Share Name Share Symbol Market Type Share ISIN Share Description
Empyrean Energy Plc LSE:EME London Ordinary Share GB00B09G2351 ORD 0.2P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.15 -2.36% 6.20 419,078 16:06:25
Bid Price Offer Price High Price Low Price Open Price
6.10 6.30 6.35 6.20 6.35
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -0.80 -0.05 30
Last Trade Time Trade Type Trade Size Trade Price Currency
16:06:28 O 147,651 6.11 GBX

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Empyrean Energy Daily Update: Empyrean Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker EME. The last closing price for Empyrean Energy was 6.35p.
Empyrean Energy Plc has a 4 week average price of 5.95p and a 12 week average price of 4.38p.
The 1 year high share price is 7.20p while the 1 year low share price is currently 3.05p.
There are currently 489,430,615 shares in issue and the average daily traded volume is 668,498 shares. The market capitalisation of Empyrean Energy Plc is £30,344,698.13.
lazarus2010: begorrah, conservative estimate, I'm up £100k on EME, excluding previous dividends, I've switched a lot out of TXP which close to 10 bagged for me, and I've been buying EME as close to 5p as possible, some below, some above, and one very small purchase just above 7p to give me a roundish number. There are many on here not nursing our losses, not wearing EME tinted specs, but playing a game where we have a running flush as a strong possibility if the right cards turn up...but we could end up with just a straight or a flush or 1 pair with a busted running flush. Like I said before, none of us are unaware of the danger of investing in exploration stocks, the share price is bobbing about all over the place atm but it's up and down on very few trades. No ii's are selling out as we don't have any, no big pi's offloading (basically we can't and we know we can't until we strike it lucky). So we sit and wait, and wait, and wait for the news which is beyond TK's control for the most part, while the PoO and the PoG go up and up and up... If you're a shareholder then stop being such a moaning old git, that is the preserve of Curry and Stewart ;-))))). If you have nowt positive to say then best say sfa! aimho dyor gla
lazarus2010: Selling 20,000 EMPYREAN ENERGY ORD GBP0.002 shares The price quoted cannot be guaranteed until the order is confirmed. 5 Price£0.066451 Order DetailsSettlement DateT+2 - 09/06/21Value of Shares£1,329.02Commission£7.99You will receive£ 1,321.03 6.7 to 6.645...a minor blip, but the Todger Dodger doesn't miss an opportunity to twist his knife. Funny how he's always quiet when the share price is on the rise!!
lazarus2010: come on Begorrah, there's not much nonsense, most are pragmatists on this bb. We all expected Duyung to be sold by now including Tom, but clearly Covid has had serious impact on discussions and the final decisions to be made by Conrad. Part of this decision may now be being influenced by the very strong gas prices in asia, which is making them consider remaining as the developer or at least retain a considerable stake in it. It's unfortunate that we're just a bit player in the decision making process and have to wait until the POD and GSA are completed and Conrad are in a position to finalise their strategy. China has continued to progress with all investigative work having been carried out, access to other operators' data has been an absolute Brucey Bonus and has raised the CoS. There is no way Tom would allow this opportunity to lapse so he is clearly working on multiple options and will I am sure, select either the best option available out of them all, or the only option available as the window of opportunities starts to close. Fwiw, I really don't give a sh!t if he were to give away 50% of Jade to get it drilled at no risk to ourselves. That would keep the Duyung cash available for Topaz where we would be able to keep close to 100% of our 49%. If giving 50% of Jade away resulted in the share price hitting 20p, I would be more than happy, especially if we then retained 100% of Topaz and Pearl which should take us beyond 200p in the success case. Pre-drill of Topaz and Pearl, if Jade is a success, I can easily see the share price hitting 50p. If they all fail, well that's the roll of the dice in exploration, We're here for the big success story and have to accept that it may fail completely, and I think every shareholder in EME recognises that possibility. AIMHO DYOR GLA
