Empyrean Energy Share Discussion Threads

[lazarus2010] 16/5/2022 10:28

Had we known about this fault, which should have been evident from all the seismic work, I might have bailed pre-drill. Many many moons ago I discussed the drilling of an offshore well by XTR who were drilling offshore Norway. We analysed the data and came to the conclusion that the fault had occurred prior to the kitchen developing and any possible migration. I exited XTR, the well was a duster.

XTR changed track, went more into minerals, and are now in my watching portfolio as up 1300%, I never reinvested :-(

[judijudi] 16/5/2022 09:57

I’m no Mr Hindsight
I said at the time we shouldn’t ever have gone it alone at Jade
All water under the bridge now though
It’s how he handles the dire situation we are currently in that matters

[buzzzzzzzz] 16/5/2022 09:42

So many Captain Hindsights on here today!!!!!

JJ

You will just have to wait for events to unfold.

GSA not too far away hopefully and when EME know what the terms are then TK will hopefully be able to make a plan.

Until then not a lot going to happen.

But no doubt all the Captain Hindsights will continue to tell TK what he should have done!

[helpfull] 16/5/2022 09:16

Out with the old, in with the new!

Remember the tag line?:

"All nearby CNOOC Oil discoveries show similar well-defined gas clouds in overburden whereas dry wells do not have gas clouds in overburden (RNS dated 15 May 2019)"

It has now been replaced with a new version:

"All successful wells have been drilled on traps that were in place at the time of oil migration (RNS dated 10 May 2022)"

The first was proven incorrect by Jade. The second has to be proven correct by Topaz. As for Jade the sample size is small. For the record the RNS dated 10 May 2022 goes on to say:

"thermal maturity modelling completed by CNOOC indicates the Baiyun Sag North has been generating and expulsing oil around 5 million years ago when the Topaz prospect was optimally located to receive oil charge"

Modelling. Topaz has been "modelled". Therein lies the risk.

Be careful.

[judijudi] 16/5/2022 08:49

Buzzzzzzzz16 May '22 - 08:26 - 48608 of 48614

I was in a conference call with my brokers office and TK regarding the placing.

It was obvious that there were two aspects that TK was fully committed to.
One was to drill Topaz and he and CNOC were extremely excited by the recent work carried out using the recent info from Jade.
Second that he had 88m reasons to maximise Duyung and he did not want to be left with nothing if Topaz was a duster.

So JJ stop fretting.

Buzzz,
With all due respect I have no idea if you did or you did not have a conference call with TK
But the bottom line is it’s up to TK to tell us what his plans are
Not an anonymous poster on a free BB
imho

[10owen] 16/5/2022 08:47

What we want Buzz is Tom to show us he possesses common sense. There was no plan B in place for a Jade duster so it's not unreasonable to understand the what ifs around Topaz.You and others that were involved in the placing may feel you have more info than the rest of us which provides you with a comfort blanket but I for one dont.

As I have said before I look forward to details of the Jade review and justification for Topaz.I think there are quite a few of us on here who want Topaz drilled if the rationale holds up but we want it de risked.Thats not fretting it's being sensible after what happened with Jade.If it is as good as you seem to feel from your discussions it should be easy for TK to get a third party to invest.That being the case a distribution of some of the Duyung cash if and when we get it should not be a problem and would demonstrate TK is taking note of shareholders expectations.

[birotop] 16/5/2022 08:36

Yes and people think that because Ned has 89 million shares he must know what he is doing, that success is a shoe in, then think again.

[buzzzzzzzz] 16/5/2022 08:33

Biro

That's oil and gas exploration for you....if you can't stand the heat....


JJ is concerned about what's happening now!

[judijudi] 16/5/2022 08:33

biro,
Absolutely
He also had 89,000,000 reasons pre Jade to to de risk by farming out
But for whatever reason he didn’t or maybe he couldn’t

[birotop] 16/5/2022 08:29

Stop fretting ..12p down to 1.5p, what’s to fret about…

[buzzzzzzzz] 16/5/2022 08:26

I was in a conference call with my brokers office and TK regarding the placing.

It was obvious that there were two aspects that TK was fully committed to.
One was to drill Topaz and he and CNOC were extremely excited by the recent work carried out using the recent info from Jade.
Second that he had 88m reasons to maximise Duyung and he did not want to be left with nothing if Topaz was a duster.

So JJ stop fretting.

[judijudi] 16/5/2022 08:17

Even Tom with his “oil explorer” ego must surely see sense this time?
imho

[michmcd] 16/5/2022 07:51

Want more than a chuffin penny after all this

[lowsulpher1] 15/5/2022 18:16

Hi All i agree with Judijudi farm out Topaz and pay all long suffering shareholders a divedent 6p after the sale of DUYUNG.

[blakieboy7] 15/5/2022 18:10

Mark having thoroughly read the recent RNS statements, it's crystal clear that there is no guarantee of oil at Topaz. We simply can't risk everything and go it alone

[judijudi] 15/5/2022 17:51

mark
I’ve no need to read anything else
I know exactly where we stand!

[michmcd] 15/5/2022 17:41

Difficult to disagree. I'd settle for giving away 24% of Topaz now for a free carry all the way to drill AND meaning a full sale of our 8.5pc share of Indo - returned to shareholders which could be 4p to 6p depending on which valuation method you choose - I see it around 5.5p myself

[mark of the rushes] 15/5/2022 17:38

It sounds like a few of you need to go back and read again the explanations about Jade gas clouds and the potential source of oil migration for Topaz as opposed to Jade. it's all been covered.

[blakieboy7] 15/5/2022 16:48

Bloody hope so!!

[judijudi] 15/5/2022 16:21

blakie,
Surely he has to realise this?

[blakieboy7] 15/5/2022 16:18

Agreed JJ. Better to walk away with something than end up with 88 million worthless shares