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London South East - Oil & Gas Investor Evening: Malcy, Echo, Savannah, SDX
Andrew Knott, #SAVP speaks at London South East's Oil & Gas event


Empyrean Share Chat (EME)



Share Price: 9.25Bid: 9.00Ask: 9.50Change: 0.00 (0.00%)No Movement on Empyrean
Spread: 0.50Spread as %: 5.56%Open: 9.25High: 9.25Low: 9.25Yesterday’s Close: 9.25


Share Discussion for Empyrean


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Augustus_
Posts: 214
Opinion:Strong Buy
Price:9.50
RE: 1 Share Buy
15 Oct '18
Let's pray for 2 blockbuster RNSes then
 
Gazza4563
Posts: 1,231
Opinion:No Opinion
Price:9.50
1 Share Buy
15 Oct '18
I have seen this before, then a RNS is delivered with very good news
Kalahari11
Posts: 174
Opinion:Strong Buy
Price:9.75
XST funded for Alvares re : entry
10 Oct '18
XST fully funded for Alvares re-entry this 4Q :

"Ann: Successful Placement for Sacramento Basin Operations" Oct 10

• Xstate is pleased to advise it has received commitments to raise $1.0 million (before costs) by way of a two tranche placement •

Proceeds will be used in part to fund the the Company’s share of operations in the Sacramento Basin and for working capital purposes •

The raising will enable the Company to meet its commitment on the Alvares (Xstate 21% working interest) project subject to the approval of a work program by the joint venture parties and Xstate is now funded for its share of the re-entry well •

Activities are underway to determine how best to evaluate the 1,500 metres of gas shows encountered in the Alvares -1 well

"Activities are underway to determine how best to evaluate the 1,500 metres of gas shows encountered in the Alvares -1 well"

"Alvares Conventional Appraisal Project – Xstate 21%

The Alvares Conventional Gas Prospect is an appraisal project testing the Alvares-1 gas discovery drilled in 1982 on a large structure mapped on 2D seismic.

The objective is to test strong natural gas shows in a 1982 well over more than 1,500 metres below a thick, sealing shale at 2,350.

Wireline log data from the Alvares-1 well indicates several zones with conventional gas reservoir potential.

The operator advises that regulatory approvals have been obtained and intial program being planned is to test the integrity of the existing casing, then log through the casing to select performation zones and test the main objective.

Https://hotcopper.com.au/threads/ann-successful-placement-for-sacramento-basin-operations.4482951/
LAWRENCE186
Posts: 149
Opinion:No Opinion
Price:9.50
RE:SP
9 Oct '18
Announcement by SGC on Hotcopper, 3b, BOD getting paid in shares at 4 cents, hopefully an incentive to pull their finger out of backsides and get the gas flowing.
Gazza4563
Posts: 1,231
Opinion:No Opinion
Price:9.25
RE: SP
9 Oct '18
Volume buys, MM's playing around or leaky news
jungerns
Posts: 1,672
Opinion:No Opinion
Price:9.375
SP
9 Oct '18
Whats prompting this little spike today ??
Kalahari11
Posts: 174
Opinion:Buy
Price:8.975
RE: Re entry of wells :
8 Oct '18
30th August 2018 : Oilvoice :

Empyrean Energy: Approval to Test the Potential For Over Looked Natural Gas in the Alvares 1 Well in the Sacramento Basin, California

https://oilvoice.com/Press/21510/Empyrean-Energy-Approval-to-Test-the-Potential-For-Over-Looked-Natural-Gas-in-the-Alvares-1-Well-in-the-Sacramento-Basin-California
Kalahari11
Posts: 174
Opinion:Buy
Price:8.975
Re entry of wells :
8 Oct '18
Gazza4563
Posts: 1,231
Opinion:No Opinion
Price:8.75
GCA
8 Oct '18
Come on GCA, we need P90's on your audits
Gazza4563
Posts: 1,231
Opinion:No Opinion
Price:9.025
RE: Director buy
5 Oct '18
RNS this month

