Empyrean Energy Share Discussion Threads

[lazarus2010] 26/9/2022 17:29

Not sure how Baldrick can include these comments within the Annual Report when clearly he failed to follow any of them!

No risk analysis carried out prior to sending $2mln dollars to a fake account, or if there was a risk analysis they forgot to complete the end box for reduce/eliminate the risk with 'send $1 first to check it is received'.

Ditto for 'risk of no oil'...he clearly forgot to fill in the risk reduction box with 'farm-out to and get a free carry from some other mug company that can afford to take the hit'.

Clearly all just hollow words, copied and pasted from another company!!

aimho of course

----------------------------------------------------------------------------------

Consequences of Decisions

The Company has an obligation to its shareholders to grow and develop the Company in a manner that will
provide value enhancement to their investment whilst at the same time minimising risk. The Directors rely on
the feedback from management who have direct interaction with the shareholders on a regular basis to provide
a balanced assessment of the likely views of shareholders to the strategic and business decisions that the Directors make...

IMHO there have been zero consequences of decisions in as far as no members of the EME team have been removed from office or have suffered financial penalties, notwithstanding Tom's £8.888888mln turning into £800k!!

Strategy
The Company’s goal is to maximise value for shareholders. Empyrean will allocate its resources appropriately
given the risk versus reward profile of our projects in order to achieve its goal. Risk assessment and evaluation
is an essential part of the Company’s planning and an important aspect of the Company’s internal control system.
These risks are first rigorously assessed at a technical level before the Company takes on a project and then
diligently managed by the Company throughout the project timeline. The principal risks and uncertainties are
considered to be the following:

[stewart4990] 26/9/2022 16:16

Hi Safi,

That's great fully understand, many thanks, I'll add a few as I am comfortable with that, just read todays report seems ok based on what we were already told, need to get the GSA out.

A huge mess with the transfer of funds, cost us $2M through a basic error, oh and nothing about a reduction in salaries which was disappointing.

Jade was always a risk as will Topaz, the key though is sorting funding with those CLN's and funding Topaz, GSA I assume.

[judijudi] 26/9/2022 16:00

Laz,
I wasn’t being negative
I simply stated a fact that oil and gas prices are falling sharply and have been for a good number of months
Facts are not negativity they are reality
imho
And just what have we got here to be positive about anyway?
Not a great deal from where I’m sat

[safiande] 26/9/2022 15:21

"I saw Safi post but sorry mate I could not really follow the valuation, can you help or anyone else."

Stew,

The post covered the NPV 10 valuation i.e. using a 10% forward discount rate, in the recent GCA report dated 26 Aug 2022 which is enclosed to Conrad´s prospectus. The valuation best case ( mid ) is $578m post tax which is $49m net to EME. So say $50m net to EME. These valuations are usually conservative. Therefore as mentioned in the earlier post 50143 the valuation could ultimately increase as from say FID ( mid 2023 ) based on a transition from best to high case, increased well production & sales from 120mmscf/d to 150mmscf/d related to well performance, PSC extended from 2037 to 2054, additional exploration potential below the current shallow discovery etc. It assumes that 88% of the gross field volumes lies within the PSC.
The GCA report mentions that Conrad is discussing two alternative potential gas sales to Singapore, both of which have reached closing stages of negotiations. This was a month ago today so I am sure that Conrad hope that the GSA(s) can be signed during the first half of Oct. The prospectus closes on 14 Oct and I believe that someone mentioned that listing is on 21 Oct.

[blakieboy7] 26/9/2022 15:18

Ah Jimmy Carr is in the room! You could at least say something original

[roundtheworld] 26/9/2022 14:57

I was called condescending recently which was utter rubbish!!

For the those who don’t know ‘condescending’ means talking down to someone.

[lazarus2010] 26/9/2022 14:04

JJ, it wasn't antagonistic, possibly patronising in that I provided you with an example of both, however it was meant to be irony, and there I go again, being patronising by explaining the sub-context of the post...;-)

Just chill and stop being so bloody negative!!

