Empyrean Energy Share Discussion Threads

[bushman1] 23/7/2022 18:55

Buzz, I note 'georgesorrow's - many thanks - very informative post on this topic posted here a few weeks ago :

'' Like most here I have started to fret about the loan note holder (LNH) redeeming the loan note immediately after 31 July if a binding GSA has not been signed. At that point the value of the convertible note would be £2.67m.

But it is not a foregone conclusion that the LNH will want to do this. The LNH had the right to redeem the note within five days of the Jade well announcement, when its value was £2.2m, but chose not to and restructured instead.

The face value of the note is £3.3m at the moment. If the GSA is not signed by 31 July and the LNH chooses to redeem shortly afterwards, the face value falls to £2.67m as stated in the RNS dated 10/5/22, so the LNH appears to be taking an instant £630k hit by opting to redeem.

If the LNH has confidence the GSA will be signed in the near future, it could choose to sit tight, and so EME's short-term financinng problems recede.

The wording of the RNS is actually pretty inadequate in that it only describes two scenarios, when there are clearly many others. It says:

"If a binding GSA is not entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022, the Lender may redeem the Convertible Note at any time thereafter, in which circumstances the face value of the Convertible Note will be reduced to GBP2.67 million;"

This can be read as EME being rewarded for lateness in the GSA being signed to the tune of £630k, irrespective of when the LNH chooses to redeem thereafter ("at any time thereafter"), i.e. before or after the GSA is eventually signed. I can't imagine this is the case.

The RNS also says:
"If a binding GSA is entered into with regard to the Mako Gas Discovery in Indonesia on or before 31 July 2022, the Lender will not redeem the Convertible Note prior to 1 December 2022, with interest accruing thereafter at a rate of GBP330,000 per calendar month;"

Taken literally this means that we only have to worry about £330k/month interest from December if the GSA is signed in July, and that if the deadline is missed and Duyung has not been sold then none of this applies. Again, I can't imagine this is the case.

The wording is clearly inadequate. If the GSA is signed in say September and the LNH chooses not to redeem in advance of a sale of Duyung, is the value of the loan note £3.3m or £2.67m? And does the interest kick in from December or not?

Anyway, my take from revisiting the RNS is that it is not a foregone conclusion that the LNH will choose to redeem shortly after the 31 July deadline.

The option is there, but the LNH may prefer to sit tight meaning that a cash call/placement is not necessary. But I would be resassured by a more comprehensive statement on the debt restructuring that covers all scenarios.

The more you look at the wording of the RNS, the more confusing it becomes. ''

[buzzzzzzzz] 23/7/2022 11:27

Sue

Correct the longer EME hold the more valuable it will get.

They do not need to merge to progress Duyung, I believe work has already started on the FID and CORO have already committed cash to their share of the cost of the FID and also long lead items that need to be ordered now for gas production in 2025.

[sue999] 23/7/2022 09:36

One important point is that Conrad Energy which is a private Ltd company plans to go public in 2022. The IPO will be for the Australia, and before they do this they need to give a realistic valuation of the Duyung which they own 76.5%. This can be done before the end of the year?! The value of EME's 8.5% could be higher than estimated after the IPO. The longer EME can sit on the asset, the better value can be released.
Conrad aims to start Feed work on the development plan and that would also increase the value of the asset. Can the three companies merge. Coro, Eme and Conrad and develop the asset.

[buzzzzzzzz] 23/7/2022 08:03

Bushy

I concur, TK will have to update re CLN

Looking for some positives here, hopefully the recent share activity might indicate there has been an element of renegotiation with holders.

I really don't expect any news on the GSA next week but it would be glorious if it finally was announced.

[bushman1] 22/7/2022 21:23

CORO. Over 14,000,000 BUYS today. CORO / EME update next week perhaps or on Monday 01st August .... 5 trading days only before Sunday 31 st July deadline.