surely i cant miss this date now :-)
Orchy
Posts: 4,634
Opinion:No Opinion
Price:9.025
RE: Director buy
4 Oct '18
Gazza4563
Posts: 1,231
Opinion:No Opinion
Price:9.025
RE: Director buy
4 Oct '18
RNS tomorrow.
Augustus_
Posts: 214
Opinion:No Opinion
Price:9.025
Director buy
4 Oct '18
John Laycock takes 100k shares at 9.5p, presumably no placing in the pipeline? RNS not showing up on HL or here, displays on ADVFN though.
keep-it-real
Posts: 1,691
Opinion:No Opinion
Price:9.25
Eme sp not budged at all
4 Oct '18
Nm
Kalahari11
Posts: 174
Opinion:No Opinion
Price:9.25
RE: CRC Analyst day presentation 03.10.
4 Oct '18
In addition :

At the CRC presentation made in New York yesterday, Wednesday 3rd October.

Under ' Strength of Portfolio Allocation Strategy Supported by Diverse Assets ' is included :

'' Sacramento Basin

Gas optionality

Large scale gas asset with significant exploration potential

Sustain base via low cost workovers and use JV's and technology to grow '.

# 1 in Sacramento Basin. 86 % of basin production. 85 % of basin mineral acreage. ''

'' Multi TCF impact exploration ' Please DYOR
Kalahari11
Posts: 174
Opinion:No Opinion
Price:9.25
RE: CRC Analyst day presentation 03.10.
4 Oct '18
Kalahari11
Posts: 174
Opinion:No Opinion
Price:9.25
RE: CRC Analyst day presentation 03.10.
4 Oct '18
From HC : Very interesting read - I screenshotted slide 86 in particular for those interested.

What do we think this does in terms of validation of the field?
Kalahari11
Posts: 174
Opinion:Strong Buy
Price:9.25
CRC Analyst day presentation 03.10.
4 Oct '18
With thanks to Safiande on ADVFN EME forum :

'' CRC Analyst day presentation Oct 3.

CRC is the largest gas producer in California. Operates 86% of the gas production in the Sacramento Basin & 85% of mineral acreage so they know their own backyard.

They are the Tulainyo operator. On trend with Alvares. Very encouraging also that they are interested in Dempsey analog prospects.

Page 86
Impact exploration potential

▪ Multi-TCF Tulainyo prospect plus analog, oil upside

▪ 5-7 “Dempsey” analog prospects

Http://www.crc.com/images/documents/IR/Financials/181003-Analyst-Day-Presentation.pdf ''
Gazza4563
Posts: 1,231
Opinion:No Opinion
Price:9.25
RE: CNOOC PSC signed
3 Oct '18
Rathole

Will you pack it in. Why would they sign the agreement without looking into EME for gods sake cocka

Dempsey is not our main event, china is with indo in 2nd place

You dont know the funding they have, only what they decide to tell us. If you are invested, sit back and relax, If not go to the UKOG BB and make your comments there. You will love it there.
coopgare
Posts: 217
Opinion:Hold
Price:9.45
RE: CNOOC PSC signed
3 Oct '18
At that water depth it's likely to be a midwater semi, not sure why you think drill ship although it could do it but would be costly.

Not sure why you think the 3rd party audit suggests they're going it alone - I personally wouldn't go down that road as it's a very big risk for a company the size of EME.

Best get a farm-in who takes all the upfront commercial risk - all you give up is some equity in the asset.

We also still need to wait and see what they're going to do with the Indo asset.

I was wondering when the negativity was going to start and there it was in your last post.

You're obviously a smart guy but you're also an idiot if you think we all can't see you for what you really are....son.

I'm now blocking you as I'm not going to waste any more of my precious time with you.

Have a happy life.

