Member Info for Orchy

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Total Market Solutions
@TMSreach
·
Aug 14
We are pleased to provide details of an Investor presentation lunch/update and Q&A session for
@CoroEnergy
:

?? Wed 4th Sep
? 12.30pm
?? Moorgate

Dr Pierre Eliet from #CORO Asia will be attending From the Business Development Team

If interested, please DM
@DavidBurton1971

imminent 2 x wells in indo.... CORO waking up as well

Coro Energy/Empyrean Energy
An update this morning from the Duyung PSC, West Natuna Basin offshore Indonesia as things are hotting up in the area. Coro and Empyrean have announced that well planning is complete and the Asian Endeavour 1 jackup rig has been contracted for the campaign. For Coro the nature of the farm-in is important, the deal gives them an interest in the field, the exploration adds cream on top and the farm-in capital is going into the ground not counterparties pockets, a smart deal, just what one might expect from industry expert James Menzies.

It will be a two well programme planned to 1) test the Tambak exploration prospect and appraise the central area of the Mako gas field (Tambak-1) and with a 45% chance of technical success and a gross mid-case prospective resources potential of @250 Bcf. 2) will be a large step-out (over 13km) to appraise the southern area of the Mako gas field (Tambak-2) and is primarily aiming to move 3C resources to the 2C category and push the 2C category into 1C.

With costs of $15.5m on a dry hole basis going up to $19m fully tested, Coro is fully funded for the programme which with the rig expecting to mobilise in late September makes for an exciting time for both sets of shareholders.

reacting well to the update.

Malcy has asked for a meet up while TK and Gaz are over for the AGM so hopefully that happens. This feels very much under the radar at the minute so bit of coverage can only be a good thing, expect Malcy to cover in his blog along with CORO.

Empyrean CEO Tom Kelly commented, "The upcoming drilling campaign at the Duyung PSC in Indonesia promises to be very exciting and somewhat unique in that we are combining a lower risk appraisal component with a high impact exploration prospect. In our view, the main aim of the drilling is to appraise the Mako gas discovery and convert the current 3C resources into 2C resources. This alone would increase the value significantly at Mako. Any new discovery at Tambak would be an absolute bonus. We look forward to providing updates as this exciting drilling campaign swings into action shortly."

Highlights:

· Planning for two well programme complete and approved by Duyung Production Sharing Contract ("PSC") partners and the Indonesian authorities

· The programme will:

Ø test the Tambak exploration prospect and appraise the central area of the Mako gas field - Tambak-1 (mid-case resource potential of circa 250 Bcf); and

Ø perform a large step out (over 13.5 km) to appraise the southern area of the Mako gas field - Tambak-2 (gross 2C resources of 276 Bcf (48.78 MMboe) of recoverable dry gas in the Mako field with gross 3C resources of 392 Bcf (69.3 MMboe)

· Asian Endeavour-1 jack up rig contracted for the drilling campaign

· Initial well spud anticipated in October 2019

· Continuous drilling & testing programme is planned to last through to December 2019

· Empyrean's partner, Coro Energy Plc, funding the first US$10.5MM of the drilling campaign costs

agree Rathole, exciting times, glad you've finally come to your senses :) pile in!

'We maintain our target price at 33p per share'

China figures are remarkable for a tiddler like EME.

also out but you require access to see it, snippet below.

Valuation In lieu of the recent headwinds around the commodity prices we have reduced our long-term oil and gas price forecasts. The net result is a reduction in our RENAV from US$179.9m to US$177.7m, but we maintain our target price at 33p per share. Amongst the Company’s existing assets, we see the greatest near term value coming from the Duyung PSC, where we value the Mako prospect (pre-drilling programme) at US$13.6m or 2.5p per share. Following the result of the upcoming drilling programme, we would expect a significant shift in this valuation as the Company looks to further de-risk the potential resource base at Mako. As part of the drilling programme, the partners will target the Tambak prospect, containing 250Bcf of gross prospective resources (21.3Bcf net). We currently conservatively risk Tambak at US$3.3m or 0.6p per share, whilst unrisked this number increases to US$24.6m or 4.6p per share. Elsewhere, it’s hard not to miss Block 29/11’s potential, where we have very conservatively ascribed a risked valuation to the Jade and Topaz prospects of US$46.5m and US$90.7m (or 8.7p and 17.0p per share) respectively. Unrisked, this valuation increases to US$489m and US$954m (or 91p and 178p per share respectively and assuming CNOOC backs-in for a 51% interest),

all, for info Conrad website updated where they now have a news and media section. seems there gearing up for operations and news flow which is encouraging.

https://www.conradpetro.com/

welcome back, sub 8p seems good value and has been snapped up,

Indo drilling should see some movement here, still expecting some China news regarding a farm in before the year is out.

Empyrean Energy PLC (EME: AIM) announces that its Annual General Meeting ('AGM') will be held at The Royal Institution of Great Britain, 21 Albemarle Street, London, W1S 4BS on 10 September 2019 at 10.00am.

company is well positioned and certainly an exciting time to be invested. Indo drilling imminent and the huge potential of China to come.

share price yet to react but guess for many they are waiting to see how China will be funded? just need Tom to land a nice farm in deal and we are in the money IMO

that all you can think of to post??? lol

thats made my day!

https://www.youtube.com/watch?v=rmvW039chII&feature=youtu.be

Empyrean Energy (EME) Oil & Gas explorer with world-class resources in both China and Indonesia, today announced confirmation of the presence of Gas Clouds on 3D seismic further mitigates exploration risk for Jade and Topaz Prospects, offshore China Block 29/11 - detractors will dismiss as piffle, what they won't concede; in layman terms, essentially means this is close to a slam-dunk as you can get at this stage of the process. It is also further evidence of the extremely close relationship between CNOOC & EME, thought to be unprecedented.

https://lemminginvestors.blogspot.com/2019/05/empyrean-energy-slam-dunk-or-piffle.html?m=1

https://www.empyreanenergy.com/wp-content/uploads/2019/05/121-Conference-Presentation-14.05.19-reduced-file-size-for-website.pdf

'BUILDING A MID-TIER COMPANY METHODICALLY'