Empyrean Energy

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

MDX was the only thing I managed/wanted to take a look at really, cyril.

Haven't caught up with EME at all. Something's obviously afoot, though, and I've missed it. Ne'er mind.

BTW, never assume the "bleeding obvious"!

what is very obvious is that almost all companies in all sectors are currently racing ahead, even those that are totally "blue sky"

it's not impossible that EME will not only tell the whole truth but will actually come up with something worthwhile, but their track record is pretty grim

BTW, never assume the "bleeding obvious"!

Al .i wasn't aware i was??

vog isnt racing ahead yet...3.5p to 5.7p isnt exactly rocket stuff

in % terms it is, though i agree you would need an awful lot of them to make enough for a cup of coffee

AFN website bust?

Surprised no one picked up on the latest news?
cyril

what news?

DJ Empyrean Energy: Block B Sugarloaf Farm-In Pact With Hilcorp

LONDON (Dow Jones)--Empyrean Energy PLC (EME.LN), a London-based oil and gas explorer and producer listed on AIM, said Monday Texas Crude Energy Inc, or TCEI, has been successful in its efforts to farm out Block B in the Sugarloaf Project, part of the Sugarkane gas and condensate field, in Texas, U.S..

MAIN FACTS:

-TCEI has signed a farm out agreement with Hilcorp Energy Company and field activities are expected to start promptly.

-Empyrean will be free-carried for the drilling, completion and tie in of up to three new horizontal wells and the stimulation of the three existing Sugarloaf horizontal wells; Kennedy-H1, Kowalik-H1 and Weston-H1.

-This will establish a total of six wells on production across Block B.

-Under the terms of the farm-out this work program has a series of deadlines over the next 20 months.

-No interest will be earned unless the agreed work programs are completed.

-Hilcorp will earn an interest in Block B incrementally as each farm-in activity is completed up to a maximum of 50% of Empyrean's interest in Block B.

-Empyrean's pre-farm-out working interest across Block B is 6%.

-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com

(END) Dow Jones Newswires

September 21, 2009 03:10 ET (07:10 GMT)

Copyright (c) 2009 Dow Jones & Company, Inc.

This is even more good news, to add to last Friday's(Eagle update).
cyril
ps; try clicking on the ticker symbol (EME)at the top of the page, for news releases.

What a turn around, low 3p's to 24p earlier today. 7/8bagger in 6 months and
maybe a whole lot more???
cyril

If you bought at the bottom, cyril. How many did?

There's a chequered history here. They're doing very well, that's for sure, but they're one of many in this market. I've had a trawl around the recent news and market. I'm still intrigued as to why they've got rid of a decent amount for the farm-in. They were obviously desperate for the cash; we know that. It seems to me, they buyer got the best deal. Having said that, EME seem to have a future life, but I wouldn't throw the kitchen sink at it. They're still reliant on getting cash from somewhere and IMO they've sold a decent stake in a buyers market.

Milk it, but don't buy it? Probably IMO.

True AL,but they have survived and nobody throws good money after bad(especially in these times).
cyril

WHY DID IG STOP YOU TRADING THIS STOCK TODAY...THEY ARE SUCH EFFIN SPOILSPORTS

"Empyrean is pleased to announce that it has been advised by Texas Crude Energy Inc ('TCEI'), the operator of Block B on the Sugarloaf Project that is part of the Sugarkane Gas & Condensate Field ('Sugarkane') in onshore Texas, USA, that planning and initial preparatory work has commenced on the stimulation and completion program for the three existing horizontal wells within Block B. This work forms the first stage of the workscope required to be funded by Hilcorp Energy ('Hilcorp') to earn its interests as per the recently announced farmin deal.

The wells will be stimulated using a fracture design that is based upon recent operations within the Eagle Ford Shale trend as well as taking account of the specific nature of the Sugarkane field. TCEI has advised that the major part of the work program is likely to start in November 2009, subject to the availability of rigs and equipment. In preparation for the fracture stimulation operations shallow water wells will be drilled and holding pits will be dug at each well location. This work has commenced at the Weston-1H well.

Prior to this a rig will be mobilised to the Kowalik-1H well location to attempt to pull the slotted liner which was originally deployed in the horizontal open hole of this well. If successful the rig will then run and cement a conventional liner and the well will be fracture stimulated in similar fashion to that planned for the other two horizontal wells. If the slotted liner is unable to be recovered, it is likely that an acid stimulation will be attempted on the well. This alternative treatment has been successfully applied locally within the Austin Chalk.

In addition, planning has commenced for a 2010 drilling program as part of the recently announced farmin deal, with the first wells drilled in this program likely to be within Block B. Under the terms of the farmout agreement all 3 new horizontal wells must have started by mid-2011 for Hilcorp to qualify for its full interest in Sugarloaf.

Whilst this program of work remains subject to change, it does represent a significant acceleration of activity on Block B over the coming months. In addition to the Sugarloaf Block B wells, Hilcorp will also be involved in drilling up to 7 additional wells targeting the same play in adjoining acreage. As a result of this activity and the significant number of wells scheduled for drilling by competitor companies in the Eagle Ford Shale regional play near to the Sugarloaf Project, we can expect to see continuous improvement in the understanding of and value of our asset."

Glad I took profit a while ago. Worth watching now as the sp drifts ever downwards.
10p would be a nice target!

Do not think there is much chance of you seeing your 10p target HARRYCAT!

No, looks unlikely, but you never know with EME. Somehow they never seem to deliver. Think I will stay out now though. 18p too expensive imo.

Empyrean Energy PLC

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




Riverbend Project, onshore Texas, USA.




Quinn 3H encounters multiple significant gas flares whilst drilling.

Including multiple flares over 100 feet in height and one over 200 feet.

Operator drilling ahead.







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 drilling had progressed to a measured depth of 16,383 feet from a vertical depth of 15,054 feet.




Since "spudding" of the well on the 2nd September 2009, Krescent has successfully prepared the well for horizontal drilling, including running a cement bond log. This bond log necessitated remedial operations which were completed successfully. A window was then milled in the casing in order to horizontally drill ahead to the current measured depth.




During drilling, multiple fractures have been encountered that have all exhibited significant gas flares and influx of gas into the drilling mud. Although highly encouraging, these gas kicks require extreme operational caution and necessitate drilling to be momentarily stopped whilst the gas that has invaded the drilling mud is circulated out of the well.




The number and significance of the fractures and flares have exceeded the operator's expectation for the footage of horizontal drilled up to this point. This is positive and is being analysed further to decide upon how much further to drill ahead. No decision has been made on this, however it is highly likely that it will not be necessary to drill the planned 5000 feet of horizontal.




Further announcements will be made as significant developments occur. No conclusions should be drawn from the observations to date, until drilling operations have completed and the well has been production tested.

cyril

It seems people are becoming better at reading between the lines with each announcement. ;-0