Empyrean Energy Share Discussion Threads

[judijudi] 05/4/2024 18:35

👏👏

[safiande] 05/4/2024 17:15

Odillion,

As far as the market is concerned and indeed as far as CRD is concerned, 8.5% is still the correct figure pending formal implementation and agreements with all parties concerned to any alternative figure. Agreements with creditors can change. There might be new agreements. Indeed the current arrangement is subject to several conditions and alternatives. So any reduction is far from agreed. Therefore it is best to certainly hang on to as much of this valuable equity.

[showme01] 05/4/2024 16:56

Saf likes to wind up. Its the only way he can defend his alter ego, TK. Pathetic for a CEO to be acting in such a way.

[georgesorrow] 05/4/2024 16:13

I remember a long time ago someone quoting TK (rightly or wrongly) as saying he would do whatever it takes to sell Mako. I don't remember him ever saying he would only sell if he got a knock-out offer. Where exactly is this from?

[odillon] 05/4/2024 16:11

Saf, it is fair comment to make mention of the 15% share due to the creditors to reflect what the true position is. The agreement with the creditors is well documented and is not confusing.

Yes EME originally had a 8.5% interest, but 15% of that 8.5 interest is now promised to creditors. That leaves a 7.225% interest for EME which I am hoping will be a very big sum of money indeed.

[georgesorrow] 05/4/2024 16:08

How exactly does EME come up with 8.5% of capital costs to initial revenues currently estimated at US$250 million if it holds onto its full Mako share? Massive dilution yet again?

Such a 'cash cow' for EME would be more like a pension plan for TK and GB from 2026-2037 for doing sod all except nipping round to the ATM.

[safiande] 05/4/2024 15:31

Odillion,

To mention a lower figure now will cause total confusion. All formal correspodence etc is at 8.5%. From EME`s RNS on Thurs:-
" Duyung Production Sharing Contract (PSC), offshore Indonesia, in which Empyrean has an 8.5% interest. "

Young Tom has always stated that he will only sell if he gets a knock out offer. So of course by staying in he will not only benefit from the very high guaranteed revenue but also from the bonus of the prospect of high impact drilling on a lower field with exploration success in close proximity. This was the point of the post.

[odillon] 05/4/2024 15:10

Saf not 8.5% because 15% has to go to the creditor, so it's 7.225%.

For my part I would take the bird in the hand rather than speculate on the prospect of further finds. Such speculation has not turned out well in the case of Dempsey and Jade. Wait a minute was that a cop show?

[safiande] 05/4/2024 13:15

Sharesure,

A further 6 weeks without news on Topaz takes us past mid May. Considering the preparation work needed this could indicate that Topaz is a no go this year if at all. The continuing silence on progess may also affect market sentiment. If so, then for the time being at least, young Tom will surely wish to keep hold of a large chunk of equity at Mako, if not the entire 8.5%. Coro is more likely to sell a bit if not all.
Conrad has confirmed that because of the slippage in first production to mid 2026, they intend to drill two dry - tree wells beforehand which will generate revenue of $US75m. EME will benefit from their share of this revenue but of course they will have to contribute their share of capex. Thereafter from 2026 - 2037 Mako is a cash cow for EME especially during the first 7 years of plateau production of up to 150mmscf per day. Additionally CRD intend to explore at deeper levels where the Kuwaiti national oil company ( KUFPEC ) already has condensate exploration success in close proximity which they intend to develop.

[wcj] 05/4/2024 11:40

SS

If we have no control over the release of Duyung news, then there would never be a safe time for a NED to buy, because he could never be sure that the news might not drop next day.

[sharesure] 05/4/2024 10:51

I doubt that any NED’s could safely buy within 6 weeks of news without risking an accusation of insider dealing; annoying as it is, but my guess is that we will have to wait another 5 weeks before there are any announcements. Very frustrating. Would be happy to be proved wrong.

[showme01] 05/4/2024 09:55

I wish RichshawTom would stop voting me down.lol

[judijudi] 05/4/2024 09:08

Pigs Can Fly

[showme01] 05/4/2024 09:01

Jemjem, shame he can't influence TK and Gas Clouds Gaz to consider doing something moral along those lines.

[showme01] 05/4/2024 09:00

Hopefully he'll make a stack of profit on them.

[currypasty] 05/4/2024 08:39

ah yes the placing... funny how it fell so much and was done at such a low price


did showme mention salary sacrifice shares ?

[showme01] 05/4/2024 08:24

Last day of the tax year. Sells could either be banking profits for the recent placing or crystallising losses.

[blakieboy7] 05/4/2024 08:08

Well that didn't last long

[tonudiki] 05/4/2024 08:06

Spencer's purchase of nearly £20,000 in shares is a bit of potential good news amid all the recent "doom & gloom" comments on here. Maybe all is not lost yet!!