Coop
RatHole
Posts: 338
Opinion:No Opinion
Price:9.45
RE: CNOOC PSC signed
3 Oct '18
Not sure of Bathymetry Coop? LOL
Try this
http://www.cnoocltd.com/art/2018/9/30/art_32091_15261101.html?arpegdgtdgwzfkuo
300m~600m
I dont see many drill ships in the area, but no doubt CNOOC have the contract.
The question really is - do they go it alone - or farm out?
Now they have contracted GCA for a STOIIP Audit suggests to me that there is no farminee to hand, as you know farminees run their own probalistics, always.
The market appears to agree.
There may well be a time to buy, but I think not yet.
Best you recast your numbers and study your investments more carefully son.
Any comment on Dempsey?
Take Care
coopgare
Posts: 217
Opinion:Hold
Price:9.45
RE: CNOOC PSC signed
3 Oct '18
Rathole, the terms of the PSC is to drill to 2500m or the basement which essentially makes this a relatively shallow well.

I'm not sure what water depth is (<300ft would make it accessible for a jack-up) but the rig market is very good at the moment - we're certainly not seeing anything like the $4-500k/d we were seeing prior to 2015 - more likely in the region of $150-200k/d - that's true for the UK - probably cheaper in China as they'll be using older less regulated rigs. You'll be looking at a total spread of around $300-$450k/d at any point through the operation. Mob / demob costs can be significant but it will depend if the rig is coming off a contract prior to our operation and is going to a contract afterwards.

The times are typical of a UK 10,000ft exploration well (I'm assuming they'll core from above and through the reservoir). We'll likely be at the lower end of the times (i.e. 20 days).

If they find reservoir, then there will be a comprehensive logging programme as well as the potential for a well test . At that point they'll make a decision to potentially sidetrack to do more appraisal. All this will add significantly more cost - as you know, however, If we get to that point, we'll all be very very happy.

Coop
RatHole
Posts: 338
Opinion:No Opinion
Price:9.45
RE: CNOOC PSC signed
3 Oct '18
Coop, care to share your numbers on 25 day dhc semi-sub poke?
My numbers do not come out at anything like $8~10m given mobe/demobe in a quiet activity area, but happy to be corrected.
Perhaps you have used jack up costs?
Timing wise I agree, the market will want to push on, if these prospects are genuinely drill ready, funding is the only hurdle.
Take Care
coopgare
Posts: 217
Opinion:Hold
Price:9.45
RE: CNOOC PSC signed
3 Oct '18
I'm impressed Rathole, an objective post. I expect a farm-in with a full carry for Empyream for an equity share (the upside is considerable). Because of the subsurface work already done I have to assume that they already have target (s) in mind. I would imagine a vertical well with the option to multi sidetrack.

Planning is typically around 6 months prior to spud with a dry hole cost of $8-10MM (I've done a little more checking). That's essentially what the farm-in is betting. If they find anything and test / sidetrack then it's all upside.

Once they announce who the farm-in is and what the terms are then I think the SP will significantly shift upwards.

I expect initial timing of around 20-25 days (dry hole). I would also expect EME (cnce they announce a farm-in) to act relatively quickly (especially with a full carry). The design work can be done (in the main) at any time but the programming will need be done nearer the time once they know what rig they're using.

I'd be interested to hear your thoughts on cost / timings.

Coop
RatHole
Posts: 338
Opinion:No Opinion
Price:9.25
RE: CNOOC PSC signed
3 Oct '18
Fair point tq. EME would have to have demonstrated financial capacity to enter the psc imv.
The Chinese do not take 'IOUs'.
This may have been broker/fund backed or otherwise surety offered.
Hopefully that representation is tabled shortly?
The company would have been working on funding all year and are well aware of the commitments they are entering into as provided in the annual accounts.
Surprise tax rebates may have kept the lights on, but those funds should be largely expended by now imv.
All indications point to a sole risk drill, and good on them IF they can get it backed - a farmin will not excite the market as there is no equity leverage after 51% CNOOC back-in imv .
They have till mid 2021 to drill so the market will 'come back later' imv.
Take Care




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