Empyrean Energy Share Discussion Threads

[ny boy] 19/10/2017 12:40

Happy holding here, also nice to see (TRIN) moving up fast behind these.

News on both these stocks soon, a race on to see which one finishes higher!

[peterpowell21] 19/10/2017 12:38

There must be a holding RNS sooner or latter here.
someone is being let in here at a very good price for days now.
they can try and mix the trades up but there has been relentless buying and they keep dropping the price so they can keep buying. Must be a large institutional investor for the MM's to play ball with them.
We will see in time.

[petercrosby] 19/10/2017 12:35

Alvarez Q1 2018 i think

[herschel k] 19/10/2017 12:20

they won't prove up that level of reserves by Xmas.

I'd suggest they won't even have proven up Dempsey on it's own by then.

edit: would be awesome if they had though. :)

[darkglasses] 19/10/2017 12:17

From LSE So 1Tcf = 57p. Therefore, Dempsey 1Tcf and Alvarez 2.5 Tfc gives total share price £2 by Xmas. But I don't know when they will exactly drill Alvarez or how long it's drilling period. GLA
Is this feasible ?

[counting cards] 19/10/2017 11:42

Now if I read that as my first post I would not be buying, but since I understand MM behaviour then I am sitting confident that 24p is a formality and so is 25p. We should be more focused on will 30p be breached by Friday?

small time traders exiting and sticky hands with a longer view are adding. They know whats coming.

[s0n1cb00mb0y] 19/10/2017 11:40

Taken more this morning.

[bskiny1] 19/10/2017 11:24

breaking 24p proving harder than expected!!!

[mikemichael2] 19/10/2017 10:56

Too many £50 profit takers, need to clear them out before a good rise.

[thegreatgeraldo] 19/10/2017 10:56

Early/middle of next week for first testing result? Tuesday/Wednesday?

[harrissen] 19/10/2017 10:46

Empyrean CEO Tom Kelly commented, "After slow and steady drilling through some very hard rocks over the last few days, we are very encouraged to see the best looking gas shows from another sand in what we now believe to be part of the primary target zone in this well. We have not drilled out of this latest gas bearing sand yet, so it will be interesting to see how thick this zone is. We look forward to keeping investors appraised as we progress."



Dempsey Prospect and Dempsey 1-15 Well

Dempsey is a large structure mapped with 3D seismic and interpreted by Sacgasco to have the potential to hold a prospective resource of over 1 Tcf of gas in up to seven stacked target reservoirs. Individual, unrisked Deterministic Prospective Resources for the primary targets range from 116 Bcf to 352 Bcf of recoverable gas. Should all the stacked reservoirs be full of gas, the cumulative unrisked recoverable Prospective Resources within the Dempsey prospect could exceed 1 Tcf.



The primary targets are interpreted in a series of Cretaceous sandstone reservoirs that exhibit structurally consistent amplitude anomalies similar to those that are observed on seismic data elsewhere in the basin where conventional sandstone reservoirs have trapped natural gas in mapped structural closures, for example the Tulainyo / James and Alvares wells.



Sacgasco expects to intersect gas shows in a number of zones in the Dempsey 1-15 well and these will be assessed based on the information available, but quantitative results will need to await conventional logging after drilling each section of the well and may need flow testing to be definitive.



The Dempsey 1-15 well is planned to be drilled in three discrete sections to depths of approximately 600m, 2,000m and 3,200m associated with decreasing planned casing sizes. The well has been designed conservatively to provide flexibility to respond to well bore conditions and progressive results.



Empyrean has also been informed that since the Dempsey 1-15 well will be exploring for a new gas pool, Sacgasco has requested that the regulator keep the records confidential for two years as allowed by Section 3234 of the Public Resources Code of California. The regulator has approved the "Confidential Status" for Dempsey 1-15 in order to protect longer-term shareholder value.



Aside from compelling technical merit, the Dempsey 1-15 well location sits next to existing gas metering and surface infrastructure that is owned by the joint venture. This will allow for any gas discovery to be tested and connected into the local pipeline at relatively low cost and in an accelerated timeframe.



This announcement has been reviewed by Empyrean's Technical Director, Mr Frank Brophy BSc (Hons), who has over 40 years experience as a petroleum geologist.

[harrissen] 19/10/2017 10:24

All four companies involved have reported the SGC update

Sacgasco Limited
ABN 83 114 061 433
Unit 14, 210 Bagot Road, Subiaco, WA, 6008.
T [phone] E [e-mail]
Announcement to ASX 19th October 2017
Dempsey Gas Well Update‐
Completion Rig on Location
Sacgasco Limited (ASX: SGC) advises that Paul Graham Drilling Rig 3 and associated
equipment has moved onto the Dempsey 1‐15 well location to carry out the planned and
previously announced completion and testing program.
On the way to the Dempsey site the rig undertook a successful re‐completion of one of the
adjacent JV‐owned producing wells at the Rancho Capay Gas Field.
Additional information on the Dempsey well will be provided as testing is carried out.
Working Interests (WI) in the Dempsey Gas Project:
Sacgasco Limited (ASX: SGC) (Operator) 50%
Empyrean Energy PLC (LON: EME) 30%
Pancontinental Oil and Gas NL (ASX: PCL) 10%
Xstate Resources Limited (ASX: XST)

[blakieboy7] 19/10/2017 10:17

This is a good general link Tarz - https://hotcopper.com.au/asx/sgc/

[starzerus] 19/10/2017 10:14

funny it is not showing on my links - glad they did though.

[briannewby] 19/10/2017 10:04

Starzerus - SGC announced this yesterday on the ASX at 2:30pm Australian time

[blakieboy7] 19/10/2017 10:04

Tarz, SGC have announced - https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5gu0wRmZs%2FB6ke92GA%3D%3D

[starzerus] 19/10/2017 09:51

Interesting we are the first to announce this to the market - nothing from Sacgasco yet.

[s0n1cb00mb0y] 19/10/2017 09:22

Not long to go....blue skies ahead.

[blocker2] 19/10/2017 09:19

Need to breech 24p

Plenty of attempts, let it go ................

[herschel k] 19/10/2017 09:18

buffythebuffoon 19 Oct '17 - 09:04 - 10963 of 10967

I’ve calculated that if the five do what I expect them to, I’ll recover or exceed my previous portfolio high which was achieved not long before I went on holiday into a remote mountain village with poor communication without putting stops on my spreadbets.


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

many of us have been there buffy.

I (through my own stupidity) lost thousands of paper profit on GKP, and then lost about 60% of my original investment as well.

however, since the end of 2014, I've increased my ISA and SIPP portfolios by 20x their values following those losses, through some shrewd moves and a fair bit of luck (if I'm being honest), such that I'm now well above the paper profit I had in those heady GKP days in early 2012.

I hope you get it all back and much more.

H

[tidy 2] 19/10/2017 09:14

Market asleep on this one. Not for long tho.

[peterpowell21] 19/10/2017 09:13

What a nice problem to have, too much gas pressure.

[timw3] 19/10/2017 09:12

EME 1 Tcf gas is worth 57p. WE COULD have several 1TCF. Thats £1+ to the share price!! Currently 23p and rising.

[csjcsl2] 19/10/2017 09:12

mms after stock,

[timw3] 19/10/2017 09:08

only going up from here to 30p+ imo

too much gas pressure