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
  0.00 0.0% 7.85 383,331 08:00:00
Bid Price Offer Price High Price Low Price Open Price
7.70 8.00 7.85 7.85 7.85
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.11 0.02 342.0 35
Last Trade Time Trade Type Trade Size Trade Price Currency
11:02:02 O 125,865 7.945 GBX

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Date Time Title Posts
25/1/202010:07EME - Post Sale of Sugarloaf Asset29,507
06/12/201812:36Empyrean Energy22,252
24/8/201817:31Chat site for investors only144
21/8/201808:56WHY HAVE THE AGM SO QUICKLY?28

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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 7.85p.
Empyrean Energy Plc has a 4 week average price of 7.75p and a 12 week average price of 6.50p.
The 1 year high share price is 10.50p while the 1 year low share price is currently 6.50p.
There are currently 447,597,577 shares in issue and the average daily traded volume is 242,836 shares. The market capitalisation of Empyrean Energy Plc is £35,136,409.79.
cmackay: If a death spiral financing had been set up to provide a death spiral for Empyrean with a death spiral financier, then I'm sure the death spiral would have the hallmarks of a death spiral, namely an agreement to raise funds followed by an ability for the death spiral financier to flood the market with shares at whatever price was suitable to current market conditions, thus creating a perpetually reductive impact on the share price. I believe this is sometimes referred to colloquially as a murder loop. This is not the case here. Empyrean is on the brink of an asset sale. It has no need of a death spiral arrangement, in the same way that I have no need of a payday loan. I have an arranged overdraft, but I never use it. It's just there as a precaution. Just like this arrangement.
hang ten: Well.... 2020... Mako sale before the end of March.... Announcement of our participation in Borba... A 'possible' shareholder divi.... 2020 imo EME will monitise assetts to significantly increase our cash reserves along with our 10m funding available for draw down 'if' required. imo, Mid 2020 (or sooner) EME will announce the participation plan for Block 29/11 in the South China Sea- where we have a potential 1 billion Barrells of the Black stuff waiting to be unlocked. Will EME go it alone... Or do a JV deal for the first drill ? On success of the first drill there is a mighty chance of a takeover ! Many here will become very wealthy people in this case. Let's not forget - 2020 is the year we move forth to block 29/11 with action starting Q4 2020 !!! At the current share price and all that is going on, a proven track record with the TK/Gaz working partnership... Too much happening here to not be involved. Happy New year all ! I'm super stoked to be on board and even happier to have been in since the start of this now potentially transformational 2020 !!!! GLA HT
rajawali: AUD 56,000 value of transactions takes Sacgasco nominally 25% up for the week. Personally I don't reckon Sacramento is what will drive Empyrean to where it is going. Equally, the low daily value of EME shares traded reflects nothing like what the risk/reward proposition is potentially. Since the recent "high" of Oct 23, it has taken under GBP 400K of transactions to shave a quarter off the printed bid of EME's share price....and this is a company that has a relatively stellar geological COS on 650 million barrels in China. What DOES actually matter is the price a buyer of Indo ascribes to what has looked pretty damn good so far even without the deeps. Then bring on China. Some pretty exciting months ahead, I reckon.
whipsawtom: Curry, JEm is correct. The share price of EME is not relevant to what price Indo might be sold for. However, the reverse is not true of course because the better the price Indo gets - the better the chances of EME price responding - especially if it paves the way for further drilling - ie China massive potential. Either way the value of Indo just went up significantly - that is beyond dispute!
jemjem: Nice as it would be to have the share price storming away, the important part to remember is that Indo will get sold in H1 2020. The mechanics for that sale are in place and it matters not one jot what the share price is, to the sale price of Indo. The bigger the reserves and the better the flow rate, then the higher the sales price. As a broad brush estimate, I would guess that the sales price we receive for our 8.5% has just gone up by about 50% and, as has been mentioned, will make a huge difference as we head towards the bigger prize of China. This is a stepping stone and I believe there is plenty more good news to come yet. Great result Tom and Gaz. Your dead aim for drill location from the seismic is impressive and very reassuring :-)) Imo.
