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This is perfect timing with oil soaring. Brent $122 now.

Let's hope we get a re-run. We've been waiting a really long time for this drill. Good luck.

On p20 it states that Jade is a 'step out exploration opportunity from nearby discovery well LH23-1-1d' and is 'located updip from CNOOC oil discoveries – favourable migration pathways.' That all sounds very good.

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

On p20 it states that Jade is a 'step out exploration opportunity from nearby discovery well LH23-1-1d' and is 'located updip from CNOOC oil discoveries – favourable migration pathways.' That all sounds very good.

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

Was anyone else here during the Dempsey-1 drill in 2017? I remember it well. EME went from 3.25p on June 13 to 31.25p on Sept 12.

If they're smart, they'll let the price and volume really start to pick up.

10p is a nice round number, so I suspect a few had it in their sights and have panic sold now we've reached it. Once they've cleared this should strengthen especially given the comments about P10 and nearby discoveries being filled to spill.

For newbies:

'Empyrean's excellent quality 3D seismic indicates that there is a classic "fill to spill" geological setup in the basin, and a robust regional seal, that provides the Jade and Topaz Prospects with a very real possibility of being filled in a similar fashion to nearby discoveries. The Jade and Topaz prospects both have gas clouds, similar to nearby discoveries, in the overburden on 3D seismic. Dry wells nearby do not have gas clouds. The Jade Prospect is the first of the three identified prospects within Block 29/11, which also contains the Topaz and Pearl prospects. The combined audited mean in place potential of all three prospects is 884 MMbbl and a P10 in place upside of 1,588 MMbbl. The post stack seismic inversion study showed Jade and Topaz both have the potential for excellent carbonate buildup reservoir quality with excellent porosity and permeability. Any oil discovered is expected to be light oil in the 38-41 API range, similar to nearby discoveries. These attributes combined with the potential for exceptional natural reservoir drive supports the potential for excellent recovery rates.'

https://www.londonstockexchange.com/news-article/EME/block-29-11-china-jade-drilling-update/15364305?showDisclaimer=false

It's amazing how quiet it is here. Oil $119, excellent looking drill in great area, only 2 or 3 weeks till spud. EME's holding in the Mako discovery also reduces investment risk here considerably. 88E has bounced nearly £40M in market cap off the day low, about what the market is valuing the entire Jade drill at right now. You have to laugh.

Barreleye-1 and Lukanani-1 which are both drilling are the same distance inboard of the main line of Stabroek discoveries as the Cretaceous prospects on Orinduik. Barreleye-1 is the closer of the two and about half way between Pluma-1 and Orinduik so it will be very interesting to see the result of this well. If successful, there are a couple more Stabroek prospects much closer to Orinduik than Barreleye, which look like the may be up-dip of our Cretaceous targets.

https://oilnow.gy/featured/exxon-resuming-drill-campaign-at-barreleye-1/

You might find it's limited carry as is almost always the case, either up to a fixed $ cap, for a certain work requirement or for a certain licence period(s). The carry could just be for the current seismic interpretation or could be for X number of drills. We don't know. Such a large carry is unusual IMO, so I would imagine it's more limited in scope.

You might find it's limited carry as is almost always the case, either up to a fixed $ cap, for a certain work requirement or for a certain licence period(s). The carry could just be for the current seismic interpretation or could be for X number of drills. We don't know. Such a large carry is unusual IMO, so I would imagine it's more limited in scope.

Sorry Harel, I won't give my email out on a public forum. You could try uploading it as I do with images I want to post on here.

Interesting idea on Cataleya and Mid Atlantic. Would spread the risk for both companies as per ECO merging with AZINAM and JHI. It would be great if some of these other blocks and companies were listed on the LSE to increase investment options in Guyana.

I'm focused on EME right now with their Pearl River Basin drill about to start. SP is finally starting to move after a LONG wait. Looks like another drill in good area with real prospects of success.

Very good looking drill near significant discoveries. 10p breached.

Cheryl, is that you?

Me too. I have a good feeling about Jade and the block in general. It looks to be in a great postcode and the data looks compelling.

Plenty to look forward to here, but the market seems unaware unfortunately. WTE has done excellent presentations in the past and it's time they did a new one outlining the new portfolio and anticipated drilling line-up.

You were spot on with the date of the update Harel. Finger on the pulse. I suspect Exxon are still waiting on the result of Tarpon-1, which is pretty much in a straight line with Ranger and Tanager. It will be excellent for WTE if this starts develop into another cluster of discoveries.

WTE has gone from expecting a Kaieteur drill in Q4 to having Gazania-1 in Q3 instead. Plenty to look forward to over the next 18 months.

You were spot on with the date of the update Harel. Finger on the pulse. I suspect Exxon are still waiting on the result of Tarpon-1, which is pretty much in a straight line with Ranger and Tanager. It will be excellent for WTE if this starts develop into another cluster of discoveries.

WTE has gone from expecting a Kaieteur drill in Q4 to having Gazania-1 in Q3 instead. Plenty to look forward to over the next 18 months.

So WTE's next well looks likely to be Gazania-1 in South Africa in Q3.

And that's just for 3 prospects. How much for 12 prospects ... 13.2 BBOE? And on trend from Graff and Venus. Industry must be salivating.