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Why are we left guessing
The speed of the drill won't slow, but as the get deeper the whole process is naturally slower, as each time the drill string is removed it takes a lot longer. and then installing the next casing is obviously much deeper which also takes longer
Better than expected update this morning, the gas clouds are there, and the drilling campaign is running smoothly. well done EME
Empyrean CEO, Tom Kelly, stated:
"The first technical objective of the Jade well has now been drilled. The validation of "gas clouds" through the presence of elevated methane levels in exactly the depth zone we interpreted on the excellent quality seismic data proves that the gas clouds exist and supports the Company's pre-drill interpretation that the methane is probably coming from light oil in the anticipated reservoir section. This is a major box now ticked, if we are to make a light oil discovery at Jade. The comparisons to nearby CNOOC discovery wells look very compelling. Drilling operations continue to run smoothly and safely, with progress to date right on schedule".
I wouldn't get nervous about seeing any chunky sells at any point here, there are some lth that have been in this for many years and are now sitting in very good profit. It's perfectly natural that they may want to derisk a little at some point prior to the drill results :-)
Link to Cenkos broker note 11/04/22
https://gofile.io/d/tHbE90
link to brokers note
https://gofile.io/d/tHbE90
Anyone thinking about investing in EME should check out these brilliant short videos that Steve Larratt has put together.
Steve has spent hundreds of hours researching the geology surrounding Jade & Topaz, and he's very kindly put his extensive knowledge of the area into simple terms in a few short compelling videos.
There’s also some other excellent information regarding valuations, Gaz clouds, Updips and what to expect from the drill itself.
EME and what we can expect into the drill of Jade
https://www.youtube.com/watch?v=wSh_Impm83M
Empyrean Energy and the Geology
https://www.youtube.com/watch?v=sv6bc_SxtfM&t=5s
EME basic information
https://www.youtube.com/watch?v=lYKIkHlSCyY&t=12s
Updip Traps
https://www.youtube.com/watch?v=GdXes3m2uLQ
Why Gaz clouds are important to #EME on their Jade and Topaz prospects
https://www.youtube.com/watch?v=nRyVchdZzlo
#EME Drilling of the much anticipated #JADE has now commenced
@EmpyreanEnergy
'One of the highest impact wells of 2022'
Current SP 11.2p
Brokers estimate of £1.93 with P10 success at #JADE
GAME ON
Rafauo
You are absolutely nailed on there my friend. the current share price is madness considering we are about to drill the highest impact drill of 2022 with and absolute monster of a target.
And we have a proven gas asset in indonesia, that should return us around $30m per year if we choose to take it to production.
anyone buying in now is almost getting a free bet on the Jade drill
"Towing operations have unfolded a little quicker than we expected and we are now counting down the hours until we spud one of the highest potential impact and eagerly anticipated wells of 2022. We look forward to providing updates as the drilling starts and further progress is made. It is no mean feat that Empyrean, guided by Executive Technical Director -Gaz Bisht, was awarded the Block 29/11 permit, successfully carried out 608km2 of 3D seismic, conducted oil migration studies, gas cloud studies, and seismic inversion studies and is now about to drill a 395 million barrel potential in place conventional light oil target at Jade."
"Towing operations have unfolded a little quicker than we expected and we are now counting down the hours until we spud one of the highest potential impact and eagerly anticipated wells of 2022. We look forward to providing updates as the drilling starts and further progress is made. It is no mean feat that Empyrean, guided by Executive Technical Director -Gaz Bisht, was awarded the Block 29/11 permit, successfully carried out 608km2 of 3D seismic, conducted oil migration studies, gas cloud studies, and seismic inversion studies and is now about to drill a 395 million barrel potential in place conventional light oil target at Jade."