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Gary, if you don’t know, you do realise the irony right? You are criticising others for not backing up their post but you are no different!
Do some research, interest was reduced as part of the CORO farm in deal.
Duyung value can only be attributed if the project is progressed through the commercial steps through to sale. as it stands we have been given timelines which have rarely or ever been achieved.
The GSA is required simple as that, why is it taking so long?
Unfortunate result, that’s how it goes with oil exploration. The result I can take but yesterdays sell actions now confirmed as a leak is shambles. Not rushing for the door as think we could see 6-8 p for Duyung if they can close out a deal there this year
wressmycash when a holder... just 5 days ago
Yes it’s worth a punt because the sp will be propped up in the gas resource
This is China so hopefully a fast sale.
The Chinese do not hang around for anyone
Good timing
They seem to be ahead of schedule so gusher detection news could be anytime
Going through now
Looking good
Great sign rns warrants exercised
I think we hit oil in a big way here
Wish I had cash to buy more
From the spud date, the Jade well is anticipated to take approximately 26 days to drill to Total Depth on a trouble free basis. There are no overly challenging drilling zones anticipated with the Jade well design and program. If the Jade well intercepts a hydrocarbon zone, as anticipated, then testing is planned to take approximately a further 2 weeks.
26 days takes us to 05/05/2022
update on 19/04/2022
'Drilling operations continue to run smoothly and safely, with progress to date right on schedule".
First Equity Comment - Empyrean’s share price remains behind the curve on the potential of the Jade Prospect and very near-term high impact news-flow. Investors seems to have overlooked the high geological chance of success at Jade at 41% and potential of a discovery at Jade then de-risking the nearby and much larger Topaz prospect. This is all against the backdrop of stubbornly high oil prices near $100 per barrel.
A discovery which confirms the P50# estimated oil in place of 187m barrels at Jade, assuming a discovery value of $10 per barrel, with an estimated 55% recovery rate and on the basis that CNOOC backs in for its 51% interest, could be worth we estimate a net US$388m. This computes to a value per share of 58p per share. Confirmation of a P10# discovery of 395m barrels would increase this figure further to 123p. Indeed, given the CNOOC discoveries nearby, a P10 or better size discovery seems more likely.
A drilling success at Jade, would focus investor attention on the potential of the Topaz prospect, which has a P50# estimate of 434m barrels, which therefore adds even more potential value to Empyrean Energy and strengthens the investment case (+135p to +278p per share on a P50 or P10 discovery basis respectively).
With these thoughts and calculations in mind, the possibility for the shares to accelerate from the current share price of around 11p, to above 100p on drilling success at Jade and de-risking at Topaz, we recommend the shares as a ‘Buy’.
# P10/P50 estimates of independent consultants Gaffney, Cline & Associates
Good starting point is the telegram group pinned messages, not sure can post the link to the group here but search Twitter and comes up. Also either first equity or cenkos recent broker notes, some hefty figures being talked about.
partly based on the GSA yes but if the metrics can be agreed then purchase price is simply adjusted based on final GSA agreement.
guess its highly unlikely but with CORO's recent statement that they are actively seeking an asset sale and the delay who knows.