mike the golfer: In their RNS Coro state: Management estimate that in the event of the Tambak-2 well resulting in a successful appraisal of the southern area of the Mako gas field, approximately 100 Bcf of gross contingent resources will be added to the 2C category from the 3C category. What effect do people think this will have on the EME share price if shown to be accurate?
stewart4980: From Lemming investors by elrico (Just now) Empyrean Energy PLC (EME) is another company that chose to make a couple of announcements while I was on my jollies, hence why I am a little late catching up with events at EME. Given the share price performance in 2019, you would think the company has not made any progress bringing its considerable assets in China, Indonesia and the United States closer to commercial fruition. We need to remember the pace of oil & gas companies, they do tend to take their own sweet time. Just like Tom Kelly... I seem to have been waiting an eternity for his call. The problem investors have at the moment is the waiting to see what Empyrean's management do by way of establishing a cohesive strategy that allows the company to garner the most interest from their assets without dilution, something the naysayers have argued is unavoidable. Well, they would, wouldn't they, this is how the BBM bears operate, they try to instil fear into unsuspecting investors. Empyrean has a good core of LTHs that contribute to a well-informed forum. I digress! Empyreans management has options available to them to develop Mako Gas Field which has a massive reservoir and areas of migration from existing production wells, which could focus the mind of other potential partners. This is all conjecture, of course, kite flying if you like. But the facts are Empyrean need to work out if they go it alone, or via a JV partnership. The latter would minimize the potential for dilution - if the former, then at what cost via institutional or HNWI placing? The trick with either is controlling flipping. There is potential for a sale of Indonesian assets to help fund and retain existing ownership, but this would need to happen pretty quickly or risk delaying the drilling program. The area surrounding Mako Gas field is a large undeveloped resource in a prolific basin and close to existing infrastructure with capacity, providing access to a hungry market in Singapore. This has created a lot of excitement for exploration potential to more than double the size of the resource - this is very significant, high value, low-risk step-out exploration located above and beneath the field itself. My guess is the BOD have already started with the logistics because they seemed quite certain Q4 2019 is the time to start the drilling campaign. I would expect any bear action (if there is any) to exit and traders enter the market for the stock ahead of drilling. At the moment, traders and perhaps investors are using their funds elsewhere during the EME lull in activity. We shouldn't forget south China seas, where Husky could create a lot of excitement around China, Jade, Pearl and Topaz assets because of the migration flows. This would assist in partner control the amount of migrating deposits, essentially controlling their own assets from seeping into Empyreans control, which puts Empyrean in a strong position around the table.
kevjames: HP The overall valuation is clearly dependant on the asset getting developed and delivering the hydrocarbons as expected - so there is risk. The market is the market - so I am not particularly bothered about today's share price. My strategy is to understand where I think it will be in the future (1-2 years outlook)and if it would provide better returns than other investments that I may choose to invest in. More importantly, I do want to understand the downside - as we all know AIM shares can be dogs. After the EME AGM, the cash in the bank was the biggest issue for me, but EME seem to be in better shape now and the assets do appear to be good ones, albeit they need to prove them up and start generating cash at some point. Looking ahead, where do you think the share price would go after a successful drill campaign in Duyung(if that is case) in the late summer. My guess is higher - but even after the appraisal drilling lots of tie infrastructure would need to be paid for etc, but the valuation model/numbers account for that as part of the developments costs. As Whipsaw Tom stated this is an incremental thing - the plus points are that the asset looks good and it's fairly low risk. If it gets fully developed (very likely) it could be worth 10-20p - do you agree? I am happy to hold and still believe that China is where the real value lies for EME. As for day to day prices over the next few months - I have no idea, the last 6 months have seen quite a few ups and downs in the range 8-11p - and if people are happy to trade in that range then good luck. As I have stated previously, if EME release really good news of a JV in China, then IMO we will see a significant re-rate upwards. That is what I hope and believe will happen - so I don't want to be out. That said, this is a good discussion and trying to equate current and future valuations is very difficult as they are often based on assumptions that need to be funded and proven – the drill bit is the final arbiter, but that is the beast that is the O and G industry.
