Empyrean Energy

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

Business Financial Newswire
"Empyrean Energy Plc has raised 724,000 before expenses through an institutional placing of 12,066,667 new shares at 6p apiece.

The placing comprised 700,000 raised from institutional investors and a further 24,000 from an existing overseas institutional shareholder.

Proceeds from the raising will be used for working capital and for the further development of the Riverbend Project in Texas. "

From t1ps.com - EK
"I bought 200,000 Empyrean Energy (EME) since I am told it is going up sharpish pursuant to the financing announced on Monday. I paid 6.5p but apparently the target is north of 20p"
"New Position: Empyrean Energy (EME) - Long"

Riverbend Project, onshore Texas, USA.
"Drilling contract secured for re-entry at Quinn 3H well.
Rig has commenced mobilising to the drill location over the past weekend.
Drilling to commence shortly after rig up is complete.
Empyrean Energy Plc is pleased to announce that it has been advised by Krescent Energy Company LLC ('Krescent'), the operator of the Riverbend Project in Texas, that a drilling contract is now in place for the re-entry and drilling of the Quinn 3H well.

Krescent also advises that over the past weekend they have commenced mobilising the rig to the drill site. It is anticipated that drilling will commence shortly after the rigging up operations are complete.

The Quinn 3H well is initially targeting the Austin Chalk 'B' zone where Krescent has already encountered high pressure gas and significant gas influx during the first drilling attempt.

The newly contracted rig has higher pump capacity and pressure rating that is designed to drill in the high gas pressure environment and allow the partners to complete a lateral of desired length within the target zone prior to moving forward with completion operations.

A further announcement will be made when drilling commences."

Up another 10% today to 13p. Finally in to profit!!!

yes, this is starting to look promising again. Does anyone know how long each drill takes to reach TD?

How high do you think it will go

Just on the hype, maybe 20p. EME have a nasty habit of disappointing, so don't get too hopeful!

Up 31% today so far.
Where's Big Al? He normally keeps his eye on this one.

gosh .... relatively speaking this one has at last taken off, but i wonder of there is any true foundation to it ..... so many stocks, and oilies inparticular, have had a bonanza run in the last few weeks, and assuredly there will be tears before long

CYNIC ????? Why put a dampener on something that is going well for a change.
Are you annoyed that you didnt buy in at 3p?
I will be holding till it gets to at least 40p,which is the figuire being passed about on other internet threads.
So if you cant say anything useful ,please dont say anything at all.

not remotely annoyed ..... have done scarily well over the last few months, but i don't what it is about you guys who seem to permanently wear rose coloured specs when the market is good - i am an optimist by nature, but some of you guys get so blinded by greed that you fail to perceive that the markets must surely have a sharp sell-off soon, followed by consolidation ...... a company that produces some stunning news will still see its sp continue north, but for the majority, it will be south, and for tiddlers, very heavily so ..... if you don't bank at least partial profits en route, then you fully deserve to get badly singed

and if you don't think that is saying something useful, then you are very stupid indeed

sold out at 16p...into VOG

A bit too soon Maestro. Now 17.5p

better too soon than too late!

Harry; AL appears when their's a chance to knock it.
cyril

Possibly, but at least he understands the technical stuff better than I do. (Which probably isn't difficult!)

topped up on VOG at 6.2p

Sold 50% this morning at 18p..:))

"Empyrean Energy Plc is pleased to announce that it has been advised by Krescent Energy Company LLC ('Krescent'), the operator of the Riverbend Project in Texas, that rig-up at the Quinn 3H well has now been completed with 'spudding' of the well occurring at approximately 10.00pm (Houston, USA Time) on the 2nd September 2009.

Initial operations will involve going back into the vertical part of the Quinn 3H well that is behind casing to condition the hole in preparation to test the casing and run a cement bond log. Following these operations the operator will mill a new window in the casing in order to commence drilling the horizontal section of the well.

Further announcements will be made as significant developments occur."

20p Historically a support level. A push through here could leave the door open to anything up to between 40 - 60p.
Have looked through many of the old posts, but can't find any definite time scale for drilling this well, or a comparative one.