hang ten: For those foolish enough to be taking any heed of Hodge Podge it may be worth knowing that the last time he spouted his mantra 'Placing ahoy' the share price doubled ! And infact every time he mouths off here positive news lands ! Makes me wonder does he have an inside track and he becomes desperate to close his shorts position here ? Not forgetting his famous 'placing ahoy' at 7p and the price rocketed to 22p ! He has a negative agenda here which is not aligned to serious investors. All eyes are on the proceeds from our highly successful participation in the Duyung prospect.. we await the announcement that our share of this prospect has come to agreement of sale... and 'placement' of multi million dollars into the EME bank account is where this share price will rocket once again. This news could land any day... GLA and TWBD
craig2016: I have redone my overview on #EME taking into account the latest brokers note and RNS. May be of some interest to any new investors. Empyrean is a London AIM listed oil and gas explorer currently focused on three cornerstone assets, The Duyung PSC offshore Indonesia, Block 29/11 offshore China, and a multi project participating interest in the Sacramento Basin, California. Mcap currently £32m, shares in issue 489m Indonesia – EME have an 8.5% share of a gas find offshore Indonesia that has been drilled, proven and is now being prepared for development, Gas Sale Agreement is due to be signed off at any time. EME are expected to get a return of around $35m. China - Block 29/11 is huge, EME is the operator with 100% exploration rights. In the event of a commercial discovery CNOOC will have a back in right of 51%. As per 5th May RNS. After extensive review of offset wells in the vicinity Aker have finalised well design and planning for the drilling of the jade prospect, the first of 3 prospects targeting 1 bln bbls. Update due once the drilling rig has been confirmed, drilling campaign expected to commence in November. What Could China Be Worth? Cenkos released a broker note on 11th May giving a current valuation (oil in place) of 25.4p for the three prospects. They give a fully unrisked valuation of £2.63 (on completion of extended well tests) Valuations are calculated on an average between best (P10) and worst (P90) oil in place estimates, however all but one of the adjacent CNOOC discoveries are “filled to spill”, with in place volumes close to their P10 estimates. Cenkos state that there is a distinct possibility that the Empyrean prospects are in reality closer to the P10 volumes this increases the unrisked valuation to £4.98 Jade is not the largest prospect, however it's by far the easiest / least complex drill hence the reason it's the first target. Exploration by nature is high risk however Jade and Topaz's GCoS (geological chance of success) are amongst the highest of any current prospect globally at 41% and 35%. The valuations consider CNOOC’s 51% back in right. The Jade drill is expected to cost around 15-20m, so funding will be required, this could be a JV with a big player or some dilution from a capital raise. it's worth noting that Tom Kelly CEO holds 88m shares, his last purchase was £440k @9p last year pre covid, So it's obviously hugely in his interest to get the best deal possible. News flow has already increased with more updates due once drill rig and funding are finalised, and the sale of Duyung. Tom has also scheduled some PR in the coming weeks so I'd guess he must have something interesting to say. This is not an overnight multi-bagger, however the potential here is absolutely staggering even going with the most conservative valuations
safiande: lowsulphur, If you can´t listen. From the podcast:- EME is a dark horse. Potential is HUUUUGE. Don´t tell anybody. Don´t tell anybody. Refers to broker note valuations relative to current share price Hopeful that EME is going to be a good one.
