Empyrean Energy

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

Big Al,

You refer to Kowalik have you forgot about Block A-4, it is very near target depth or are you disagreeing, I actually stated Kowalik would take 30 days from July 18.

" The TCEI JV Block A-4 well is designed to drill to the upper pay zone that has proven productive in the TCEI JV Block A-1 and A-3 wells and then drill approximately 6,000 ft horizontally within that zone in order to effect a lateral completion. "

The above is from the RNS that seems to me like a production well but I don't have 27 years drilling experience.

Kowalik 1H, H = horizontal, so total depth of the vertical and now into the horizontal.
So more "i" traded it at ? up to ? . I'll believe them when they tell us, not the hindsight gang, hollow words to me.
cyril

niceonecyril,

Kowalik is as above as at 30 July it is at 6126 ft, as Al says 5844 to go on the vertical before it turns horizontal.

It is Block A -4 that is approaching TD

Guys - as far as I understand it:

They're drilling a vertical pilot hole and will then plug it back to sidetrack and build it up to horizontal. It's not really clear as to whether this is a ^000 ft sidetrack (including the buildup section) or whether the 6000 ft is all horizontal.

I can't believe you lot. Sorry!

You know more about drilling than I'll ever know. Put that another way. I know nothing. But that isn't the point. If you are a long term investor then fair enough. I hope this company gives you the riches you deserve. What is clear though is you know nothing about the SM especially as it is today. We are dealing shares of the company here not the company itself. There is a huge difference. The Aim market is being slaughtered; there is a total lack of liquidation and nobody wants risky companies. I should know, I have shares in many!

To my cost I have learnt that you sell all small caps in a bear market unless day trading. End of story. The MM's don't want to know. EME comes under that category.

You can analyse it all you want but it ain't going to make the sp go up.

Could i take you back to post 1533 page 9.
Koawilik 1-H to test the upper zone, which is shown at 1700 mtrs
cyril

Dearlerdear; i agree in general but it can also give a good entry point, its just a matter of having belief in your research and a some bottle,of course getting your timing is not easy.
I bought GPX this am, at 169p is imho real good value?
cyril

I guess it depends what you are.

I'm not an investor waiting for my riches. I'm a trader trying to make money and I suppose that is what sets us apart. It's not a case of right or wrong, just different aims and goals. In the long term, who is to say which method makes more money.

Dealer; GPX makes for a good short term trade as its off its recent high mid 220p.
News of oil production,possibly 10,000bopd in the next coup;e of weeks?
imho
cyril

double post
cyril

Yes I was talking generally. As for GPX, I've been looking at the chart and you may well be right. Generally though shares do not do what you expect them to in this market. Personally :

1. I wait till I see movement
2. You then have to judge whether it is a true movement or MM's playing games
3. If it is the former, I buy.

As you can see, trading in this environment is a nightmare and full to the brim with red herrings!

1st August 2008

Empyrean Energy PLC

('Empyrean' or the 'Company'; Ticker: (EME))

Sugarloaf Block A, Texas USA

TCEI JV Block A # 4 well reaches total depth in the pilot hole section

Encouraging gas shows over approximately 300 feet

Horizontal drilling about to commence along the gaseous interval




Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA provides the following update on operations:

Empyrean has been advised by Texas Crude Energy Inc that the TCEI JV Block A #4 well has reached a total depth in the pilot hole section of 12,756 feet. Electric logs have been run. Current operations are the setting of cement plugs in order to kick off and commence the horizontal drilling for approximately 6000 ft.

The electric logs show an interval of approximately 300 feet of gas shows between 12,400 and 12,700 feet. This interval is encouraging and the horizontal portion of the well is designed to drill laterally along a portion of this interval.

Maximum gas readings reached 1325 units against an average background level of approximately 50 units.

Further updates will be provided as significant developments occur.







The information contained in this announcement was completed and reviewed by the Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has over 40 years experience as a petroleum geologist.

cyril

Yes, but if you have been following the price, the MM's have kept the spread so wide, nobody can make money and it is untradable. It is up 11% yet the new bid is still about the same as the old offer.

Hence the problem with these shares atm.

Hmm, gas shows again. Wonder if it will turn into something other than a red herring this time.

It would be nice, what do you think the chances are Al?

Now there's the $64000 question. I tend to go by past performance, kimoldfield, and EME have flattered to deceive on most occasions. It's no secret I'm no bull of them. ;-))

I somrtimes wonder? Here's a well reasoned post from elsewhere posted yesterday,
prior to todays news.


This mornings RNS has IMHO definately not been understood correctly by the wider market. We have been going through and exploration phase on this find over the past 18 months. We are now entering the development and production phase.

We have two new production wells in the process of being drilled Baker 2 and Kowalik that will both have 6000ft horizontal completion.

We have EME telling us this morning that:

"Notably, the Sugarkane Field is over pressured, has a higher porosity and a higher condensate to gas ratio than the classic Austin Chalk fields."

and

"The Sugarkane Field is interpreted to cover an identified area exceeding 200,000 acres with potential gross reserves estimated at greater than 3 Tcf of gas and approximately 700 million barrels of condensate making it potentially one of the largest undeveloped gas and condensate fields within North America."

Kennedy is an exploration well that has a 17ft perforation over a 600ft length in zone 2. It's purpose to date was to try and prove flow from the so far unproductive zone 2. It has acheived this goal even though it does not have the ideal completion.
The coming weeks and months are going to be a very exciting time for EME and I for one am very happy to be holding shares in this excellent prospect.

cyril

A very simplistic view I know, but I suppose if they are extracting some gas/oil there is the chance that there is still a lot more to be had: it could be a gas/oli klondike?! Or not!! Live in hope eh?!

A nice 20% plus tick up today. To think you were able to buy these sub 30p yesterday
cyril

Nice progress from eme and on going as the sugarloaf-1 will prove to be out standing with the addition of vast high reserves when the 55p level is brokien then it onwards to 1.12p to 1.20p.