Empyrean Energy Share Discussion Threads

[mike the golfer] 20/10/2017 06:08

Xstate is pleased to advise it has successfully raised $752,378 (before costs).

Despite the placing XST shares are currently up 7.69%.

So near to testing those investors 62M shares haven't just got in for only 20-30% profit. They must be convinced Dempsey will be good.

[blakieboy7] 20/10/2017 05:50

Surely another blue day today!!

[maltby2002] 20/10/2017 05:35

On the other hand as the money is to be used to obtain more leases and developing Alvares it shows a lot of confidence in the data they already have. Interesting day ahead as positions are taken before likely news next week

[maltby2002] 20/10/2017 05:29

Interesting that XST do the placement before the results of the test as you would have anticipated a higher placement after a successful test especially as it was at a 17% discount to the previous

[harrissen] 20/10/2017 05:26

Royale Energy, Inc. are producing from several wells in the Sacramento Basin with similar history to that of Dempsey.

Royale Energy, Inc.



CALIFORNIA

Royale Energy has properties covering over 20,000 acres in California and nine 3D seismic surveys in the Sacramento Basin, where we believe tremendous opportunities still exist.
We continue to explore this area with a fine-tooth comb because with 3D technology at our disposal, we can find reserves that were unidentified with older technology.
We currently operate over 60 natural gas wells to date. Royale has had good success and continues to develop and produce the Lonestar, Victor Ranch and North Arbuckle fields, to name a few.
The lure of California is its position at the end of the pipeline grid. Natural gas production flowing from the producing areas of Texas and Oklahoma is being absorbed before it reaches California due to the growing consumption in Nevada, New Mexico and Arizona. Likewise, natural gas flowing from the northern producing regions of Canada is consumed by the economies of Washington and Oregon. California currently imports almost 84% of its natural gas supplies from sources outside the state and is finding competition for the resource stiff. This situation creates value and demand for in-state natural gas suppliers such as Royale, which owns interest in 12 natural gas fields in California.

[harrissen] 20/10/2017 04:11

I remember Hatto, he was another unfortunate who fell for the Clontarf Rd fairy tale about PETREL Resources being prequalified for bidding rounds in Iraq and piled in bigtime.

The rest as they say is history!
He disappeared from the bbs long ago a sadder but wiser man. He was once worth millions due to his successful investments and had an article about his success published in the FT!

[harrissen] 20/10/2017 04:01

Gary Jeffery - "Ive been in the oil and gas business for almost 45 years and have been associated with big gas discoveries world wide and I sincerely believe that what SGC has uncovered in the sacramento basin is truely world class. On top of that ill say its the best ive seen in an onshore location given the massive local market/infrastructure"

[cmackay] 20/10/2017 03:13

XST have announced successful placement for 750k. Still up 7% today.

[cmackay] 20/10/2017 01:28

I was asleep by 7 this evening, massive hangover. Sgc up.6.5% so far and also XST up 7ish too.

[cmackay] 20/10/2017 01:26

Tgg, wcj; thank you for the posts, they are both helpful in understanding the near term developments.

[malcolmmm] 19/10/2017 23:54

Empyrean Energy (LON:EME) 22.25p £88.28m

The oil and gas development company with interests in China, Indonesia and the United States, announced that it has been informed by Sacgasco Limited, the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, 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.

"Empyrean is delighted that most of the preparations are now complete and that testing at the Dempsey 1-15 well is to commence shortly. There were multiple interesting zones that gave gas shows whilst drilling. The deepest of these zones will be tested first and we look forward to providing further updates as the testing program unfolds

[wcj] 19/10/2017 23:06

At the AGM Gaz did say that they expected to develop a maximum of 2 zones. He said that the performance of the first zone would effectively calibrate all the (unknown) lower levels. This would suggest that the geology of the various strata at the bottom is similar, just separated by the harder lenses.

[thegreatgeraldo] 19/10/2017 22:21

Rutter,

From the seismic the partners will have a view on the areal extent & thickness of potential reservoir zones. The well, with the gas shows & then logging info, will have firmed up that view. Next stage is to see how the bottom zone flows, what sort of rate, while monitoring the drop in pressure during a short test. Then stop the test & see how quickly the pressure recovers. Repeat that a few times, then go for an extended test - into sales, if they feel it's justified; if not, block off bottom zone & perforate the next zone & repeat the process. Once they find a zone they're happy with, hook up to metering station, continue to monitor flow rate for a while, along with the downhole pressure, then get an independent firm in to put together a reserve report. Assuming there is a decent sustained rate from a deep zone, start planning for the first dev well, rinse & repeat.

[mikemichael2] 19/10/2017 21:49

And remember Independant insurance, and coloroll ?

[abergele] 19/10/2017 20:58

Terry,
I can't honestly say yes or no,,without checking back,,
but honestly believe it just went upwards slowly over the 15 yrs or so..imho
perhaps someone has an idea ? on that one.gla

[terry hardacre] 19/10/2017 20:54

abergele - tremendous story! But was there any dilution or consolidation along the way from your sale to today's share price?

[abergele] 19/10/2017 20:41

A lesson about selling out too early.
I just looked in on an old share I held yonks ago,AHT..Ashstead..I bought 20k for myself and also the shareclub I ran in the old days,between 17-20p..started at 35p so had to average, but the old maxim of reaching evens,and jumped ship.I bet that sounds familiar to many eh.
Well they traded today at over £19 today..20k x £20 almost £400k..
I shan't make the same mistake twice, holding for the final furlong now..

ps.
Just as a few here have a million shares from 1.5p..
In AHT a guy called Hatto bought a million at 1.5p when it collapsed before the time I bought in first at 35p..don't know his history of selling ,but must have retired by now ,well and truly..gla lth's.
sorry off topic ,but a lesson in patience...

[rutter] 19/10/2017 20:40

Please excuse my question as I know nothing about the O & G industry. However I thought that it was usual practise to do an extended flow test in order to book reserves on a discovery. EME are intending to connect in a matter of weeks if Dempsey proves commercial, Is this unusual? Does it simply prove confidence in the well's ability to produce on going volumes. I'm a bit confused.com out of pure ignorance. Any pointers would be appreciated. Thanks in advance

[darkglasses] 19/10/2017 18:04

It's an added plus though if there are some institutions on board to give a base for the share price

[pb01] 19/10/2017 17:58

Should be interesting share price action tomorrow. Investors may be wishing to add a few more before the weekend. We could be looking a initial flow test results by Monday.

[thegreatgeraldo] 19/10/2017 17:43

Board own about a third of the stock

(edit) without looking it up, between a quarter & a third

[darkglasses] 19/10/2017 17:37

I see EME have 398m shares. Does anyone know the free market capital(in public hands) and how much is held by the institutes, if any?

[tidy 2] 19/10/2017 17:26

Soz wrong thread

[thegreatgeraldo] 19/10/2017 17:26

They've got logs across the whole well. If the bottom zone were to flow, they could draw conclusions based on that & the logs & apply to other deep zones of interest.