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
  0.05 1.29% 3.925 3,969 08:16:45
Bid Price Offer Price High Price Low Price Open Price
3.75 4.10 3.925 3.725 3.875
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -0.80 -0.05 19
Last Trade Time Trade Type Trade Size Trade Price Currency
08:16:32 O 3,969 3.95 GBX

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Date Time Title Posts
01/3/202116:37EME - Post Sale of Sugarloaf Asset36,412
06/12/201812:36Empyrean Energy22,252
24/8/201817:31Chat site for investors only144

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Empyrean Energy (EME) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-03-01 08:16:333.953,969156.78O
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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 3.88p.
Empyrean Energy Plc has a 4 week average price of 3.73p and a 12 week average price of 3.73p.
The 1 year high share price is 7.15p while the 1 year low share price is currently 2.88p.
There are currently 489,430,615 shares in issue and the average daily traded volume is 1,106,829 shares. The market capitalisation of Empyrean Energy Plc is £19,210,151.64.
safiande: HT / Digger, Thanks for your posts. EME turned down an offer from Conrad to double its stake in Duyung in favour of california dreamin´. It then diluted its stake by 1.5% to let Coro in so Tom may accept a further dilution to say 5% in the forthcoming farm out. He was happy to agree to only a 3% wi at Sugarloaf ( down from 6% to start with ) so he may agree to a lower % than 5% at Duyung. Borba on trend AMI is on the sidelines for the moment & Block 29/ 11 may never be drilled, at least not by EME as operator, so as per my famous recent bird in the hand post, Duyung will be a cash cow for EME for as long as they wish and will provide oodles of cash based on their ( say ) 5% share of the GSAs etc. Final full development go ahead is planned for mid 2022 leading to first production in 2024. A few here have stated that EME will never again be a producer after the SL program, which is of course very spurious reasoning as Duyung is a mega program with guaranteed revenue streams. As per their business model Conrad always planned to divest Duyung after appraisal drilling, but they now plan to stay in for development / production, because of the greatly increased resource, albeit probably at a lower wi to enable a large stake to be offered to a single potential buyer, probably a nearby major. EME´s statement on 22 Sep outlines the planned approach.
safiande: Peter Crosby, Re your post on debt finance earlier. Please see EME´s statement below from the last interim results in Dec 2020 related to the conversion of gas volumes at Mako to reserves based on GSA / FID milestones. It has been mentioned a few times in the past that inter alia reserves can be used for reserve based lending in the open market as a borrowing base. Whether they pursue this financing route or not for Duyung / China, in any event for a small AIM company to have such high accredited reserves would be remarkable and very prestigious. "The carrying value post-disposal of US$3.95 million at May 2020 has been transferred to Note 3 - Oil and Gas Properties: Exploration and Evaluation. The fair value of the project has been assessed at transfer date and there has been no change from the assessment made at 31 March 2020, when the carrying value pre-disposal of US$4.4 million was deemed to approximate fair value based on the purchase agreement detailed above, including costs capitalised since the agreement was entered into. While the successful appraisal drilling program conducted during 2019/20 resulted in a substantial increase in the contingent resources of Mako gas field, there are, in the Board's opinion, several milestones required to be achieved before an updated fair value of the project can be reliably and objectively assessed. These include steps required for contingent resources to be converted to reserves at final investment decision (FID) and also the steps required to finalise a gas sales agreement, which has been delayed by the current COVID-19 pandemic and resultant disruptions. Given COVID-19 and the current uncertainty and volatility in the energy markets, attempting to model fair value at this point in time would be intrinsically difficult and subject to a number of contingencies."
begorrah88: Joining judi in today's theme of trying to find a positive.EME may be due a significant spike up prior to any placing.CORO suddenly& without any catalyst, nearly trebling about 7 weeks ago before announcing a placing at .4p ( nearly double where it was sat prior to the sudden rise & possibly tying in with when negotiations were being concluded with its' acquisition) so, following a similar logic & knowing TK would struggle to find investors at this level as evidenced by last years wrong call about market appetite, I wouldn't be surprised to see a run up in the share price to around 7p before a dilution announced at a discounted price of around 5pJust a guess mind and this process would inevitably be followed by absolute silence from TK for the next long period.
