Empyrean Energy

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

as fully reflected by the market's appreciation of same

cynic still an opportunity in empryean energy surprise's waiting easily worth 80p.

so all you mug punters have been saying for the last 12/24 months ..... but as has happened every time so far, sp has a little surge and then drops back to where it was before or even lower ..... even EO probably has better prospects, and that is almost an out and out gamble

Looks like EME has run out of cash again...



25 November 2008

('Empyrean' or the 'Company', (EME))

Institutional Placing to raise 500,000

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces it has raised 500,000 before expenses, through an institutional placing via its broker Blue Oar Securities Plc ('Blue Oar') of 3,333,335 new ordinary shares of nominal value of 0.2p each in the Company ('Ordinary Shares') (together the 'Placing Shares') at a price of 15p per Placing Share (the 'Placing').

Proceeds from the raising will contribute towards further development at the Sugarloaf prospect in Texas, USA.

The Placing has been performed under existing share allotment authorities, and the Placing Shares equate to 5.30% of the enlarged issued share capital of the Company following completion of the Placing.

The Placing Shares will rank pari passu in all respects with the existing Ordinary Shares on issue. Following admission to trading on AIM, Empyrean's total issued and voting share capital will comprise 62,849,602 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will take place on 27 November 2008.

Commenting today, Executive Director Tom Kelly said: 'Given the unique and particularly challenging capital raising markets that prevail right now we are pleased with the interest shown in the company's projects. The funds raised will be used to further develop the Sugarloaf prospect and we look forward to updating shareholders with further progress.'

funding this company is no problem as eme will reward the investor with the sugarloaf due to be announced. 80p

No way that EME will reach 80p in this economic climate. Even 30p will be a big struggle.

if the sugarloaf comes good then eme will prosper.

And if it doesn't it won't.

i never said a word!

Mr kelly is confident with 40 years experiance that eme sugarloaf will produce when vast flow rates arenoticed with the drilling venture.

has he actually been down the hole and had a good scout around? ...... i rather doubt it for some reason ..... no oilie drills other than in the expectation of coming up with the bacon ..... unfortunately, even the best informed all too often come back smelling of pig shit instead!

Oh dear, what's happened here?

2 days ago .....

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces it has raised 500,000 before expenses, through an institutional placing via its broker Blue Oar Securities Plc ('Blue Oar') of 3,333,335 new ordinary shares of nominal value of 0.2p each in the Company ('Ordinary Shares') (together the 'Placing Shares') at a price of 15p per Placing Share (the 'Placing').

That won't get them far with drilling costs the way they are. This is starting to look very nasty indeed.

and i bet the expenses were a big lump too

I do know the smaller operators are now finding financing very hard to come by. They're cutting back their ops in the North Sea as I understand it. Of course, those with producing revenue can self finance future drilling.

I don't include EME in the latter, I'm afraid.

Details from australia for Empryean Energy by thursday/friday very exceptional rates .

Not many posts on EME on this thread. I need to encourage people to move over from ADVFN to here as ADVFN don't allow free access to their site from mobiles. So, what's the prediction for tday, 13p or will it rise on expectation of news next week?

members of ADVFN are of course welcome, always provided they behave themselves instead of like drunken pikies, as so often seems the case there ...... members here know my views on EME, and i for one certainly would not expect a rush northbound, or if it happens, then not for long

I thought the results were today, but nothing yet. Of course, AIM companies have a little latitude from memory.