safiande: Stew, Re your message yesterday on Conrad. "Come on Conrad, let eme and Coro tell us what's going on were ( sic ) nearly half way through the year." There is an agreed JOA in place on Duyung which is essentially a 3 way agreement, so it is very unlikely that Conrad is activity blocking any news flow. The position is that the JVP are simply awaiting achievement of two major milestones, which are very well known here, namely the upgraded POD & the GSAs. Both of which will enable conversion of contingent resources to accredited reserves which is important for future lending if needed e.g. Block 29 / 11. In their 2020 annual report issued yesterday, Coro again mentioned the possibility of monetarisation of Duyung, which could involve an early sale or partial sale & which could include Conrad ( partial sale only is likely ) & EME. There is an existing Twitter account for EME but which hasn´t been used since Nov 2019 reporting on the successful Mako campaign. Https://
starzerus: Empyrean Energy Plc What Could China Be Worth? Following on from our previous report we wanted to explore the potential value of the Jade, Topaz and Pearl prospects in the event of success. We explore a potential three stage approach to the drilling of the three identified prospects within Block 29/11. Phase 1 involves success at Jade, which in the event of a commercial discovery would see our risked valuation of Jade increase from 9.7p to 41.2p. Phase 2 involves success at Topaz, which in the event of a commercial discovery would see our risked valuation of Topaz increase from 15.3p to 85.0p. Phase 3 involves success at Pearl, which in the event of a commercial discovery would see our risked valuation increase for Pearl from 0.4p to 5.9p. In reality, the impact of a discovery would be more complicated, with success at Jade significantly de-risking both Topaz and Pearl. Unrisked (the point at which there is 0% risk), our valuation of the Pmean resources at Jade, Topaz and Pearl is to 82p, 170p and 12p, respectively. All but one of the adjacent CNOOC discoveries are “filled to spill”, with in place volumes close to their P0/P10 oil in place volumes. Using the P10 oil in-place volumes increases our unrisked valuation of Jade, Topaz and Pearl to 185p, 258p and 46p, respectively. Whilst our numbers do include an assumed 51% back-in post discovery from CNOOC, they do not include any assumed dilution from a capital raise and/or farm-out as Empyrean could sell other assets (eg Mako) to fund China. Given the size of the prize, there is plenty of headroom for any dilution, whilst still generating substantial shareholder value. In the Event of Success – As with all of the companies that we cover, we apply both a geological and commercial risking to each of Empyrean’s fields/prospects. Following Empyrean’s RNS in April 2021 we updated the GCoS for the Jade and Topaz prospects to 41% (previously 32%) and 35% (previously 30%), respectively, to mirror Empyrean’s own internal assessment (we maintain our 15% GCoS for the Pearl prospect). Our commercial chance of success includes a number of other potential risks which could hinder the commerciality of a discovery, including political risk, financing risk, timing risk, productivity risk etc, but also looks at the existing discoveries of a similar size in the basin to see the proportion which have entered commercial production. Our overall chance of success for the Jade, Topaz and Pearl prospects are a highly conservative 12%, 9% and 4%, respectively. Despite Topaz’s higher oil in place number, the overall chance of success is slightly lower than Jade due to its lower GCoS. On discovering a commercial quantity of hydrocarbons at a particular prospect, our geological chance of success would increase to 100%, as the Company would have proven all the individual elements of a working petroleum system (source, seal, reservoir and trap). On discovery, our commercial chance of success would also increase to c50% as the financing risk on success would have been dramatically reduced. In our hypothetical three stage approach, a commercial discovery at any one of the three prospects would increase the prospect’s GCoS to 100%, the commercial change of success to 50% and our overall chance of success to 50%. Applying this to a commercial discovery at Jade would results in a c4.2x increase to our valuation to 41.2p (from 9.7p). In the event of a commercial discovery at Topaz would result in a c5.6x increase to our Topaz valuation to 85.0p (from 15.3p). Finally, a commercial discovery at earl would increase our valuation c15x to 5.9p (from 0.4p). In reality, a commercial discovery at Jade would have a much bigger impact than just the 4.2x increase in our Jade valuation, significantly de-risking both the Topaz and Pearl prospects. Additionally, we model the Jade, Topaz and Pearl prospects as individual, standalone developments, whereas in reality, following the commercial development of an initial discovery on Block 29/11, any subsequent discovery will be tied back to this initially discovery, significantly reducing both capital and operational expense. Fully unrisked (the point at which there is 