[judijudi] 26/9/2022 13:12

Ey up Buzzz
Sticking your Oar in where it’s not wanted
Super effort
Well played
👏👏🤣😂

[odillon] 26/9/2022 13:03

Thanks Curry P - good to know it is getting done.

[currypasty] 26/9/2022 12:41

Empyrean Energy PLC (EME: AIM) announces that a General Meeting ('GM') will be held at Cenkos Securities, 6.7.8 Tokenhouse Yard, London EC2R 7AS at 10.00 a.m. on 19 October 2022.

On 16 September 2022, the Company announced the final results for the year ended 31 March 2022 and that the full Report and Accounts are available on the Company's Website ('Annual Report and Accounts'). As announced on 2 September 2022, the Company was unable to publish the 2022 Annual Report and Accounts together with the Notice of Annual General Meeting.

[judijudi] 26/9/2022 12:28

I think your last post has proven my point about your antagonising and patronising posts better than my command of the English language ever could 🤣😂👏👏8077;👌ԅ14;🤣

[lazarus2010] 26/9/2022 12:11

JJ...wtf? I've pointed out factually that you are looking at these graphs from your typical 'the world is ending' viewpoint!

ALL prices are up yoy.

The PoO is not dropping like a stone, for a graph of something dropping like a stone, look at the top of this page!!

And how is 'Maybe look at the big picture, not the little one?' patronising or any of the above antagonistic?

Patronising would be congratulating you on a) being able to read a graph (although incorrectly) and b) on spelling antagonistic, although clearly you don't know the meaning of the word!

ps a vast majority of your replies to posters are 'antagonistic and patronising' ;-) so touche (where is that acute accent when you need one!!)

[judijudi] 26/9/2022 11:02

Maybe you stop being antagonistic and patronising?

[lazarus2010] 26/9/2022 10:40

agreed, every graph tells a story, every price is higher than 12 months ago. US gas still higher than 3 months ago. Go figure!

Saudi recently made a small cut in production of c. 100,000bopd, they have no intention of producing more than the market can absorb and are in a mood to defend PoO as best they can.

They have issued statements basically saying that there is a disconnect between the current prices and the actual supply, and this is being driven by market makers and their scaremongering.

The Duyung deal has a benchmark of $80/bbl Brent, which is currently at $85.

Maybe look at the big picture, not the little one?

[judijudi] 26/9/2022 10:25

Laz,
🤦🏻🤷‍♂;️🙈
No need

The graphs above tell the price story better than any post

[lazarus2010] 26/9/2022 10:10

JJ, take your doom tinted glasses off...

WTI down 0.5% today
Brent down 0.27%

Gas might be down, however historic average over last 5 years for TTF is about EUR17/MWhrs...it's currently at EUR170/MWhr, so it might be falling, but it's coming off a very high peak! Also the drop in prices is good for the global economy. If it translates into lower inflation, the despots in the Fed and BoE might reign in their interest rises which are one of the main factors that is pushing us into a global recession! Their fixation on inflation using a mechanism which destroys economies is like taking the proverbial sledgehammer to crack a nut!

Crude Oil
USD/Bbl
78.335 0.405 -0.51% -8.49% -18.80% 3.53% 10:06
Brent
USD/Bbl
85.918 0.232 -0.27% -7.17% -17.02% 7.39%

[judijudi] 26/9/2022 09:13

curry,
Oil and Gas prices are falling like a stone

[lazarus2010] 26/9/2022 08:37

Curry, JB posts it daily on Telegram

[soggy] 26/9/2022 07:33

Another week begins - a desert of news? A mirage? Or an oasis going to appear...?

[orkneyarab] 24/9/2022 11:46

How's Trinity doing for you? Lol

[roundtheworld] 23/9/2022 19:29

When asked at his year end review what his greatest achievements were in 21/22, TK proudly responded that he could now control a fart without following through.