Empyrean Energy Share Discussion Threads

[georgesorrow] 25/6/2024 10:50

Good volume and a tight spread. Almost looks like a proper share.

[blueblood] 25/6/2024 09:41

Absolute pathetic share price and can't even get to 0.4p. Guess another short wait until real GSA news drops lol

[blakieboy7] 25/6/2024 09:39

AntoSag,I don't recall seeing you post on here before. Are you new to eme?

[antosag] 25/6/2024 09:33

It could still be closed period if another news is on its way.

[michmcd] 25/6/2024 09:20

TK will have to disclose any buying surely - but lets hope its his investment

[showme01] 25/6/2024 09:17

Hi mate, good to hear from you. Hope life is treating you well in sunny Jersey. Yeah, be good to see some director buys and not just poor old Spencer who seems to time them poorly.

[bluehooperman] 25/6/2024 08:45

Hi showme You may be correct in your thinking:-)Let's see if the directors will actually buy some shares for a change, now they are not in a closed period

[showme01] 25/6/2024 08:36

888,888 share buy just gone through. TK code that Topaz looking good? Remember his top up to 88,888,888 😉

[cmackay] 24/6/2024 17:19

Thank you George and Safiande. I may begin to get excited. Yes, there it is. I'm excited.

Yippee!

[safiande] 24/6/2024 16:57

cmackay,
For sure it is not 5.7 mil or so. You may recollect that last year we were woeking on the basis of 50 mil or so for EME. Your figure is of course based on the lower DMO value for 100% of the gas whereas we know that at least 71% will be for export at much higher prices. There was also a ministerial intervention on the pricing as well as the fact that the pricing formula is linked to Brent prices. Furthermore CRD and GCA believe that the tie in to Batam will never happen, at least not during the period of the current licence to 2037. If so, all of the gas will be supplied at export prices.

[digger2779] 24/6/2024 16:49

Well the mm's would appear to value our share of Duyung at just over a quarter of a pee to sell on today's showing.
Pretty disappointing.

[georgesorrow] 24/6/2024 16:31

cmackay, part of the valuation problem is whether you assume 100% export to Sembcorp at higher prices, or 71/29 split with domestic buyer (if it builds the pipeline). Lots of people saying PGN will never build the pipeline. If so, valuation should be dramatically higher. But we haven't been told how much Sembcorp will be paying for the export gas, so I am not sure how the broker note on Coro arrived at $101m.

I'm assuming that Safi's gross sales to PGN does not account for up front field development costs, which brings figure well down.

Can't fault your arithmetic, but I don't think we can put a value on Duyung until we know what price Sembcorp is paying. In the meantime your $57.39m seems to be remarkably close to my $57.23m. I'll settle for either figure right now.

[cmackay] 24/6/2024 16:03

Thank you George

I shall share my sums

122.77 trillion is:-

122,770,000,000,000

$5.5 per million, so:-
Divide 122,770,000,000,000 by 1,000,000 and multiply by 5.5

This gives a 100% value of $675,235,000

Therefore 8.5% is $57,394,975

Please correct me if I'm wrong

[vipdibas] 24/6/2024 15:53

All eyes on KEN something going on there

[georgesorrow] 24/6/2024 15:50

Back in Dec 23, a research note valued Coro's share of Duyung at $101m, which values EME share at $57.23m, or about £45m.

Take off EME debt of about £10m (includes 15% of disposal proceeds at £45m), leaves about £35m.

[cmackay] 24/6/2024 15:27

Thank you for your post, safiande. I think I may have miscalculated because I make that full capacity DMO at 8.5% to Empyrean worth c.$57.3million.

I think it's more likely to be $5.73million though, surely?

[safiande] 24/6/2024 14:01

Conrad has previously confirmed that the Duyung Block will be priced at US$5.5 per MMbtu for PGN. Today`s RNS is for volume of up to 122.77 trillion British Thermal Units. No pricing yet provided for export although it is believed to be much higher than the DMO prices. The previous two GSAs in 2001 & 2008 between Premier & Sembcorp in the West Natuna sea provided the full values of the deal in USbillion dollars. So we can expect the same information this time as there are so many listed companies invoved.
As per CRD the total gas sales volume is expected to reach 293 trillion British thermal units (Tbtu) with the potential to increase to 392 Tbtu. This is equivalent to 71 percent to 95 percent of the total 2C contingent resources potential of 413 Bcf, as evaluated by Gaffney Cline Associates in August 2022. The GCA assessment was included in CRD´s IPO.

[odillon] 24/6/2024 13:05

Apparently they are also running the Tory election campaign and have bet big on an August election and a historic win for the party.

[showme01] 24/6/2024 12:53

Yeah, it also said this.....Empyrean holds a 76.5% operated interest in the Duyung PSC. Duyung is located in the Riau Islands Province, Indonesian waters in the West Natuna area, approximately 100 km to the north of Matak Island and about 400 km northeast of Singapore. The Mako field contains 2C Contingent Resources (100%) of 376 billion cubic feet ("Bcf"), (of which 21 Bcf are net attributable to Empyrean ) and is scheduled to begin production in 2026 subject to completing a formal GSA with a Singapore buyer. The West Natuna Sea has been supplying Singapore with natural gas for more than two decades and Mako is expected to continue this supply for at least another decade.

[mhfrancis] 24/6/2024 12:38

the statment this morning states eme with intrest in china indonesia and united states it must be topaz

[bungeetrader] 24/6/2024 12:11

Just my own personal opinion but I really think Topaz is gone. (yes, I know they've said many things about this and that in RNS's but not sure I believe them!)

[antosag] 24/6/2024 12:00

Blakesmith, go buy a spelling dictionary.

[blakieboy7] 24/6/2024 11:13

Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.----------AIM - WINNERS----------Empyrean Energy PLC, up 46% at 0.34 pence, 12-month range 0.20p-1.08p. The oil and gas developer with projects in China, Indonesia and the US says it has entered into a deal to sell the domestic portion of the gas produced from the Mako field. The deal is with PT Perusahaan Gas Negara Tbk, the has subsidiary of Indonesia's national oil company. "The GSA with PGN for gas from the Mako gas field (in which Empyrean has an 8.5% participating interest), is an important step in the commercialisation of the Mako gas field (the largest undeveloped gas field in the West Natuna Sea)," Empyrean adds.