Empyrean Energy Share Discussion Threads

[sharesure] 28/4/2022 11:36

There seems to be a growing list of ‘events’ with EME that should make Tom Kelly very suspicious about what may have been going on. I hope for our sakes that he is up to the task, with his shareholding he should have plenty of motivation. The missing deposit, speed at which each phase of the drilling appeared to happen, the logging whilst drilling decision, to list just a few. Was there a team of independent observers on the drill rig? If there weren’t, why weren’t there?
TK’s gushing praise for all involved before the drilling and during it did seem a little premature. Why did he think that was necessary?

[solarfire73] 28/4/2022 11:18

As everyone else has already expressed , the drilling result was very disappointing. The previous RNS confirming the gas clouds gave further optimism, so my only question is where is the gas coming from? Will the analysis tell us more?

[blueblood] 28/4/2022 11:12

I think P&A and no further SCS development are built in and expected. Can’t see it but any potential future possibilities have been discounted imo

[currypasty] 28/4/2022 11:07

we already know its a P&A
Im holding on for Duyung now, not much else to say really

[scaleyman] 28/4/2022 10:59

Don't overlook the inevitable P&A nosedive coming up!! Even when expected the MMs always do us over.

[ride daice] 28/4/2022 10:54

"We plan to conduct a thorough analysis of well log data before deciding the next step in Block 29/11."

I hope they also plan to conduct a full market debrief so that we can understand why this didn't come in on prognosis.

[helpfull] 28/4/2022 10:47

Don't look a gift horse in the mouth. Sell into the pump and dump. If these people are silly enough they deserve to be left holding the shares.

Be careful.

[blueblood] 28/4/2022 10:46

The $2m fraud doesn't help in raising questions about speed of drill. Just think we need to wait on EMEs take of wireline log analysis.

[the sage] 28/4/2022 10:35

It's a pity that our AGM isn't in the next week or two. I would like to ask some questions about how a 26 day drill was done 10 days early? and, of course, how the hell were some people able to sell the day before a bombshell RNS?
This whole business doesn't inspire me with enough confidence to stick around for any other drills they may intend to attempt. Sell Duyung, pay us off and let us all go on our merry way.

[lazarus2010] 28/4/2022 10:34

Granny, it's what somebody would pay per mmscfg while it's in the ground, and with the production costs, pipelines, wells to be completed, so it's not a case of selling gas into a pipeline, hence the sale price per mmscfg would be much less and dependent to a large extent on the price realised at the end of the pipe. Aimho dyor

[tidy 2] 28/4/2022 10:27

Lambs to the slaughter writing was on the wall yesterday guys. Dont be left carrying the baby.

[grannyboy] 28/4/2022 10:23

"If anybody has knowledge of sale prices for flowing gas"


Just read SOUC results and they state "they average realised natural gas prices of $5.55/mcf" ..

[lazarus2010] 28/4/2022 09:59

Transact...great figures, except for one thing...$3 in the ground, do you have any comparables as a benchmark to give you such a valuation? I did something similar over a wide range of valuations from $1 to $3.50 and tried to find data for the value of gas in the ground but could not find anything.
If anybody else has any knowledge of sale prices for proven flowing gas that would be great (remember we have 3 wells drilled which were flow tested) so it's not a comparison with a non flow tested resource. These are recoverable reserves.

[blueblood] 28/4/2022 09:59

Just starting to correct yesterdays overreaction. Should head back to 4p before news.

[tidy 2] 28/4/2022 09:57

Duster dead cat Bounce. ANGS about to turn the taps on and supply Shell pipelines. Angs have inherited a refinery also maximising profits.

[cashandcard] 28/4/2022 09:42

Laz,Good post. Resource investors should never hold more than they can afford to lose through an exploration result. I've seen results over the years where oil has turned into water and relatively high GCOS came up with nothing. As I said lastweek it was time to take some off the table ahead of s result.Frankly, I have no confidence until the model here changes. It's feast or famine, recipe for equity to become toast overtime.One to watch is souc - production of 2kboepd currently. They are drilling & completing 3 horizontals now which could deliver a substantial uplift to production in the next month. More importantly, if they are successful with these 3, it will lead to a continuous development campaign with 15wells back to back from Q3.Cash

[transact2018] 28/4/2022 09:41

Duyung numbers as per the GCA reports Dec 2020.Low - 384 BCF (net EME 32 BCF)Best - 566 BCF (net EME 48 BCF)High - 766 BCF (net EME 65 BCF)Assuming a $3 per mcf gas sale, which I think is conservative gives us following broad brush NPV. I've assumed 700m shares in issue. Low - 10.8pBest - 16pHigh - 22pIf you apply 50% contingency to the above share price numbers.Low - 5.4pBest - 8pHigh - 11pOilex in India have just entered a gas sale agreement on their Cambay field for $6.32 per mcf. There is no value in the current share price for Duyung.

[blueblood] 28/4/2022 09:07

Is Gaz out of quarantine yet? Want to hear what he's got to say about results and impact on any future prospects?

[grannyboy] 28/4/2022 09:03

Get another drilling company rather then use CNOOC!!.. But obviously that won't be allowed in Chinese waters...

[bskiny1] 28/4/2022 08:49

What should we now expect to be done about Topaz and Pearl...B

[helpfull] 28/4/2022 08:47

Tickety Tock! Information shock!

"26 days" from the people who brought you "Spud on Christmas day" and " 2-4 weeks". Did they also make "Filled to spill" and "888,888,888". All good and sure to have sequels. The morning after the (brutal) morning before. And still they want your money. Random guesses as to the worth of Duyung. Could be worth billions. Or maybe the price at which EME sold 1.5% of Duyung in the past will give a guide to the price at which EME will be willing to sell 8.5% of Duyung in the future.

Be careful.

[t350toad] 28/4/2022 08:41

My buys this morning are all showing as sells

[kumala] 28/4/2022 08:29

Happy days.. my buy yesterday showing a healthy 18% gain against my buy price.... hope others took advantage to reduce avearge .. the 70% drop was way overdone imho and some pull back today was possible, which is in progress..... GL. Aimho if course......:)

[currypasty] 28/4/2022 08:29

"From the spud date, the Jade well is anticipated to take approximately 26 days to drill to Total Depth on a trouble free basis"

spud 11/4 so should have been 7th May

how on earth can it be 10 days earlier than the 'trouble free' estimate?

Surely they knew the type of rock they were going through, being such fantastic geologist ?