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Yes, but I'm not sure whether the fitting pumps will be RNS'd, unless of course it's included together with a drilling update or as part of a general operational update.

From memory the pumps have been delayed in the past, but are due to be fitted this quarter.

GLA

I would expect the next operation update to confirm the completion of SH-14 which completes the 55k bond expansion programme. Also the spudding of SH-G and submission of the field development plan will be important news releases. So a busy 2 months for the company. All looking good, especially with a strong Brent underpinning our revenues.

The extension is a positive, but i would imagine that a JV will be announced shortly. Only two more months to drilling, so the ducks are surely being lined up.

Good to see you back on board Opulentia.

7 year high for Brent.

Nice write up that sums up the EME prospects very well.

We had a good volume today at over 12.7 million shares traded. I hope this continues in the days ahead.

Things are looking very tasty now. I would be amazed if we don't get the well and testing funding via the warrants / new JV partnership announcement. A perfect storm approaching?

GLA.

Yes PageofCups, a poor attempt at posting misinformation: Here's a full cut and paste for the readers of this forum:

Report on other legal and regulatory requirements Adequacy of accounting records and information and explanations received
Under the Isle of Man Companies Acts 1931 to 2004 we are required to report to you by exception if, in our opinion:
• we have not received all the information and explanations we require for our audit;
• proper books of account have not been kept, or proper returns adequate for our audit have not been received from branches not visited by us;
• the company financial statements are not in agreement with the books of account and returns; and
• certain disclosures of directors’ loans and remuneration specified by law have not been complied with.
We have no exceptions to report arising from this responsibility.

Markettimer, you could perhaps factor in an imminent announcement of a significant increase in production. The business expansion is supported by a world class field, strong cash position, low opex and regularised cash receipts.
The risks are still there, but there is no denying a much stronger company now exists.

Buying is continuing this morning, driven by the OP reaching near a 3 year high, together with the imminent increase in production. Arguably, GKP is as compelling an investment since post the discovery. I have been adding since July; my first purchases since 2019. Will continue to reinvest the dividends as well.

Starchild: "Recently elected MP Jobeth Coleby-Davis has been appointed minister of transport and housing. She was a Senator and CEG’s inhouse legal counsel for many years. I believe she still is. "

Yes, this has to be a positive, even if it transpires that she no longer represents CEG (some may argue that there could be a conflict of interest).

Adding to my long position. Only 3-4 months until drilling.
JV / funding details to be revealed soon.

The announcement yesterday was for the interim results, not the full 2020 results. These 2020 final results are to be published by the end of this month.

Very strong update from the Company today.

Really positive RNS release. Very exciting times ahead for this quarter. The well costs are significantly lower than previously forecasted, so this is really excellent work by EME.

From the last related RNS of 16th August 2021:https://polaris.brighterir.com/public/challenger_energy_group/news/rns/story/xq73mnw

"On completion of the drilling of the Perseverance-1 well, the Company had indicated that a technical "debrief" would be provided for shareholders' information once the post-well analysis had been sufficiently advanced. The Company expects to be able to post this report to its website during September 2021, once appropriate prior notices to, and engagement with, the Government of The Bahamas has occurred."

and:

"Farm-Out Process

As previously advised, based on the abovementioned post-well technical analysis, the Company has reinvigorated a process, working with Gneiss Energy, to identify a suitable farm-in partner for the next phase of activity in The Bahamas. This process is active, with a number of parties having expressed interest and engaging with the Company. A technical data room has been established, with due diligence underway. Further updates will be provided as and when appropriate."

So potential farm-out partners are in the data room and the P1 detailed result will be announced within the next 4 weeks.
CEG has stated in the same RNS that they believe the field to be "highly prospective". The question of fees outstanding (if any) could, I image, be all part of the ongoing discussions with both the government and the farm-out interested parties. All will be revealed soon, in my opinion.

I'm a big fan of EME, but the communication from the BOD is very scant, to say the least. I've lost count of the amount of times the price has risen quickly quickly, yet has faded back over the following days. The shares are, I believe, generally tightly held, so big moves can and do happen on low volumes. Therefore a Rig RNS together with a timetable for spudding could provide a much welcomed boost in the SP.

I can't remember the last time the CEO did a video interview. But now, in the lead up to an exciting play with potentially transformational outcomes, it is almost certain he will come out of his cage. EME will have a plans A and B for the funding; hopefully both with little dilution. That's why I think a JV is likely, especially so considering that Conrad don't seem to be moving with Duyung.

I'm pretty sure that a rig RNS will be released very shortly, so not long to wait.

Now here's the thing:
We now have hard cash to pre-order the rig, obtain the 8 permits, carry out the site surveys and for other corporate expenditures.
So for the warrants to partly or fully fund the drill (say, max 18m USD), the share price needs to get above 10p and quickly. If that doesn't quite happen then we need an alternative source of cash.

Gaz spoke about possible JVs with 1 or 2 smaller players. That seems fair enough to take up any shortfall because the alternative of dilution would be very painful to take for existing shareholders.

Next near term news will be the rig booking. At the time of that announcment, EME will be certain of the alternatives for funding the drill. I expect all will be revealed very shortly; possibly next week (refer to the link below for the latest comms)
https://www.proactiveinvestors.co.uk/companies/news/957392/empyrean-energy-maps-out-path-to-spudding-of--world-class--jade-prospect-957392.html

If we can get all the ducks lined up in the next couple of months then this is looking like much better times for EME. GLA.

Malcy, today: "Saffron is looking to be an exciting play and with so much more to play for in the area I’m not surprised that the Challenger team are taking it carefully to begin with. I’m meeting with CEO Eytan Uliel this week so will enjoy having a detailed update from him about his plans."

PUTUP, out of interest, how do you explain why the Company hasn't already started the buy-backs, especially noting the good news that you predict.

I am expecting a positive drilling update, but cannot understand why the buy-backs haven't commenced.

Starchild: "It implies an updated CPR is soon to be released."

Whilst clearly another set-back has been announced this morning, the company have highlighted their confidence in overcoming the Lower Cruse problems that they face. ["The Company considers that techniques identified for remediation of the technical and mechanical issues experienced in the Lower Cruse (due to the impact of non-reservoir clay and shales) will enable these zones to ultimately contribute to production as part of any overall Saffron development."]

I doubt very much that there will be a CPR until all this work is complete, including any re-design for subsequent wells. Maybe the CEO was referring to internal estimations? But at least the oil is of good quality and they have a plan as to how to extract it. All is not lost just yet, in my opinion.

Next update will probably be corporate.