[digger2779] 22/7/2022 15:20

Curry - 1.3882 to buy and 1.3101 to sell.

[currypasty] 22/7/2022 13:57

is 1.38 buys?

[petercrosby] 22/7/2022 13:53

Oops wrong thread sorry

[petercrosby] 22/7/2022 13:52

I think it just has more to do with the mountains of cash rolling in from Italian gas...

[simonsmithiv] 22/7/2022 12:45

Indeed it is creeping up either in expectation of news or to fill a large buy order imho.

[bushman1] 22/7/2022 10:45

CORO 6,300,000 BUYS so far today

[sue999] 22/7/2022 09:49

Today, This lot says BUY. Which is not a reliable site



Some news is coming, but no one knows if it is good or bad. In the absence of big buys or sells, we are at a neutral state.

[wcj] 21/7/2022 10:19

sue999

You have to be careful with statistics - 99.9% of the population has more than the average number of legs.

[nametrade] 21/7/2022 10:14

Posting twenty to the dozen on shares he/she thinks are rubbish...no agenda there is there...

[simonsmithiv] 21/7/2022 09:59

You sound desperate unHelpfull

[helpfull] 21/7/2022 09:50

And yet you post such trash in desperation to get the mug punter involved. Shouldn't you stick to investing in a company only when someone tells you not to invest in it?

Just less than 10 days and not counting.

Be careful.

[sue999] 21/7/2022 09:46

Moving average calculations is just statistics. Applicable to anything. You can calculate if your heart rate is above 50 day moving average..

[coiin stein] 21/7/2022 09:29

𝐭𝐡𝐞 𝐭𝐞𝐜𝐡9847;𝐢Ү36;𝐚𝐥; 𝐚𝐧𝐚𝐥9858;𝐬Ү42;𝐬 𝐮𝐬𝐞𝐝 𝐛𝐲 𝐮𝐤.𝐢𝐧
19855;𝐞w852;𝐭⻐2;𝐧𝐠.𝐜𝐨𝐦, 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐚𝐩𝐩𝐥9858; 𝐭𝐨 𝐀𝐈𝐌

𝐒𝐓𝐀𝐘 𝐀𝐋𝐄𝐑9827;

[helpfull] 21/7/2022 09:12

Yes, it is amazingly valid.

The trick is to jump in and buy the shares before whoever wrote that information does. When they plug it in this morning it surely will.

10 days and not counting.

Be careful.

[sue999] 21/7/2022 08:50

I don't know if this technical analysis is valid or not:
hxxps://uk.investing.com/equities/empyrean-energy-technical

Summary:Strong Buy
Moving Averages:Strong BuyBuy (12)Sell (0)
Technical Indicators:Strong BuyBuy (7)Sell (2)
Pivot PointsJul 21, 2022 07:12 GMT
Name S3 S2 S1 Pivot Points R1 R2 R3
Classic 1.12 1.14 1.19 1.21 1.26 1.28 1.33
Fibonacci 1.14 1.17 1.18 1.21 1.24 1.25 1.28
Camarilla 1.21 1.22 1.22 1.21 1.24 1.24 1.25
Woodie's 1.12 1.14 1.19 1.21 1.26 1.28 1.33
DeMark's - - 1.19 1.21 1.27

[solarfire73] 20/7/2022 13:16

Yes that's true buzzzz

[buzzzzzzzz] 20/7/2022 13:02

Solarfire

If they are negotiating farm in or renegotiating with the CLN holders they will not be able to buy!!!!!

[solarfire73] 20/7/2022 10:43

Hi Digger, I am not pinning any hopes on Sacramento.
I wonder what the Company are doing at the moment? It's certainly not updating their website.
Mark Hood of CORO bought shares last week. I wonder why EME's board are not demonstrating confidence in our assets. The volume has completely fallen off, as has the communication.

[nametrade] 20/7/2022 10:21

A fart in a hole !

[blakieboy7] 20/7/2022 10:20

And one gigantic tool - GJ