blakieboy7: Eme share price would be considerably higher right now if we were participating
begorrah88: You as well now Curry?Dear me.If you really think people posting under multiple alias's can cause a share price to collapse you really are overestimating the power of a few pi's on a little read bulletin board.As for thinking I must be someone else just because I won't say TK is the new messiah & clap every time Saf posts garbage then that really is lame.I'm going out on a limb here but I think the fall in the share price is probably because there has been no update about a sale.
lazarus2010: well another sh1t day with no news. Seems to me that those selling have lost faith that Tom or should I say Conrad will get this deal done in the near term so they're selling up and investing elsewhere. Must say that there is nothing stopping Tom from doing a Proactive presentation to address the share price and provide updates on the strategy going forward, comment on what the Indonesian authorities approval of the reserves report means for the company and the development of Duyung and EME's strategy with regards selling all/part of our stake. He could also then update with regards any interest he might have received from other operators in South China Sea who might want to participate in the licence and hence use that interest to highlight that it is a very valuable licence. Instead he would rather just go fishing/surfing/watch Netflix and let the share price continually drop due to lack of news. It's no fekin good getting Malcy and any bb warriors to promote EME, it has to come from the top. If need be and he feels obliged to use Malcy then do a proper interview, make sure to use a wide angle lens though to get both in the picture at the same time!! HP, are you looking for praise because you called 3p? Or in reality are you all mouth and trousers and can't back up your comment that EME will not drill China licence?
safiande: Stew, I think that equal wi / cost is fair. I seem to remember that after paying 100% for Dempsey, which has happened , the terms got better i.e. towards 30% / 30% for Borba / Borba AMI. SGC has recently done a placing. They plan to drill Borba 1 - 7 late Jan and to release the third party resource estimate once the JVP is in place. It is probably too late for EME to get back in there, but there are several Borba type AMI wells to follow where EME might participate if Borba is a success. Shame not to pile in considering how much EME spent on Dempsey 1 - 15 & how much they learned as a result. The location of these AMI wells is already identified in one of EME´s prior presentations. As EME may never drill in China, at least not as operator, I am mainly focussing on Duyung & Borba at the moment and will post accordingly.
stewart4990: Malcy just now, Natural gas A number of readers have asked, and commented on why I have started putting the UK natural gas price at the top of the blog this week. I have been meaning to add it for some time but the recent rally forced my hand. The irony is that having had a huge run the first day in the blog signalled the top, at least for the very short term… Either way, UK NBP day-ahead prices which were as low as 8.6p on 28th May 2020 peaked at nearly 80p earlier this week, the highest since 2018, making an obvious and significant change for those focusing on gas production. Looking further down the curve, winter 2021 prices reached 53.7p, the highest close since Oct 2019 – reflecting a tightening gas market for next winter. The continued cold, settled weather drove total UK gas offtake on Thursday last week to over 400mcm for the first time since 2018. By comparison, demand of 417mcm on 1 March 2018 during the “Beast from the East” prompted the first ever Gas Deficit Warning to be declared, driving NBP briefly to all-time highs. Spot LNG prices in Asia hit a record (at the time) $21.45/mmbtu by last Friday 8 January amid a severe cold snap in Asia this was the highest level on record, equivalent to around 160p/therm based on current FX rates. Again this was up >9x from the exceptionally low level of $2.25/mmbtu as recently as April 2020. Prompt gas prices in Spain also went over €60/MWh – an equivalent level – as the country was battered by Storm Filomena whilst on 12 January, the market went to even greater extremes, spiking up to over $30/mmbtu, and one LNG cargo for immediate delivery was even sold by Total to Trafigura for $39.30/mmbtu – reflecting an almost total lack of short term supply. This unprecedented tightness in the LNG market is directly impacting the UK: I’m told total LNG cargoes delivered into the UK for January are likely to number only 3-4, versus 24 last January, an astonishing turnaround. Consequently the UK gas grid is currently highly dependent on pipeline flows and storage withdrawals and as at mid last week, 38% of gas supply came via pipeline from Norway, 16% from continental interconnectors and 13% from storage. UKCS production supplied only 22% and LNG only 11%. So whilst a gas price recovery was predicted by a number of key players what has been driving such a strong and rapid resurgence? Firstly, fundamentals have inverted completely since the spring/summer of 2020 when they were very weak, for example extremely cold temperatures in Asia have been driving record power demand levels, in turn driving very strong gas demand and