Empyrean Energy

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

Marked up nitially by 22% and then fell back to close up 8.5%. I think that just might say it all, maestro. ;-))

Al market movements at present mean little, take IPL just awarded 38m cash
settlement with truly great assets, M/Cap at $20m.
Not really worried got out a long time ago as i felt it was not the type of stock to hold at present.
cyril
ps read the 4th feb's news for CHL

............. and back to where it was.

Al ; i could off the top of my head name several others in the same boat, as you well know, its the this market thats the problem. To be fair to EME this latest result will bring in over 1m this year and ensure the future certainly into next year.
cyril

There are many companies in this market in the same boat, cyril. EME was simply another that was never going to make it anyway IMO. 1m a year ain't going to cut it in drilling terms.

'Tis life.

sold out and bought ridge mining...no brainer

maestro ... i assume it was on the same basis that you bought EME too!

nope...ridge getting taken over...should be 70p but scumbag crooks in the city keeping it down for the time being

If you don't mind me saying so, I can see why you are living in a van ...

He is not in a van anymore, he has a council flat

Will affect EME and any others with USA exposure :

http://business.timesonline.co.uk/tol/business/markets/article5818494.ece


.

This continues to drift slowly down. Not looking good.

another "yummy yummy" stock to hold hands with AMER, GOO, FOGL and a number of others of the same pedigree

So did AFR?
cyril

You can read this like a book. ;-)

More funds required.

bought back in at 3.75p...no brainer at this price...trading my van up soon at this rate

Awesome! Probably get a van at rock bottom price as the dealers are gagging to be rid of stock. A win, win situation if ever I saw one!

19 March 2009

Empyrean Energy PLC

Placing to raise 300,000

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces it has conditionally raised 300,000 before expenses, through an institutional placing via its broker Blue Oar Securities Plc ('Blue Oar') of 10,000,000 new ordinary shares of nominal value of 0.2p each in the Company ('Ordinary Shares') (together the 'Placing Shares') at a price of 3p per Placing Share (the 'Placing').

Proceeds from the raising will contribute towards further development at the Sugarloaf project in Texas, USA and for general working capital.

The Placing has been performed under existing share allotment authorities, and the Placing Shares equate to 13.63% of the enlarged issued share capital of the Company following completion of the Placing.

Following admission to trading on AIM of the Placing Shares, which will rank pari passu in all respects with the existing Ordinary Shares in issue, Empyreans' total issued and voting share capital will comprise 73,325,792 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 2 April 2009. Completion of the Placing is conditional, amongst other things, on such admission becoming effective.

Increased placing.........institutional demand!!!

"Further to the announcement on 19 March 2009 and in response to additional institutional demand, Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces an additional issue of equity.

The Company has conditionally raised a further GBP350,000 before expenses,.........................at a price of 3p per Placing Share "

if they have to go to a placing (rights issue) to raise a paltry 350 before expenses, then they sure are in dire straits