0% risk of the field entering commercial production), our valuation of the Pmean resources at the Jade, Topaz and Pearl prospects increases to 82p, 170p and 12p, respectively. Table 1: Block 29/11 Valuation Prospect Current Valuation (p) Commercial Discovery (p) Unrisked Valuation (p) 82.0 170.0 11.7 263.7 Jade 9.7 41.2 Topaz 15.3 Pearl 0.4 Total 25.4 Source: Cenkos Securities estimates 85.0 5.9 132.1 As we have discussed above, our models for the Jade, Topaz and Pearl prospects include an assumed 51% back-in by CNOOC post discovery (as per the Block 29/11 PSC). At present, we do not include any assumed dilution from a capital raise and/or farm-out as Empyrean could sell other assets (ie Mako) to fund China, but note that when relevant we will look to implement any proposed dilution into our model. However, given the size of the prize there is plenty of headroom for any dilution as a result of a placing and/or farm-out, whilst still generating substantial shareholder value. A Non-Commercial Discovery – In our hypothetical three stage approach, if Jade were a technical discovery (ie it discovered all of the individual elements of a working petroleum system) but was found to be non-commercial (on a stand-alone basis), it would partially de- risk the geological chance of success of the Topaz and Pearl prospects. The impact on our valuation would vary according to the reason why the well was non-commercial eg low permeability (tight reservoir), sub-commercial resources etc. Moreover, a sub-commercial stand-alone discovery at Jade does not rule out Jade from being commercialised as a low- cost tieback in the event of a discovery at Topaz.  A Dry Well – Likewise, in our hypothetical three stage approach, if the Jade well failed to encounter hydrocarbons, the risk associated with the Topaz and Pearl prospects would increase (the risk associated with the Topaz prospect would increase by a greater proportion compared to Pearl, due to Jade and Topaz sharing the same hydrocarbon migration pathway). In this scenario, we would remove Jade from our valuation and argue that the Topaz and Pearl prospects would likely not be drilled. Oil Price Sensitivity – We model Jade, Topaz and Pearl using the most up-to-date Brent forward curve (long-term price US$57/bbl), inflated by 2% per annum. We assume that the quality of the crude would be similar to the nearby CNOOC discoveries and as such would not receive a discount to Brent. As discussed above, using the latest Brent forward curve we value a commercial discovery at the Jade, Topaz and Pearl prospects at 41.2p, 85.0p and 5.9p, respectively. Increasing our long-term oil price just slightly from the current forward curve (US$57/bbl) to US$60/bbl increases these valuations to 45.9, 89.1p and 8.1p, respectively. In our upside US$70/bbl case these valuations increase to 60.6p, 98.1p and 14.7p, respectively. While it is important to analyse the upside from a rising oil price, its equally important to analyse the downside protection, with any discovery needing to be economic if oil prices do fall (such as in 2020). Importantly, even when we reduce our long-term oil price to US$40/bbl, we would value a commercial discovery at Jade and Topaz at 10.6p and 35.8p, respectively. While Pearl is uneconomic as a standalone development at US$40/bbl, a discovery at Pearl would be economic in the event of a pre-existing discovery on the licence (either Jade or Topaz), where Pearl would be tied back to the existing facilities via a low-cost tie-back Filled to Spill – With the exception of one field (which is 90% full) all of the CNOOC discoveries situated to the southwest and along the migration pathway to the Block 29/11 prospects are “filled to spill”. In this situation, oil migrates from the source kitchen updip, filling the first structural trap, before moving further updip to the next trap and so on. As such, the CNOOC discoveries to date have often been close to their P0 or at the very least their P10 oil in-place volumes. In our model we use the Pmean volumes as per the 2018 Gaffney, Cline & Associates (GCA) oil in-place audit, but note that there is a distinct possibility that the Empyrean prospects could be “filled to spill” and are in reality closer to the P10 (GCA) oil in place numbers. . Additionally, we assume conservative recovery factors for the Jade, Topaz and Pearl prospects of 50%, 40% and 35% respectively. Fields within the Pearl River Mouth Basin often have strong aquifer support, negating the need for secondary enhanced oil recovery (eg water flooding). The result is a high average recovery factor of between 30-70%, with the Lufeng field in particular having a recovery factor of over 70%. To ascertain the recoverable resources for any single discovery, we multiply the recovery factor by the GCA oil in-place volumes. Using the GCA Pmean oil in-place volumes we value a commercial discovery at Jade, Topaz and Pearl at 41.2p, 85.0p and 5.9p, respectively. Using the P10 oil in-place volumes, our valuation increases to 92.5p, 129.0p and 22.9p, respectively. Unrisked, these valuations increase to 185.0p, 258.1p and 45.9p, respectively. Will try to post tables shortly.
