimate was 495 billion cubic feet of dry gas.

The field is located in the shallow-water Duyung production sharing contract, which covers 1100 square kilometres in the West Natuna basin. The Mako shallow gas discovery encountered 23 feet of gas-bearing good quality reservoir quality rock with high permeability sands in the multi-darcy range.

The gas is of a high quality and is close to 100% methane.

[jemjem] 10/3/2022 08:46

Laz. It's operational now.
You still have the original mm's doing their stuff as before - hence the 6.72 bid. But also it's possible for those with DMA to put orders directly onto the book. It's hardly started yet and there are currently only 2 DMA orders in. Once there is news and the trade volume picks up, I suspect you'll see lots of DMA orders.
If you have level 2, have a look at PANR for example. They still have mm's, but the order book is dominated by DMA orders.
Imo

[currypasty] 10/3/2022 08:43

market makers can still undercut the listed price to get the business

[lazarus2010] 10/3/2022 08:34

are we trading via SETS only from this morning, or are we transitioning during the day, presumably all new buys will be via sells but existing trades will be closing via SETSqx?

Just wondering why the bid shows at 6.6 but being offered 6.72 for 50k? Does SETS not mean that the bid price displayed is the price you get?
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...advises that it will transition trading of the Company's shares on AIM from the London Stock Exchange's SETSqx (Stock Exchange Electronic Trading Service: Quotes and Crosses) trading platform to its SETS (Stock Exchange Trading System) platform, effective Thursday 10 March 2022.