Empyrean Energy

Web site : http://www.empyreanenergy.com

phew! delighted to hear it janet ..... hope you are not getting itchy fingers either

Long term sucks around here, John. ;-)))

Long term sucks in a lot of the oil juniors at the moment, Al, MXP got really cremated today and it has real prospects. Some of these companies will make it and the potential upside keeps getting better at the moment. When and who you buy that's another matter...LOL

Al as far as the rig is concerned, yes a powerful is regd,but we are talking the
"most" powerful rig in Texas. Regards to the holding of stock is much hindsight(yes i
expected some retracement but not on this scale), it would have been better to have sold high, but with news out almost any day soon what price to get in? Much of the SP is down to the dire state of the market,and who can hold their hand up and say it was going to get this bad.
For myself i closed all S/Bets,(EME at 66p) and chose to hold on to the others, as i bought at 27p. Now what to do, is the question, i certainly will not be selling now with news so close.If we check the news given on the 25th July from
Well 1 Block A, 1500ft of the 4000ft horizontal drainhole was complete, news that drilling is at 4ft/hr is almost 100ft/day so 25 days to complete ,which brings us to the 20th Aug for possible news.
If this is as big as being made out to be then the MM's will put a pretty hefty
mark up, so anyone who is thinking of buying back in, then theirs a very good
opportunity to get in at a possible barguin price. No guarantee's to whether it has
bottomed or the outcome of the drilling, thats for each to make their own
decision on. As i said i've stay in,whatever one does, best of luck.
aimo
cyril

A bit of a boing today.

Cyril - do you have a link to the rig owner's website? I've tried to Google it, but it won't come up. I'd be interested in the specs.

The well is 17000ft plus build section so this is a long well. I'm intrigued by the 4 ft/hr bit as well. They'd be real smart to get it away in 45 days at that rate, even if it's just the horizontal section.

Al i don't have that link, but i'l try and get it. Its the giant Patterson;s rig.
cyril

For those swing trading, now is the time to buy imo.

Coming few weeks the rampers will be working hard pumping EME into the SL-1 testing and results.

Al ;the operator is Texas Crude Energy Inc. TCEI
Its the same rig which drilled S/Loaf 1 spudding 18th Aug and drilled to a
depth of 20896ft by the 29th Nov, just over 3 months.
Its the Patterson#30 2000HP Triple Tower.
PP is right, as interest increases so will the SP, it just whether one wants to play safe or stick with it?
They don't continue to drill unless they have good reason?
aimo
cyril

Thx cyril. Had a look about, but can't find the full spec. 2000HP is pretty hefty

The new website is well worth checking out, Now AIM Compliant.http://www.empyreanenergy.com
cyril

Some excellent info to be gained from the web site.
S/Loaf
From the last(2nd) paragraph, S/loaf Area A(S/Kane3)The 1st of 16 wells is
drilling a horizontal appraisal into a reservior, "proven to exist at S/Kane". Testing will commence immediately T/Depth is reached, expected to be Mid Aug.
So anyday now for T/D,+testing,so a very conservative estimate would be
end of month? Before going onto testing S/Loaf 1.
The more you read the more comes to light and is in keeping with some of the
research carried out by some very enthusiastic ametuers.Other info regarding
Marg deeps,the last para confirms commitment to drilling in the 4th Quarter.
Theirs a whole lot of info so keep reading, as the more you read the greater the
insight and understanding.
cyril

Nikkei up 585, Hang Seng up 752and ASX up 261,small cap explorers doing very well. Some barguins out their today,with news close at hand we could see some
interest in EME coming back? I believe MXP will make a strong recovery today?
So with all markets blue today, should be a good day hopefully for all?
cyril

Blue until the next wave of sell-offs, cyril? ;-0

Al, we are almost their(S/Kane3),look at post 1053.
cyril

Buy the rumour, sell the fact?

Picking up again. With just under a week until testing starts at the much hyped Sugarloaf prospect, its going to be a pretty good cert that things will get really hyped up again.

If you are looking for a trade, then a long EME on a short term basis might be a good one ?? DYOR

I'd like it better if the spread wasn't almost 11%, PP. ;-0

I'd like it better if it was double the price ;>) have closed the spread a wee bit for you Al

Not quite enough, my little speculator. ;-)))

PP; from EME's web-site horizontal appraisal of gas filled reservior already
proven to exist at S/Kane, now thats fact. Yes their is a lot of hype, but more
to do with the size of the field (still not forgot CSH). And the answer to that
is somewhere in the near future.
But i agree their's an opportunity to trade,as seen in the late rise
this afternoon. Whats your view on MRP which seems near to announcing
the gas rates from Orion,yet a drop just before closing?
cyril