Member Info for ART123

Did I read this right? Was the placing at 2p? I can buy at 1.955p now and sells are at 1.877p. Silly management.

As I said, the placing price is a little strong for the market and newsflow here. The placing price should in theory draw a line under which the share price shouldn't fall but that looks like it is going to be difficult here. In fact as I type this the buy price is already below the placing price. Shame. Show over confidence by the management. They should know better.

If anything this placing is at a higher price than expected. I was hoping that the SP would drop back to around the 1.5p/1.6p region and a placing at that sort of price would have been quite acceptable.

Now with this placing at 2p the directors will have to work hard to keep the SP above this price starting with the presentation next Wednesday. Then the drill plans that were due for Q3 and Q4 will need to be brought forward fast. With no news it is going to be tight to stay above 2p.

AJMO

28 April 2022
Empire Metals Limited ('Empire' or the 'Company')
Placing to Raise £1.7M to Accelerate Exploration at the Company's Eclipse and Gindalbie Projects
Empire Metals Limited is pleased to announce that it has raised £1.7 million before expenses by way of an oversubscribed placing of 85,000,000 new ordinary shares of no par value in the capital of the Company (the 'Placing Shares'), with new and existing shareholders in the Company, at a price of 2 pence per Placing Share (the 'Placing').

https://www.investegate.co.uk/empire-metals-ltd--eee-/rns/placing-to-raise--1.7m-to-accelerate-exploration/202204280808546774J/

Not too much discount.

Well results



"Excellent quality reservoir rocks in the Zhujiang Carbonate target were intersected as prognosed. The interpretation from logging while drilling (LWD) and mud logging equipment indicated no oil pay in the target reservoir. The well reached a final total depth of 2849 metres MD at 6:00am this morning local time. Current operations are the running of wireline logs. The wireline logs are not expected to change the initial interpretation of no oil pay seen on LWD."

Very funny the interpretations some posters made of the drop yesterday.

By the way I am not holding here. I have learnt over many years of offshore oil drills never to hold any shares during the drilling phase as the usual result is no result.

ATB

· LH 17-2-1 well at the Jade prospect reached final total depth of 2849 metres Measured Depth ("MD") in Pre-Tertiary granitic formation

· The interpretation from logging while drilling (LWD) and mud logging equipment has indicated no oil pay in the target reservoir

· Current operations are running final logs before commencing demobilisation of the NH 9 rig

https://www.londonstockexchange.com/news-article/EME/jade-well-reached-total-depth/15426693

Can someone please explain briefly exactly what this dispute is about. From the beginning. Cheers in advance.

This could be 2 or 3 times the current share price just on the non-operated assets - albeit with the current high price of oil though if you go back to 2011 to 2013 oil was between $90 and $100 for 3 years so this is nothing new.

Even just bringing the already drilled and tested State 16-2LN-CC into production could see a 100% increase in production and there are already plans to drill 3 more wells in H2 this year.

This excerpt is taken from the recent presentation which can be found on this link:

https://wp-zephyr-energy-2020.s3.eu-west-2.amazonaws.com/media/2022/02/ZPHR-LSE-FEB-22.1.pdf

"• Recent successful drill and completion of the State 16-2LN-CC well in Q4 2021
– First test of HSRP completion on a horizontal wellbore in the Paradox Basin
– A ”proof of concept” which demonstrated a wider potential development of up to 9
reservoir zones targeting a potential 1 billion boe in place
– Production test demonstrated rate-constrained daily high rates of 1,083 boepd, with
simulation modelling suggesting plateau rates of 2,100 boepd once equipped
• Zephyr plans to drill 3 additional Paradox wells in 2022 to further delineate the scale of the
project :
– 1 delineation/development well targeting the Cane Creek reservoir in the WSU
– 1 delineation/development well in the historically prolific Cane Creek Field (new acreage
south of the WSU)
– 1 exploration well targeting the WSU's shallow Paradox Formation
– 150 additional locations across 9 reservoir targets to date – significant additional scope
and scale to be unlocked in the next three years upon delineation and exploration success
– Will consider JV and strategic partnerships for expedited development of the project"

The gap in the COPL chart at 20.25p stood out like a sore thumb at the time. I thought at one stage that it was going to close on the same day it was created by the 'significant discovery' announcement on Mon 10th Jan when the share price started to fall back but it only fell back to 23.25p and then continued upwards to settle over 30p for a while.

With the size of the discovery, I just couldn't see any way that the gap was going to get closed but it seems to have found a way - somehow - and lo and behold, over three months later, the gap has just closed over the last couple of days. Extraordinary.

Never mind, the good news is that there is another gap to close and this time it is upwards - namely a gap from 14th April at 23.50p. Don't all get too excited please.

1 day for me (less than that right now) and I expect that goes for a lot of today's buyers.

I'll take 3p anyday.

A podcast will be good as I see the CEO has done some before and that will certainly get things moving upwards at a faster pace.

All profit on production minus single figure lift-off costs and oil is back over $100 barrel so a rerate is needed anyway.

2 million buy just gone through from 8.30am.

Maybe a podcast might be a good idea to get things moving.

As soon as we get past the grumpy old b*ast*rds this should rerate nicely.

Plenty of buys going through.

Further news/progress within a week or so.

All buys now as punters wake up to the re rate potential here.

No one around and some are actually selling on this news despite all trades showing blue.

This is actually a very good RNS and should give a healthy re-rate.

"Location construction is nearing completion and the drilling rig scheduled to arrive on location in the coming days. "

"... completion and testing operations on the Fouke #2 are nearing completion with the well anticipated to be placed into production within the next week."

They could have just extended the warrant exercise period by three months with this news. They will soon be exercised now.

Tiny market cap and importantly:

"The Lease acquisition and drilling costs for the Grant East # 1 have been internally funded."

Pretty good news.

· 160 acres of Leases secured
· Development plan completed for up to 8 new wells
· Primary target is the Permian Age Clear Fork formation
· 3 wells being permitted

· First well to be spud in the coming days

The Grant East Lease is newly acquired acreage located within the Eastern Shelf of the Permian Basin of West Texas. The Lease consists of multiple units which contain a total of 160 acres, with rights to all depths. A drilling and development plan has been completed that consists of 8 well locations drilled on 20 acre/well spacing. However, some offset acreage has been developed down to 10 acre/well spacing providing for the potential of up to 16 new wells on the Lease. (Optimal spacing will be determined based upon the initial well results).

The first well on the Lease (the Grant East #1) is planned to test the Clear Fork (primary) and San Andres (secondary) formations, both of which are prolific producing formations in the area. The Clear Fork contains three distinct members (Upper, Middle and Lower) which are located between 2,500 feet to 3,200 feet below the surface. All three members are productive in offset acreage and targets in this initial well. The Grant East #1 is anticipated to take approximately 7-10 days to drill and complete if successful. After completion, the well will be fracture stimulated to enhance its productivity and then tested, prior to being placed into production. From spud to production start-up is anticipated to take between 30-45 days in the success case.

Nostra Terra benefits from operating in this area for several years, including drilling the "Twin Well" near this acreage, which reached payout (where the full cost of the well was recovered) in under a year, during a lower oil price environment.

The Company is permitting 3 wells initially with additional wells to follow depending upon the results and subsequent spacing requirements. Location construction is nearing completion and the drilling rig scheduled to arrive on location in the coming days. The Lease acquisition and drilling costs for the Grant East # 1 have been internally funded.

Finally, completion and testing operations on the Fouke #2 are nearing completion with the well anticipated to be placed into production within the next week.

According to this article - link attached - it is the same person.

https://wikibiography.in/david-minchin-wiki-bio/