kevjames: A time for reflection – where next for EME? Many on here will not like what I am about to say and that is I support Colin’s JAM tomorrow statements, but don't despair - read on. So the first Jam tomorrow statement is likely to be the announcement of the POD for Mako ( by EOY or early Q1) – leading to an appraisal well in Q3 which will not only appraise the current Mako shallows ( which are already classed as a discovery) but will also drill down to explore the deeps. If they prove up will lead to another 3 drill prospects – truly exciting times and transformational if successful -real jam. These assets will then be sold when proved up-IMO. The second jam tomorrow statement will be the announcement of a JV partner for Block 29/11 – due Q1/2 19. It will happen, of that I am sure – GCA independent audit was the last piece of the jigsaw to allow a deal to be brokered. The third Jam tomorrow is the re-entry to Alvares to re-log the gas bearing zones – but that is not likely to Q2 19. None of the above events are immediately cash generative, however a sale of part or all of an asset may lead to cash in the bank, but there are no obvious assets to get rid of at this stage. So given that we have had an excellent independent audit from GCA, and now a small placing at above the current share price (to provide some working capital), where is the downside or upside for the next few months?? The downside is that it may be a few weeks before we get any further news – for the impatient that must surely mean time to sell and move on – this seems the normal modus operandi on AIM for many traders. However, HP was keen to keep referring to BPC (and I note he didn’t respond back to my post about this a few days ago). So to remind everyone, the BPC share price did not really react to the independent STOIIP audit, the news that got in BPC share price spiralling upwards was about signing an exclusive agreement. This agreement was purely to do a technical evaluation of the project area – at this stage, I would like to remind people that EME have 3 drill ready prospects in Block 29/11. Also, the Mako prospect is drill ready. For EME and its partners the next step is to drill, it is not to technically evaluate prospects– a big difference!! The upside? So could EME spiral up on a JV announcement – well, yes – any JV announcement is the equivalent of the "exclusive agreement" news in the BPC cycle, but many times better in my view. If you look at the chart for BPC (linked)- we are at the Dec 17 timepoint. The spike up comes at the time of the exclusive agreement announcement (May 18) – this was further pumped up be the herd as time progressed – so Jam tomorrow. Now, even with my ageing eyes, I see little opportunity in that BPC chart to make money on the downside post the Moyes (expert) STOIIP audit announcement of Dec17. That said, a trader may wish to exit for a few weeks and maybe time it right and get back in before a big rise – this could happen either by inside information or luck. However, most of us mere mortals will just have to guess, gamble or stay long. I will be doing the latter!! IMO, this will re-rate on news of a JV and also probably on POD news – but it is definitely jam tomorrow. So Colin and HP good luck with your strategies, a 6p (or was it 4p placing ) now seems incredulous! I am happy to sit long and wait for my jam because I am certain that I will be making good money in 2019. As the BPC example shows, the price went up around 6 fold without a drill bit getting anywhere near the ground/seabed – could we see a similar pattern for EME??? For an AIM stock –this is very likely, as the herd will arrive again at some point and the trigger points are easy to see. AIMHO and DYOR IMG][/IMG]