even has seen reported cases of coal fired power stations being recommissioned. In a ‘you couldn’t make it up moment’, Government guidelines to keep windows open to reduce Covid risks in markets such as Japan are further strengthening heating demand literally blowing hot air into the atmosphere. We in Europe have seen cold and settled weather compared to seasonal norms (and exceptionally cold winter conditions in some specific areas around Europe, e.g. Madrid where measurable amounts of snow has settled most unusually). All this has led to withdrawals from UK inventories were near a 3-year high in the first week of January. Renewables and ‘trendy energy’ havent delivered quite as had been hoped for in some cases, indeed less windy weather has reduced wind power generation, accentuating high gas demand. Global LNG production growth slowed sharply in 2020, increasing by less than 6m tonnes to 361.4m tonnes, after years of sharp increases and some large LNG projects have recently experienced unplanned outages, further reducing supply (e.g. Hammerfest in Norway, Prelude and Gorgon in Australia, Arzew in Algeria). Short supply of LNG vessel capacity and congestion on the Panama Canal has reduced the availability of spot LNG cargoes, with the longer journey for US cargoes going to Asia soaking up capacity. Thus spot vessel rates have rapidly escalated, with BP recently paying $350,000 a day to charter an LNG tanker – the highest day rate in history for any commodity tanker (I understand LNG tanker spot rates are typically around $50,000/day). Where should we expect prices to go in the short term? Weather forecasts are warning of more cold weather to come over the coming weeks – with even the outside chance of a repeat of the Beast from the East and we know what effect that has on spot prices. I’m sure that investors are aware of all this but it is worth pointing out the recent price history as well as the potential for further strengthening of forward gas prices for this year and next as inventories fall faster than originally anticipated. As gas producing companies make trading updates in coming weeks it will be worthwhile finding out quite what benefit recent prices have meant to them and if they are taking any action to lock in prices this year and next.
safiande: Curry, I know that you are keen on a clean break on Duyung i.e. complete sale of EME´s wi of 8.5%, but so far we cannot rule out EME´s continued involvement in some way, albeit say at a reduced wi and maybe participation up to say phase 1 only covering the first five production wells ( 150 mmscf/pd combined ) at relatively low capex - shallow field etc, maximising lease operations. Tom´s last official statement on 22 Sep was that any sale would depend on the terms offered & that negotiations would be led by Conrad only. At that time Conrad had not started any sale plans. Pre drilliing Conrad planned to sell the lot. However post appraisal drilling both the Executive Chairman & the CEO have stated separately that they now plan to stay in probably at a lower wi, no doubt because of the vastness of Mako gas ( 1Tcf +? ) & the lucrative nature of the field. They have ultra rich private shareholders with very deep pockets. Coro may well stay in also at a lower wi considering their debt position. The HOA with Sembcorp was signed months ago. I now suspect that it is totally out of date & is currently being re-negoiated to reflect the new GCA project figures endorsed in Dec by the Indonesian regulator & recent high gas prices in the region, which could be the reason for the delay in signature of the GSA. Such signature is now quite close as per " Pro active " media & dear Malcy on 21 Dec 2020. On pricing I remember listening to a speech by Andrew Dennen to Coro investors where he stated that the GSA is typically a long term contract of up to 20 - 25 years. Because of its length it contains provisions allowing for revisions to the program, price etc every 4 -5 years or so. Furthermore it contains a yearly price revision clause allowing for inflation etc. The arch de-ramper here has accused Tom of refusing to provide any updates which is of course yet more lies from begorrah88. Based on the above I am more than happy to rely on the professionals to finalise the GSA and to await news whenever they deem appropiate.
lazarus2010: Curry, you're possibly correct in terms of timeframe to sign the final contract however I would think that as soon as a final offer has been accepted by the consortium it will be agreed with a non-refundable deposit. This locks them in for the period allowed to sign the deal and pay the final balance of the cash. We imho just need the announcement that the deal has been concluded and the expected value back to us to breathe some life in to EME share price Once that deal is agreed TK can then go and start lining up his ducks for a China drill with the possibility for JV partner(s) to come on board, and they will do so in the knowledge that if necessary EME can go it alone as soon as the cash comes in. If the Duyung buyer is AAA e.g. BP, Shell, Chinese or any other State owned gas company then this would improve our hand for any China JV negotiations and could even persuade TK to borrow the initial cash required to set things in motion. We do have that facility lined up, don't we?
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