Empyrean Energy Share Price (EME)

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
	-0.10	-1.03%	9.60	313,327	11:47:47

Bid Price		Offer Price	High Price	Low Price	Open Price
9.20		10.00	9.70	9.15	9.70

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers		0.11	0.02	415.5	41

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
17:06:02	O	10,000	9.60	GBX

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Empyrean Energy (EME) Latest News

Empyrean Energy News

Date	Time	Source	Headline
15/10/2019	11:33	ALNC	Coro Energy, Empyrean Note Completed Drilling Of Tambak-2 Well
15/10/2019	07:00	UKREG	Empyrean Energy PLC Duyung PSC, Ops Update - Tambak-2 Well reaches TD
04/10/2019	09:35	ALNC	Coro Energy, Empyrean Note Start Of Tambak-2 Well Drilling Programme
04/10/2019	08:02	ALNCF	Alliance News Flash Headline
04/10/2019	08:00	UKREG	Empyrean Energy PLC Duyung PSC, Ops Update - Tambak 2 Well Spud
26/9/2019	13:12	ALNC	Empyrean Energy Fundraises For Upcoming Drilling Campaign At Duyung
26/9/2019	07:02	UKREG	Empyrean Energy PLC Empyrean raises £365,580 before costs
24/9/2019	12:06	ALNC	Coro Energy, Empyrean Energy Set To Begin Mako Field Work On Time
24/9/2019	07:00	UKREG	Empyrean Energy PLC Duyung PSC, Operational Update
18/9/2019	11:28	UKREG	Empyrean Energy PLC Grant of Options and PDMR Notification

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Empyrean Energy (EME) Discussions and Chat

Empyrean Energy Forums and Chat

Date	Time	Title	Posts
18/10/2019	16:32	EME - Post Sale of Sugarloaf Asset	28,139
11/3/2019	07:05	EME - THE LONG-TERM INVESTORS THREAD - MODERATED	204,273
06/12/2018	12:36	Empyrean Energy	22,252
24/8/2018	18:31	Chat site for investors only	144
21/8/2018	09:56	WHY HAVE THE AGM SO QUICKLY?	28

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Empyrean Energy (EME) Top Chat Posts

Date	Subject
20/10/2019 09:20	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 9.70p. Empyrean Energy Plc has a 4 week average price of 8.78p and a 12 week average price of 7.75p. The 1 year high share price is 11.40p while the 1 year low share price is currently 7.75p. There are currently 424,275,110 shares in issue and the average daily traded volume is 221,282 shares. The market capitalisation of Empyrean Energy Plc is £40,730,410.56. Read Full Thread Reply
15/10/2019 09:58	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! Read Full Thread Follow Reply
15/10/2019 08:57	jemjem: I disagree Curry. Although Coro and Eme have an input, it will be Conrad (a private company) who decide whether to accept an offer, or not. From memory, if Conrad sell their entire interest then Eme HAVE to follow suit. There will be no reference to the share price - or what shareholders think. Imo. Read Full Thread Follow Reply
15/10/2019 08:30	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. Read Full Thread Follow Reply
05/10/2019 11:06	kevjames: My understanding is Gary Jeffrey and the SGC team called Dempsey. As expected, lots of gas was found in the shallows ( historical fields for that area). What drove the excitement was all the gas shows at the deeper levels. That said, it was not commercially productive using standard vertical well production methods, IMO. That said, the data could unlock some serious potential going forward. Track record - my guess is that SGC consider Dempsey successful, but from EME perspective, I think it was probably a bad call to get involved. No one said this was easy or a given. Hopefully we all understand the risks - if people don’t, they shouldn’t be here. Ultimately, the news ( published facts) will dictate the direction of the share price. Long or short - the drill bit is ultimate arbiter. GLA. Read Full Thread Follow Reply
04/10/2019 07:40	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? Read Full Thread Follow Reply
08/5/2019 11:54	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. https://lemminginvestors.blogspot.com/ Read Full Thread Follow Reply
25/2/2019 08:38	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. Read Full Thread Follow Reply
25/2/2019 00:46	whipsawtom: Kev, your model is fine given your assumptions. It is similar to what oil and gas analysts will be doing to value the project. And yes there is potential upside in the model predominantly in the form of actual gas prices achieved and further resources being discovered or proved up. But your model is valuing the project as opposed to valuing the Coro deal. They are two different things and require two different methods as I mentioned previously. The way to value the deal (as per Menzies) is simply to add the cash and shares value paid to the Farmin cash and divide it by 0.15 and then subtract the Farmin cash as this is going into the deal. So, $4.8m + $10.5m =$15.3m then divide by 0.15 = $102m minus $10.5m gives you $91.5m. This is the way the DEAL has been valued by Coro. It is not a model of the project. Whilst you can assign a pro rata per share value of the DEAL to EME to give you an indication of what that deal was arbitrarily worth at the time the deal was struck it is of little meaningful use to the value of EME shares moving forward for a number of reasons. The main reasons are that rather than putting $15.3m into an outright purchase of 15% of the project there is $10.5m to be spent on the project that can add transformational upside to any valuation. Also, as you get closer to project milestones such as POD approval and gas sales agreement you remove risk to the project which increases value. Also, the POD approval will push tenure of the PSC out to the year 2037 which also removes risk and increases value. So, Kev's model is fine - it is just that it is useful to see where the valuation of the project is heading. Menzies' value of the Coro deal, whilst simple in the sense that it is just valuing the DEAL historically rather than valuing the PROJECT in depth, is also fine but it is only useful to assess what Coro are paying to get a piece of the PROJECT. By the time they actually earn their 15% the valuation of the project will have changed dramatically. This is the challenge with valuing farmins as opposed to outright sales. In relation to share price reactions post deal - the deal has not even settled yet so it's a bit early to be calling. But given Empyrean have already received the first tranche of cash that serves as a break fee if Coro cannot settle, that coupled with a 14% rise in Empyrean's share price since the deal was announced is hardly a yawn! Read Full Thread Follow Reply
19/11/2018 08:38	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]http://i67.tinypic.com/auwkdj.png[/IMG] Read Full Thread Follow Reply
31/10/2018 14:38	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 â€˜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 worldâ€™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. Read Full Thread Follow Reply

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