Empyrean Energy

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

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

cyril, MRP is a funny one, and its got bad sentiment presently, and that bad sentiment will override the ongoing news.

Should news be good and sentiment returns, then it could rise quite a way, however, it all depends on sentiment for MRP imv.

Picking up again, with SL testing due to start next week, I am pretty sure that there is going to be lots of speculative buying again ahead of potential news.

Up again. Will the hype into testing take it back to 60p levels ? Its certainly lively. Next couple of weeks might see the "hype" go into overdrive as the Sugarloaf testing begins finally.

On Line Limits showing strong demand too :

BUY 25K @ 48.8p

SELL 100K @ 47p


L2 is 3 v 2 @45/49

Still a 4p spread. ;-((

Only advertised spread (to make spread betters pay more).

As you can see if trading real shares, it was at that time a spread of 1.8p

I don't spreadbet shares, PP. Haven't done so for years. I do CFDs and real shares when pushed!

Reversed at resistance by the look of it. Doesn't make the chart look too pretty.

Traders cashing ahead of the weekend?

Drop more likely caused by two week delay in testing programme as further delay in arrival of testing equipment. Funny how people seem to sell because of shortage of service company equipment which I would tend to think is a bullish sign for the oil & gas industry.

Service sector yes. ;-0

Still think traders cashing this week's rise. I't bounced high enough. ;-))

Profit taking ahead of the long weekend, they will be piling back in Tue/Wed next week imv.

Empyrean Energy PLC
24 August 2007


24 August 2007
Empyrean Energy PLC
('Empyrean' or the 'Company'; Ticker: (EME))
Sugarloaf Prospect, ('Sugarloaf') Texas USA

Empyrean provides the following update on the Sugarloaf Prospect as provided by
the operator.

Sugarloaf-1 Well

Empyrean has received a further update from the Operator of the Sugarloaf
Project (Texas Crude Energy, Inc. - 'TCEI') on the timing of the upcoming
testing and drilling program for this project.

Due to rescheduling by the contractor providing the frac and testing equipment
required for the Sugarloaf-1 well tests, that operation is now expected to
commence during the week of 10 September 2007.

Proposed Kennedy #1H Well

TCEI has also advised that the rig contracted to drill the next Sugarloaf
Project well (Kennedy #1H) is currently on schedule to finish its drilling
operations on a third party well by early next month. On that basis the Kennedy
#1H well is expected to spud by around mid-September.

The timing for both operations remains subject to the timely release of the
relevant equipment from current third party operations as well as other factors
outside of our control such as weather conditions.

Weather conditions eg hurricane in America may delay things further.