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Empyrean Share Chat (EME)



Share Price: 11.95Bid: 11.70Ask: 12.20Change: 0.00 (0.00%)No Movement on Empyrean
Spread: 0.50Spread as %: 4.27%Open: 12.38High: 12.38Low: 11.75Yesterday’s Close: 11.95


Share Discussion for Empyrean


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bigspike
Posts: 142
Off Topic
Opinion:No Opinion
Price:11.95
Duel completion
Fri 19:58
Just listened to GJ’s interview and that’s the first time I’ve heard him talk about duel completion. When this well is fracked can they then complete and frack another zone and co mingle?
As for China, I’m expecting them to farm out half the licence To fully fund drill costs. For example Eco Atlantic hope to farm out their Guyana licence to Total, 25% for 12.5m! I think eme will do something similar and the share price will respond to that. Eme’s China license will be very prospectus given its adjacent to a billion barrel discovery, similar to Eco’s.
 
RatHole
Posts: 138
Off Topic
Opinion:No Opinion
Price:11.95
RE: EME:-
Fri 19:43
Lobon is correct of course imo.
A placing below 10p must be very close given the net cash postion at 30th Sept and costs since.
Missed opportunity to raise at 15p in October and now may struggle to get wholesale funding from the city on the back of the Dempsey Duster, we will know shortly I suspect.
Take Care
Gazza4563
Posts: 302
Off Topic
Opinion:No Opinion
Price:11.95
RE: Indonesia
Fri 14:58
That's true Buffon, they cant.

Let the shorters keep moaning about moving up so they can cash their profits in.

Why don't they cash out now and leave this board, so REAL investors can discuss whats happening.
Mooncheese
Posts: 1,716
Off Topic
Opinion:No Opinion
Price:11.95
RE: Indonesia
Fri 14:54
I would normally tend to agree with you, Orchy - don't sell Indonesia too early, far too good an asset.
I'd rather put the comment in as a suggestion that our current cash shortage might not be met by a placing but by 'divestment' which the interim report alluded to.
However, off the top of my head, I think we need about US$40 million to develop China. I thought this would come from a placing off the back of the successful Dempsey/Alvares results (and with our sp well over £1). However, I can now see TK selling something to get the money in - if he gets a good enough offer. 'Something' could be some of Indonesia or some of California; equally, both California and Indonesia have additional prospects that we could probably buy into more. No idea which way TK and team will go on this. But would not be surprised by some deals undertaken soon i.e. Q1 / Q2.
TheBuffoon
Posts: 496
Off Topic
Opinion:No Opinion
Price:11.95
RE: Indonesia
Fri 14:37
My understanding on Dempsey is that we can£t go back to lower zones once we move up to a higher zone. This is a one time only chance to maximise the flow from this zone. Once we move up to the X zones we can£t go back down to work on the permeability. We can comingle production from various zones though, so it£s worth taking our time.

I understand why some get frustrated, but looking back you£ll not regret it I£m sure. Don£t forget, we are learning about the geology for the significant zones above, not to mention other areas.

Buffy
Orchy
Posts: 4,507
Off Topic
Opinion:No Opinion
Price:11.95
RE: Indonesia
Fri 14:07
rather see this developed with the shallow gas play funding further exploration.
Orchy
Posts: 4,507
Off Topic
Opinion:No Opinion
Price:11.95
RE: Indonesia
Fri 14:07
why sell indonesia ? from Zengas post last year.

Mako has tested successfully. A **previous development scenario** was for 3 horizontal producers. Given that the test equipment constrained the 10.9 mmcf/day stabilised flow rate, the potential is for greater. The field is 340 km2 and the company has said results are better than the original prognosis. I had reckoned that 3 H/wells should pump out a combined 50 mmcf/day (an average of 16.8 mmcfd/well) and at up to $7.50/mcf Indonesia and $16/mcf Singapore using an average $10/mcf this would generate major revenues. The field already is close to existing infrastructure. Pre development for this, I have £70m target for EME or circa 17.5p.
Mooncheese
Posts: 1,716
Off Topic
Opinion:No Opinion
Price:11.95
Indonesia
Fri 13:55
Good stuff, Coop. Thanks.

Now, a reminder of our interests in Indonesia from the Conrad Petroleum website - presumably we own 10% of the additional prospects (and perhaps assets soon to be 'divested' to raise cash for China drilling?):

'....Conrad is the operator and 90% owner of the Mako South £1 well and the Duyung PSC together with AIM listed Empyrean Energy Plc who is the 10% owner.

Additional Prospects in DUYUNG PSC

Based on an analysis of the latest 2D and 3D seismic, additional high-impact exploration prospects have been identified in Duyung PSC. These prospects are located among the deeper synrift sequences and offer potentially recoverable reserves of more than 2Tcf of gas with condensate or close to 1 billion barrels of oil.'
coopgare
Posts: 143
Observation
Opinion:Hold
Price:12.00
View Thread (7)
Dempsey Frac
Fri 13:06
I just wanted to clarify a few things I've read on this and various boards about the Dempsey Frac.

1. The Frac does not increase the porosity of the rock, the porosity is the porosity - this is where your hydrocarbons are stored.
2. The Dempsey we has poor permeability - this is a measure of how well the pore space (i.e. porosity) of the rock is connected. The Frac will increase effective permeability by an order of magnitude (above 10 but below 1000) - depends if it connects to natural fractures which may be present.
3. A vertical well is the easiest and cheapest to Fracture stimulate - we don't need to worry about the magnitude of minimum and maximum horizontal stresses as we would in a highly deviated well.
4. The frac will grow vertically until it reaches a bounding stress - a stress plot can be obtained from the gamma ray which is representative.
5. The frac will also grow radially (or tangential) to the wellbore.
6. What limits frac growth is pressure and rate - hence with a frac spread which will consist of multiple high pressure pump units all connected in parrallel to a single high pressure manifold.
7. The frac could potentally grow 200 - 500ft vertically and 300 - 500 ft radially or more - a hell of a lot better that a few perforations that will only go 6 to 8 inches into the formation - we don't know what perforation skin is present and what damage zone is present from the drilling - we're currently having to produce through these - the stimulation removes all these barriers to flow.

Risks:

1. A CBL (cement bond log) will be required if it hasn't already been conducted to ensure the integrity of the cement bond and prevent the frac propagating parallel to the casing / liner - this is one of the reasons that water tables can become contaminated
2. Because this is a sandstone, they'll need to use a proppant to ensure that once they create the fracture, they can keep it open. Screen out is the big risk here - this is when you don't get all the proppant into the formation and you leave some in the casing / tubing - They would need to rig up coil tubing to go in and clean out the proppant prior to flowing the well - adds additional time and cost

The extended flow test will provide a lot of quantitative information with regards volumes. Don't be too surprised that after the fracture stimulation that the connected volumes increase as well as the permeability (flow rates); remember we'll be fraccing vertically as well as radially.

Coop
Scarface72
Posts: 377
Off Topic
Opinion:No Opinion
Price:12.00
View Thread (2)
RE: EME:-
Fri 12:47
Some people have clearly got squeaky bum time going on... over invested in stocks they desperately need funds back urgently.

People who think... just ignore the huge gas resources at the lower levels. I want to take my profits now - so please just get the gas higher up... so I can sell my shares for a small profit and get on with my life.

Urm... No. I don't think so. I want the mutha load please... don't let dim wits change those plans cause the haven't got the nerve to stick it out a few months.

If you want quick results... try crypto... you wont get quicker than that.

Ok rant over.




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