blakieboy7: 05 May 2021Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & GasEmpyrean Energy plcBlock 29/11, China - Jade prospect well design and well engineering projectEmpyrean Energy ("Empyrean" or the "Company"), the oil and gas development company with interests in China, Indonesia and the United States, provides the following update on well design and engineering work for the Jade prospect on Block 29/11, offshore China.HIGHLIGHTS-- Comprehensive analysis completed of drilling data from nearby offset wells, including four CNOOC owned wells-- A robust well design for the Jade prospect has been finalised after considering two casing design options-- All drilling operation issues have been analysed comprehensively for a safe and cost-effective drilling operation-- The Jade prospect has been assessed by Gaffney Cline to have Oil in Place (STOIIP) potential of 225 MMbbl (mean) with an upside case of 395 MMbbl (P10)On 23 April 2021, Empyrean announced that the Company had commenced comprehensive planning for the drilling of the Jade prospect in order to ensure a safe and secure drilling campaign and had awarded a contract to AGR's team in Australia to assist with well planning. AGR has now completed the well design and engineering project, and provided Empyrean with its detailed report.The AGR team completed a comprehensive review of offset wells in the vicinity of the Jade prospect, which includes four CNOOC wells.Two well design options were identified, including a three-string (casing) design and a four-string (casing) design in a success case.AGR has recommended the four-string design as it provides a more robust well design with reduced exposure to potential unplanned events and associated costs.Key Benefits of the four-string design include:-- The surface casing shoe can be set shallower to provide sufficient kick tolerance reducing the risk of surface hole problems, or requirement for a pump and dump mud and associated costs.-- Reduced risk of hole problems while drilling the final hole section that can lead to difficulties evaluating target formations and / or results in a contingency casing string across the reservoir in the success case. Planning for contingent testing equipment for this scenario would be required, reducing the cost benefits associated with string elimination.-- Reduced risk of complications during abandonment operations due to failure to achieve sufficient annular cement if the production string is run/cemented.Based on AGR analysis and recommendation, EME management has decided to plan for a four-string design for the Jade prospect well.In addition, the AGR report has provided a comprehensive design recommendation for drilling fluids, cement and abandonment for the well. Abandonment of the exploration and appraisal wells is a requirement even in the success case. The plan is to drill and test the Jade prospect. Following a successful test, a subsequent appraisal well would be drilled and core taken to assist with development planning. Following development approval, subsequent wells are designed for production.The information contained in this announcement has been reviewed by Empyrean's Executive Technical director, Gaz Bisht, who has over 31 years' experience as a hydrocarbon geologist and geoscientist.Empyrean CEO, Tom Kelly, stated:"With the timely completion of well design and engineering work, Empyrean is confident of conducting a safe and secure drilling campaign for the exciting and potentially transformational Jade prospect. AGR has completed a detailed, comprehensive and professional analysis, with recommendations that the Empyrean team are able to implement and act upon. Our next step is to utilise the report and recommendations to identify and negotiate a suitable rig for the drilling of Jade. We plan to update shareholders on our ongoing well planning soon."
lazarus2010: g-boy grannyboy29 Apr '21 - 14:33 - 37451 of 37454 0 0 0 Well blocker it wouldn't have effected you because you are supposed to have me on filter, and if you had read one of my previous post I said to sell on the spike before it falls back, because unless they announce that a t.o is imminent then there is NOTHING to justify the share price action.. Other then being primed for a fundraise.. -------------------------------------------------------------------------- there was NOTHING to justify the fall from 14p to 10 to 9 to 8,7,6,5,4,3p! The oil in China, if it's there, was still there through all the oil price drops, which as we all know are only ever temporary. Therefore by rights, with us being closer and closer to a sale of Duyung and closer and closer to drilling China, there is EVERY justification for the share price to be rising rather than falling. Don't you concur? Also it's affecting not effecting ;-0) stop mixing your adjectives (affecting) with your verbs (effecting) ;-0)))))))))))
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