Empyrean Energy

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

With respect you used the same words to describe Petro Matad when I said buy at 14p before xmas...I must say I think you are losing the plot.

mitzy - you hanker after these amoeba stocks - i don't ..... i admit to mistakes; not convinced you ever do, though perhaps you never make them ..... history here shows EME to have failed 3/4/5 times to perform according to promise, which is why it is now only worth (a misnomer!) 8/9p having once been as high as 160p a couple of years ago - but then you would probably have us believe that you bought at 2p in mid 2009 .... even then, you should at least have top sliced in recent months at 16/18p

watch it i'm in this..get out while youve still go ya shirt

Maestro,

Prophetic words.

Not good news this am,broken string which they are unable to recover?
cyril

Why is anyone holding this? Amazing.

more like a (long) busted flush

So, now they need a measly 250,000 to possibly bolster their working capital? Not very inspiring, is it?


RNS Number : 6004J
Empyrean Energy PLC
01 April 2010

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

Convertible Loan Facility

Empyrean Energy Plc has obtained interim financing by way of a committed loan facility of 250,000 with Apnea Holdings Pty Ltd.

The unsecured Loan facility is available for 6 months from 31 March 2010 and can be drawn down by the Company as required and will be due for repayment by 31 December 2010. Interest is payable on drawn down funds at a rate of 9% per annum, accruing daily and payable on the repayment date.

In the event of an equity capital raising between 31 March 2010 and 31 December 2010, the loan facility, in proportion to the amount drawn down and not repaid together with any accrued interest, becomes either repayable or convertible at the lender's discretion at any time prior to the repayment date. The loan would be convertible at the placing price of the fundraising.

Should no capital raising take place before 31 December 2010, the loan facility will automatically convert to shares in the Company at a conversion rate of 15% discount to the preceding four week average share price of the issued shares.

Draw down funds from the loan will be applied as working capital for the Company.

Thomas Kelly, Commercial Director of Empyrean Energy, is associated with Apnea Holdings Pty Ltd, and is deemed to be a related party. The loan is therefore considered to be a related party transaction pursuant to Rule 13 of the AIM Rules. The independent directors of Empyrean, having consulted with their nominated adviser, Astaire Securities, consider that the terms of the loan facility are fair and reasonable insofar as shareholders are concerned.

As a result of Thomas Kelly being a related party, Apnea Holdings Pty Ltd will not be able to convert the loan to shares in a close period. Thomas Kelly currently has an interest in 8,500,000 ordinary shares in the Company, representing 7 per cent. of the issued share capital.


Contact:
Tom Kelly Empyrean Energy Plc Tel: +618 93216988

Nominated Adviser and Broker:
Jerry Keen Astaire Securities Plc Tel: +44 (0) 20 7448 4400
Shane Gallwey Astaire Securities Plc Tel: +44 (0) 20 7448 4400

tell the directors to stump it up themselves ..... they can assuredly raise that pathetic amount using their own collateral

In the world of stuffed birds, this is the stuffiest stuffed bird in the world.....by the way they're thinking of changing the epic code to EMU....april fool...had you going there for moment....come on admit it......oh I know, my jokes are getting worse day by day....

Goos effort, rf. ;-))

thats my handle....gerofff

RNS Number : 9348J
Empyrean Energy PLC
09 April 2010


9 April 2010

Empyrean Energy PLC

('Empyrean' or the 'Company')

Placing to raise 1,500,000

Empyrean Energy Plc, the oil and gas explorer and producer, announces it has conditionally raised 1,500,000 before expenses, through an institutional placing via its broker Astaire Securities Plc ("Astaire") of 25,000,000 new ordinary shares of nominal value of 0.2p each in the Company (together the 'Placing Shares') at a price of 6p per ordinary share (the 'Placing').

Proceeds from the raising will contribute towards further development at the Riverbend, Hercules and Sugarloaf projects in Texas, USA and Eagle Oil project in California, USA and for general working capital.

The Placing has been performed under existing share allotment authorities, and the Placing Shares equate to 17% of the enlarged issued share capital of the Company following completion of the Placing.

Application will be made for the Placing Shares to be admitted to trading on AIM. Of the 25,000,000 new ordinary shares being issued, it is expected that 23,350,000 new ordinary shares will be admitted to trading on 16 April 2010, and the remaining 1,650,000 will be admitted to trading on 23 April 2010. Completion of the Placing is conditional, amongst other things, on such admission becoming effective.

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 147,224,460 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.

Under the placing agreement, Astaire has been issued options to subscribe for 500,000 ordinary shares, exercisable at 6p, and expiring on 16 April 2013.

Contact:
Tom Kelly Empyrean Energy Plc Tel: +618 93216988

Nominated Adviser and Broker:
Jerry Keen Astaire Securities Plc Tel: +44 (0) 20 7448 4400
Shane Gallwey Astaire Securities Plc Tel: +44 (0) 20 7448 4400

The above is all rather worrying. You must be in deep doo-doo to enlarge the number of shares in issue at such a low price hot on the heels of the previous loan.

Wonder what the odds are of this going bust. They seem to increase all the time now.

but who were the mugs who accepted the placing shares?

Another 35m shares at 6p

Now why would hardened investors(in the present climate) throw 3.5million at such a useless company????
cyril
p.s. perhaps they're trying to get it on the cheap?

because they are stupid and/or they have taken additional security against the company or its directors
and why would you want to follow them?

I'll reverse that question and ask."why are you taking an interest in a share you've so little time for"?
cyril

because i so choose