Empyrean Energy Share Discussion Threads

[the donald] 26/5/2022 08:04

I don't think you can insure against fraud. If they can recover the money by legal means (ie, it is still in the bank account or a related bank account ), that is the first route. If it is banking error, EME will have to prove that and take a case against them. If there is no form of recourse, I suspect it has been lost at least in part. Buzzzzzz does say ' some money'. Any idea how much? Either way, it could go on for a long time imo. I'll certainly look to buy back in once there is a clear acceptable route to drilling Topaz. A pure free carry JV at least protects Duyung and ideally, if Topaz is a success, it could give EME the option stick with Duyung through to development depending on when those commitments were needed.

[10owen] 26/5/2022 07:49

Thanks again Buzz.Final question does he see the fraud as an Eme liability and were we insured against it happening.

[buzzzzzzzz] 26/5/2022 07:45

Owen

I did not ask that question on the % of farm out.

He wants to keep Duyung in the short term as he wants to maximise it's value.

I think first he wants to drill Topaz as he is pretty certain CNOC will drill Topaz after what they have learned from Jade and it's his worst nightmare if EME give the lease up and then CNOC hit oil.

If Topaz is a duster he might well call it a day and sell Duyung and distribute.

Going forward if EME announces it will go for Topaz and does a good farm coupled with a good GSA when/if the market recovers then share price will make a good recovery.

Also I did ask about the fraud, apparently there is some money in the frozen account but the legal process is slow and is taking time. I asked him if there was any action they could take against the bank for allowing fraudsters to use an account and he did not rule it out.


I do sympathise with LTH's however EME is your hotel californina, you can check out anytime but you can never leave!!!


I checked in last July, not so easy checking out. LOL

[stewart4990] 26/5/2022 07:43

EME need to make a decision to commit to drill Topaz by 12 June they stated their final analysis by end of May or thereabouts, so we should have an RNS by next Tuesday then, hopefully tomorrow, Tom needs a very large rabbit pulled out of a hat this time particularly with the current share price.Duyung the obvious one but yet again we wait for Conrad.Let's see, yet again eme take their expected dates to the last minute with info.

[10owen] 25/5/2022 18:11

Thanks Buzz.No thoughts of a distribution then.Any indication of how much he wanted to farm out and whether hes looking at keeping a stake in Duyung as the fallback if topaz were to be another Jade.If hes not going to distribute any cash then we need to understand what value would be left if the worst happened.

[buzzzzzzzz] 25/5/2022 17:33

10owen

From my notes he wants to drill Topaz, maybe a farm out and use Duyung as leverage.

He thinks Duyung will be worth a lot of money and would like to maximise it if possible.

So potentially a farm out and some debt secured on Duyung.


GSA will be key, a good one gives more options.

[solarfire73] 25/5/2022 17:04

Thanks for your answers guys. Very interesting, especially the shareholder pressure action.

Of course we will need a valuation on Duyung to get a fuller picture. We have to remain patient, but lowsulpher1 gets a thumbs up from me.

[mhfrancis] 25/5/2022 16:16

Peter stranger things have happened it would some turn up, expecting some good news soon GLA

[wcj] 25/5/2022 15:42

Lots of tired shareholders took the money and ran, and sold their remaining shares since they were now worth very little. Others took the money and bought up those shares (and did well out of it). But the end result was that a situation where the share price had been held back by a lot of stale and dissatisfied shareholders was turned into a situation where the remaining shareholders were keen holders and the share price strengthened quite quickly. So a capital distribution could be a positive move.

[judijudi] 25/5/2022 15:40

Best thing he’s ever done for shareholders imho and he was forced to do that

[mark of the rushes] 25/5/2022 15:14

Solar, Eme sold the Sugarloaf asset in Texas and under strong pressure from shareholders reluctantly paid out a "return of capital" of 7.9p a share. TK would have preferred to use the money to fund future projects but instead bowed to the pressure.

[lowsulpher1] 25/5/2022 14:24

Come on Conrad give us a update on the GSA when will it be singed off and announced so EME can announce it to the market, or can conrad tell shareholders what value EME stake is now that natural gas is over $9 right now come on conrad give us an update at where its at.

[petercrosby] 25/5/2022 12:42

Jamesie

Maybe they are looking for the oil that was supposed to be at Jade!

[petercrosby] 25/5/2022 12:41

Solafire73

It was a capital distribution - apparently this is different to a divy and is more tax efficient

[judijudi] 25/5/2022 12:02

Looking strong 😩🙈🤦🏻

[jamesiebabie] 25/5/2022 11:17

FYI - there does appear to be a new drill south of Jade. If CNOOC will share their data, then it may help with Topaz.

It is relatively close.

Interesting.

[hang ten] 25/5/2022 11:03

Well solar good points ! The best interests of this particular shareholder would indeed be 'my' personal operational funding. I invest for a return ; ) But yes I get your point and obviously the mechanism to make it happen 'or not' would have to be demonstrated. Agreement across the board outside of TKs holding would be desirable and hopefully facilitated.

[solarfire73] 25/5/2022 10:38

Hang ten, a dividend would of course be nice. The CEO would need to explain how that would be in the best intetests of all shareholders. That would depend on a number of factors, operational funding being the most obvious. Can anyone shed light on how the previous dividend (sugarloaf) came about? I don't usually associate AIM companies with dividends.Also does anyone know how much cash the CEO has invested into the business?

[10owen] 25/5/2022 10:00

He sure has Blakie.But that's what hes paid to do isnt it.

[helpfull] 25/5/2022 09:56

It says the study will be completed by the end of May. It doesn't say there will be an investor update. It says it will use the study result to make a decision about Topaz (presumably before 12 June 2022). Of which I'm sure he will then inform investors.

Be careful.

[blakieboy7] 25/5/2022 09:52

He's got a lot of work to do then Owen!!

[10owen] 25/5/2022 09:48

Cheers.Pleased it wasn't a senior moment.Only 4 trading days and we may get to see the master plan.Lets hope it includes how he intends to repair shareholder value and confidence.

[judijudi] 25/5/2022 09:36

10owen

I’ve amended to show that yes he did state around the end of May

[10owen] 25/5/2022 09:29

Thanks Judi.