Empyrean Energy

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

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.

cynic; i seem to remember your posts sub 20p, by your own admission your not sure of what fracing involves. So unless you have something useful to add, why bother?
cyril

dont worry cyril.....cynic seems to have a defined opinion on everything and every share........and i dont think he owns any shares in this.....so as u say, why bother.

i used to and still follow ..... i also have a small knowledge about oilfield servicing and fraccing in particular

Scott its just having spent time trying to answer a question, to get such a reply tended to rub against the grain.
cyril

News of the fracc can obtained from ADI on the ASX.
cyril

http://www.adelphienergy.com.au/files/brokerreports/Hartleys%20Broker%20Report%20-%2027%June%202008%20.pdf
Broker is certainly positive?
cyril

Trotting, took your advice. This seems worth buying right now.

News is soon to be announced for Eme as posative fractureing stimulation as given good indication of vast amount of flows at the Sugarloaf-1, kennedy drilling site.

shagging the CEO's secretary for that indisputable info are you?

Eme have been under going a serious of tests and conducting technical analysis of sugarloaf-1 and this will inevitably be a huge gusher.

only death and taxes are inevitable, and most certainly not oilies drilling test wells!

Still eme poses a substantial amount of oil and gas discoveries about to be unveilled. at the Sugarloaf-1.

you should be called shadowy