Empyrean Energy Share Discussion Threads

[blueblood] 13/6/2024 17:31

How can this be marked down 33% on about £6k's worth of sells ffs. Corrupt mm's...

[odillon] 13/6/2024 15:29

The Conrad FID is now in line with the Coro FID. Nice to see some joined up thinking.

[digger2779] 13/6/2024 15:13

Just got back in and see yesterday's mini recovery has been clobbered. To be expected I suppose with that pair still stealing a living.

[judijudi] 13/6/2024 14:42

😂😂

[safiande] 13/6/2024 14:37

I recollect that a few punters here espoused the merits of EME entering into further exploration deals to enhance cash flow. I assume that " low risk / high impact " in today´s RNS from Tom refers to early cash flow. If the proceeds from Mako are substantial as mentioned, then Tom can afford to enter into decent wi arrangements on these new programmes with the cash left over following the Topaz JVP deal, assuming that the extension is granted and assuming that EME wishes to continue.

Conrad confirmed today that despite the likely 6 month slippage in the Mako FID that :-

"The parties continue to endeavour to sign a GSA by the end June 2024."

This refers primarily to the export GSA which will impact favourably on the sale process and ultimate value. Furthermore Conrad also confirmed today that additional parties have expressed an interest in the sale which should positively affect the selling price.
As Mako is a cash cow I had considered that EME might stay in at least partially. However first production has slipped to at least Q4 / 2026 so a total sale in say Q3 / 2024 will free up cash for Topaz and the new programmes as needed.

[safiande] 13/6/2024 13:37

No such intention by young Tom to wind up the Company it seems.
He has always been committed to exploration which is clearly spelt out in the final key sentence in today´s RNS where he has further exploration in mind:-

"In any case, we will continue to work towards maximising the substantial value from our Mako discovery in Indonesia in order to move forward with our plans to create value for shareholders. By making the submission for an extension in China, we plan to have options in addition to the existing projects in the Sacramento Basin. We are also being proactive in identifying additional low risk/high impact opportunities that will complement our portfolio as we monetise Mako."

This underlines at the very least the substantial value that they expect to receive from any farm out from Mako. Certainly indicates that they have no intention to distribute any dividend proceeds from any sale to shareholders, despite Tom´s major holding.

[coiin stein] 13/6/2024 13:13

𝐰𝐡𝐚𝐭 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐬𝐞𝐧𝐭9838;𝐧Ү36;𝐞 𝐝𝐨 𝐲𝐨𝐮 𝐧𝐨𝐭 𝐮𝐧𝐝𝐞9851;𝐬Ү53;𝐚𝐧;𝐝? ...

𝐄𝐦𝐩𝐲9851;𝐞Ү34;𝐧 𝐡𝐚𝐬 𝐧𝐨𝐭 𝐜𝐨𝐦𝐦9838;𝐧Ү36;𝐞𝐝; 𝐭𝐡𝐞 𝐝𝐫𝐢𝐥9845;𝐢Ү47;𝐠 𝐨𝐟 𝐭𝐡𝐞 𝐓𝐨𝐩𝐚9859; 𝐩𝐫𝐨𝐬9849;𝐞Ү36;𝐭 𝐚𝐧𝐝 𝐭𝐡𝐞𝐫9838;𝐟Ү48;𝐫𝐞; 𝐡𝐚𝐬 𝐧𝐨𝐭 𝐦𝐞𝐭 𝐭𝐡𝐞 𝐫𝐞𝐪𝐮9842;𝐫Ү38;𝐦𝐞;𝐧𝐭𝐬 𝐭𝐨 𝐜𝐨𝐧𝐭9842;𝐧Ү54;𝐞 𝐭𝐡𝐞 𝐜𝐨𝐨𝐩9838;𝐫Ү34;𝐭𝐢;𝐨𝐧 𝐨𝐧 𝐁𝐥𝐨𝐜9844; 𝟐𝟗/𝟏𝟏 𝐰𝐢𝐭𝐡 𝐂𝐡𝐢𝐧9834; 𝐍𝐚𝐭𝐢9848;𝐧Ү34;𝐥 𝐎𝐟𝐟𝐬9841;𝐨Ү51;𝐞 𝐎𝐢𝐥 𝐂𝐨𝐦𝐩9834;𝐧Ү58; ("𝐂𝐍𝐎𝐎𝐂")

[georgesorrow] 13/6/2024 12:01

Well, we’ve got an “imminent̶1; from CRD chairman on the export GSA:
“With the imminent conclusion of the Gas Sales Agreements for Mako…”

And we’ve got a “coming few weeks” from CRD CEO:
“With regards to the export GSA, the buyer, seller and SKK Migas continue to target the finalisation of a GSA in the coming few weeks.”

And from TK we have the news that at least they have asked for an extension to the Topaz licence, which is more than we knew before.

So the Chinese (sea)water torture continues…

[mark of the rushes] 13/6/2024 10:35

Inversion study??

[showme01] 13/6/2024 10:30

Assume its coming then.lol

[judijudi] 13/6/2024 10:22

But it clearly states that we will only find out if the extension is granted

[bengal1] 13/6/2024 10:07

The company has an obligation to release price sensitive news, good or bad.

[judijudi] 13/6/2024 10:05

“we plan to have options in addition to the existing projects in the Sacramento Basin”

What an asset that is to fall back on 🙈🤦🏻

[judijudi] 13/6/2024 10:03

I was just about to copy and paste that also Blakie
It won’t be announced if we don’t get an extension by the sounds of it will it Blakie
So shareholders are in limbo as per usual
imho

[blakieboy7] 13/6/2024 09:58

The Company will make a further announcement should its request for an extension be granted - I'd like to think the result would be RNS'd one way or the other

[cmackay] 13/6/2024 09:02

Not buying today, not selling today.

Topaz we have to wait and see, anything else is speculation.

Mako is unsurprisingly waiting a bit more (any developments would be immediately released so it was never going to be a financially sensitive update at the AGM) but there is a decent amount of detail about funding the thing.

Business as usual, switch off for the day. I had a dash of vanilla in my coffee this morning, let's stay grounded. We've come this far. Good luck and Godspeed!

[showme01] 13/6/2024 08:45

CNOCC and Gas Clouds clearly have a good relationship working together previously and why EME got it in the first place. At the time TK referred to it as a 1 in 100 chance. Cmon Gaz, earn your money and add value to your free shares and get this sorted.

[blakieboy7] 13/6/2024 08:41

The Tpoaz situation is inconclusive currently

[oilforex] 13/6/2024 08:39

So with no Topaz today's Share price values the US licenses and the Mako stake at around 2 million. You pays your money and take your choice...

[jemjem] 13/6/2024 08:31

Hargreaves trading platform appears to be not working?

[birotop] 13/6/2024 08:29

Oh yeah…

[blakieboy7] 13/6/2024 08:27

Games being played

[showme01] 13/6/2024 08:25

By the way, can't get a quote to buy £100 ATM.

[showme01] 13/6/2024 08:25

But they extended it before, we have had a pandemic and what a surprise, no JV partner even though they had interest ......is it because the licence was due to expire??? Get an extension and those JV partners become interested again.