Empyrean Energy

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

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.

http://www.endevcoinc.com/media/index.html
cyril

Update on the ASX.com.au via AUT.
cyril

From the EKA report, a 6000ft horizontal targeting the upper interval where it
is reported that 3 wells are successfully producing gas and condensate?
cyril

Posted on an aussie forum, make of it what you will?

I was alerted to this forum by a fellow Karnes County resident; I'd like to share some on-the-ground knowledge re: the Kowalik well. We own the property immediately adjacent to the drill site and included in the pooled acreage since it is over the horizontal run. I've attached a photo of the rig taken last week. We received a call from Texas Crude yesterday wanting to negotiate a pipeline easement across our property "by the end of the week." They sent out surveyors today and should have a plat back to us tomorrow. Texas Crude is working quickly to get a pipeline laid to connect the well into the Houston Pipeline (high pressure gas) approximately a mile away.
cyril

Looks like a few shorters scurrying for cover on this one. Very wise in my view since EME must be nearing some potentially spectacular news if the drilling is going to plan.

Eme is building up the price as increased suddendly. An update or news release with greatdetails is hovvering around various city financial people. This is a good sign that the fracturing as out standing results in Texas. Watch this accelerate.

Latest update to be found on the, ASX, AUT company annoucements.
cyril