Empyrean Energy

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

good thread this!!! And agm 2morrow.

Nothing new from AGM then ??????

couldnt be there as in athens. Cant access advfn as they charge for mobiles and pda so in the dark.

A few points from reading those that attended.
Each block approx 100 yrds q and wells drilled in rhat area count as one(so baker 1&2 are one), 6 wells panned by year end. Mult horizontals planned for some wells.
cyril

Also they expect to become the operator with Eaglr and intend to drill a larger
size, meeting very positive. This is second hand info so treat as such.
cyril

many thanks Cyril.

niceonecyril - 24 Jun 2008 07:33 - 1468 of 1476
http://www.investegate.co.uk/Article.aspx?id=200806240700032613X
Coupled with the news that Kennedy-1 H will have a more aggresive frac(costing
approx 1m), surely any doubt has been removed, so
"Time is Telling"?
cyril

Massive frac completed yesterday according to mole down under Biggest hes seen
in 24 years in the job with in excess of 30 frac wagons

nite ram; thanks for the info, great news and hopefully justified my decision to
buy more(something i had not intended) @46p. Poor disapline i know but i
couldn't resist, we will soon find out whether it was the right choice?
cyril
ps. roll on monday.

Massive frac completed yesterday according to mole down under Biggest hes seen in 24 years in the job with in excess of 30 frac wagons ..... means sweet FA! .... i am no oily, but to my mind that just means there was an awful lot of limestone or similar to dissolve in order to amalgamate "puddles" of oil ..... it does NOT mean that the oil equivalent of Eldorado lies at the end ......
BigAl would be able to give a more professional view

cynic ; this is a follow up to light fracc, the results of which has given them an insight and confidence to risk 1m. Nothing is certain but those involved seem very upbeat, so you pay your money (just like when it was sub 20p),and take your chance.
cyril

1m for what is actually quite a simple operation in oil terms sounds very high indeed ...... are you guessing the cost or is it based on something more factual?

Eme current operation at theKennedy site is fairly straight forward, for this company and within the next two weeks eme will be on a high.

cynic,,youve just answered your own question,,,,the reason its costing 1m is because its an unusually big fraccing op,,doh !!!!!!!!

Someone posted a picture of a frac operation on @dvfn a very impressive sight and you could see why it costs so much.

The market is pricing in failure it seems to me.

And would they spend that much without a high degree of certainty that the reward wouldn't vastly outweigh the cost?

cynic - 05 Jul 2008 12:38 - 1481 of 1485
1m for what is actually quite a simple operation in oil terms sounds very high indeed. And clearly not an undertaking without much thought around the various board room tables with the JV partners

Of interest about the Kennedy H 1 well can be gain from ASX/ adi annoucements
dated 23/06/08, although nothing on the costs.
cyril

cynic; at the AGM TK referred to the fracc's being expensive costing up to $1m,
so dollars not pounds. Still a lot of money to risk, unless you had good info?
cyril
ps i've amended my original post.

half the cost of what was originbally floated - lol!
i am also puzzled that "30 frac wagons" should be deemed so massive ... if by that, someone means 30 loads of HCL + the wagons in which to mix it with some kind of gel (i believe), then sorry, but that is not THAT big a deal ..... try the Saudi fields, where 20 similar is pretty common.

long way to go chaps, so watch out.

poppa07 - 6 Jul'08 - 07:28 - 18838 of 18842


Food for thought from a poster on III...

"Guys, just looking here to see where this will land and as to whether the prospects are good to buy in at that level.

On reading your posts it appears obvious that some of you believe that the share has been attacked by a shorting campaign. This is not nice and I too have held/still hold shares that have been attacked.

The only concerted way for a pi to alleviate this problem, at least to some extent is to talk to your broker. On shares that are traded on SETTS, not sure if this is can someone confirm, all you need to do is the following to stop your own shares from being used in the shorting campaign.

In simple terms the way they can easily short a setts share is to place shares for sale on the bid, say 5p or 10p below the current bid. The setts programme will try and match this trade and thus lower the bid towards this level. As soon as it gets close they will either take the trade or pull it out and again place them a few pennies lower again thus keep on bringing the bid price down.

Now what can the average pi do to stop their own shares being shorted, as believe me your own broker, if approached, WILL sell your own shares that they hold on your behalf as a nominee account.

There is two things you can do, 1st is to certificate them but this is not obviously to everyones advantage but the 2nd option is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double the todays price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes.

Although an individual pi will not normally have enough shares to halt a concerted shorting attack, if a large number of holders did this it would reduce the overall amount of shares that they could get their hands on.

In my opinion well worth doing if not only for the knowledge that your own shares cannot and will not be used in a short attack against the very share that you own.