thetoonarmy2: The Donald - 20 Sep 2018 - 09:35:37 - 22127 of 22966 EME - Post Sale of Sugarloaf Asset - EME I just can't stop giving!!! Read the last sentence!!! We believe the following very achievable factors may help close the gap between the Empyrean share price and our target price. Expand and Enhance Resource Potential Following the recently-announced increase in the gross mean prospective resources on Block 29/11, the logical next step was to employ the services of a third-party organisation to certify the prospective resources. Empyrean have appointed Gaffney Cline to complete a third-party audit of the oil initially in place, with the results due in October. The result of this will look to validate Empyreanâ̈́4;™s internal numbers, providing greater confidence of the prospective resource potential to the market. Following the completion of the Gaffney Cline resource audit we would anticipate a re-evaluation of our target price. Entering a PSC in China Following the completion of the committed work programme for the first phase of the Geophysical Service Agreement on Block 29/11, Empyrean has the option to enter into a production sharing contract (PSC) with the China National Offshore Oil Corporation (CNOOC). Entering into a PSC demonstrates Empyreanâ̈́4;™s commitment and financial capability to drill an exploration well within Block 29/11 in the next 30 months. Final Investment Decision The next 12 months will see a steady stream of newsflow from Empyrean and its partner, Conrad Petroleum, as they work towards the FID on the Mako field. Key inflection points for the share price include the signing of a gas sales agreement (GSA) and the agreement to access the West Natuna Transport System, before the FID itself. Exploration and Appraisal The drilling and testing of the Alvares prospect and the Mako Deep structures respectively during 2018 and 2019 have the potential to deliver significant value to Empyrean. In either success case, we would need to re-value the company, and uplift our current price target. Chinese Relations: Through the Companyâ€;™s Executive Director, Gaz Bisht, Empyrean have a productive relationship with the Chinese National Offshore Oil Company (CNOOC), a relationship which sets Empyrean apart from its peer group. This close working relationship has seen CNOOC provide approval for Empyrean to shoot 3D seismic outside of their block covering an existing CNOOC discovery, which we believe is a first for any foreign operator. ï�® Reserves & geographical focus: Empyrean has a balanced portfolio of assets across the oil and gas lifecycle. Offering investors exposure to low cost conventional exploration and production onshore California, with high impact frontier exploration in China and Indonesia. Core to the investment proposition is the 100% operated, 774mmbbl of gross mean prospective resource within Block 29/11, offshore China, where the Chinese National Offshore Oil Company (CNOOC) have discovered an estimated 1.3 billion barrels stock tank original oil in place (STOIIP) on the neighbouring Liuhua 11-1 field, the largest oil field in the South China Sea. ï�® Onshore economics: Onshore economics amongst Empyreanâ̈́4;™s Californian assets are highly attractive relative to offshore. A well can cost US$5m vs US$50m offshore deepwater. The cycle from discovery to production is also significantly shorter through the substantial infrastructure in place. Furthermore, California has a favourable fiscal regime with no federal taxes. Mineral rights (negotiated for each lease) and corporate tax of 25% are the only charges to the Company. Consequently, the Company ‘netbackâ€;™ is much higher with faster payback on projects. ï�® Markets: All of Empyreanâ̈́4;™s assets are strategically situated in geographies with a high regional demand, where they can capitalise on higher commodity prices. California has a gas demand of 2.5tcf/year, of which 90% is imported from out-of-state (forecast to rise to 98% by 2025), with prices trading at a 10-15% premium to Henry Hub. Indonesia is scheduled to be a LNG importer by 2020, with a growing population resulting in an increased demand, current domestic gas prices are in the region of US$9/mcf. China is the world’s largest oil importer, importing 8.4mmbbl/d in 2017 to satisfy its continued economic expansion, with this figure forecast to increase by 17% over the next few years. ï�® Trading at a discount to target price: We calculate a target price of 20p for Empyrean. In calculating this target price, we have excluded the Riverbend, Eagle Oil Pool and Dempsey Trend AMI assets which are currently not core assets for the Company. Given the material upside to the current share price of c197% we initiate our coverage with a buy recommendation. Catalysts for outperformance include success at the Alvares prospect in Q4/18 and the drilling on a high impact exploration/appraisal well in Indonesia, targeting the Mako Deep lead.
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