Empyrean Energy

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

so keep praying and don't forget to tell us all about all the crap you hold that proved to be exactly that

Oh dear it does seem like i've touched a nerve? lol

As usual posted in your thoughtful,constructive and informative manner.

cyril

touched a nerve?????
if you bought every single penny stock, you would be bound to find a few that performed well
however, eme has a very long history of promising to deliver and then failing dismally to do so .... go take a look at their 3/5 year chart

Too many shares issued at such a low price, unfortunately.

ipse dixit

Unsolicitated takeover offer for aussie JV partner ADI?????
cyril

Finals out.
As the fifth anniversary of Empyrean Energy plc ("Empyrean" or the "Company") listing on AIM approaches, I am pleased to report that the Company is very well positioned to grow and capitalise on both its exploration and "production development opportunities".
cyril

When will this company actually state what its share of production is from its many projects, all in a comprehensible table, or is it too little and therefore embarrassing? No wonder it does not get much attention.

when will you guys walk away from this crock of shit?

Shareure, the latest producing wells Easley,Weston and Morgan are 3%,the combined total rougjly 17.5nncfg and 3200bopd,now awiting fRancho Grande(also 3%) fraccing result. The other roducers,Konde,Baker1&2
are at 7.5% with a combined total of 8.8mmcfg ad 1900bopd.
Fron the ADI's reply to the hostile take over the indepenndent CPR,he believes the value to be worth some 50% nore than offered ob the potential of Sugarloaf.At this valuation EME would come in roughly 10p+2p cash?
the ADI's report can be accessed via the ASX.com.au.
cyril

The Cartwright No.1 well spuds

Empyrean Energy Plc is pleased to announce that it has been advised by the
operator, Krescent Energy Company LLC ("Krescent"), that the Cartwright well
commenced drilling at midnight on 29 May 2010.

The well has now been drilled to 163 feet and currently drilling ahead.

The well is targeting as its primary objective the regionally productive,
fractured Upper Cretaceous Austin Chalk.

A second objective is the Saratoga Formation of the same age.

Cartwright No.1 vertical phase will be plugged back to 14,300 feet, then a
directional lateral will be drilled to a distance of between 3000-5000 feet.

Empyrean has a 10% working interest in this well.

cyril

that'll add massive value to the company and sp!

Total Gas Production (mmscf)
Total Condensate Production (bbls)
Average Daily Equivalent Gas Rate (mmscfe/d)*

Morgan-1H
109.4
38,500
19.97

Easley-1H
125.9
12,212
10.13



* The equivalent gas rates have been calculated to reflect value using a 12:1 conversion ratio for condensate and a 25% uplift on gas equivalent volumes due to the high calorific value of the produced gas.

These additional production figures continue to be very encouraging for the economics of the field.

Rancho Grande -1H

Empyrean has been advised by the Operator that the multi-stage fracture stimulation operation of the Rancho Grande #1H well has now been completed and the well is presently unloading. A production update will be provided to the market once stabilised flow has been achieved.

Kowalik-2

Empyrean has been advised by the Operator that the Kowalik-1 well location will be twinned with a new well, which is planned to spud in July 2010. This decision has been made in light of the sub-optimal original well design for the now preferred completion activities and the previously reported operational difficulties at the well. The Kowalik redrill will be the first of a number of Sugarloaf wells to be drilled during this calendar year where all Joint Venture partners will contribute to costs and derive revenue on a post farm out basis. Because of Empyrean's increased working interest in the original Kowalik well the company will hold an 9% working interest in the planned redrill.



A further announcement will be made as significant developments occur.

cyril

Seems like the management are late again with the todys news?

Rancho Grande #1H
Gas Production Rate 3.19 (mmscf/d)
Condensate Production Rate 1170 (bbls/d)
Average Daily Equivalent Gas Rate 18.00 (mmscfe/d)*

Above rates on reduced choke.
cyril

8th June 2010
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Project, ("Sugarloaf"), Block B, Texas USA


Empyrean is pleased to provide the following update on operations at the
Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.
Rancho Grande Initial Production Rate
The Rancho Grande-1H well commenced flow back on 1st June 2010 and has been
flowing on a reduced choke setting. The maximum production rate averaged over a
consecutive 24 hour period has been:-

+-----------+------------+------------+---------------+
| | Gas |Condensate |Average Daily |
| |Production |Production | Equivalent |
| | Rate | Rate | Gas Rate |
| | (mmscf/d) | (bbls/d) | (mmscfe/d)* |
+-----------+------------+------------+---------------+
| Rancho | 3.19 | 1,170 | 18.00 |
| Grande | | | |
| #1H | | | |
+-----------+------------+------------+---------------+
| | | | |
+-----------+------------+------------+---------------+

* The equivalent gas rates have been calculated to reflect value using a
12:1 conversion ratio for condensate and a 25% uplift on gas equivalent volumes
due to the high calorific value of the produced gas.
The intent of producing the well on a reduced choke setting is to investigate
whether limited reservoir drawdown can improve decline rates and ultimate
recovery from the wells. It should be understood that the well is capable of
flowing at a higher rate, but this investigation is part of the ongoing efforts
to optimise the commerciality of the field. In addition, the following comments
should be considered:-
This is an initial production rate that has been observed during clean up
and as such is not yet indicative of a short or long term production profile.
The well still has considerable fluid to recover from the fracture
stimulation.
The well is currently producing through the production casing. A
production tubing string will be installed in due course.

A further announcement will be made as significant developments occur.

Commenting today Empyrean Director Tom Kelly said "This is another strong
production result from recently drilled and stimulated wells at Sugarloaf. These
flow rates, along with the recently reported 30 day production rates from
Easley and Morgan further demonstrate that that the knowledge gained to optimise
the drilling and completion of these wells is now resulting in consistently
strong production rates.

One of our ASX listed joint venture partners - Adelphi Energy Limited (ASX Code:
ADI)("Adelphi") is currently the subject of a takeover offer and the Target
Statement released by Adelphi on 31st May 2010 includes an Independent Expert
valuation that has implications for the value of Adelphi's interest and
therefore indirectly for Empyrean's interest at Sugarloaf. It is the board of
Empyrean's view that with each new well successfully drilled and completed at
Sugarloaf - the project becomes further de-risked and logically the value will
continue to be unlocked. The Rancho Grande result is another well that has
further de-risked the project and unlocked value".
cyril

Peices starting to fit together,along with the SP.

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

Hercules Prospect, onshore Texas, USA.


Bp AMERICA A-740 #1 WELL UPDATE

Empyrean Energy Plc has been advised by the operator, Krescent Energy Company
LLC ("Krescent"), that permitting and "right of way" negotiations with the
appropriate landowners in respect of the pipeline required to be connected to
the BP America A-740 well to the nearby sales pipeline are now complete.

Construction is due to commence imminently to lay the required 4km (approx) of
pipeline. The construction is expected to take several weeks to complete and a
further update will be provided when construction is near to completion and
testing can begin.


Empyrean has a 10% working interest in this well.


Further updates will be provided as significant events occur.

cyril

This should be one of the crappiest share of all time.

oh be fair; there's goo and seo and i'm sure you could dig out some other deeply distressed faves of this site

oh, yeah, VOG and RPT.

YEP,thats why ibstutions took a 1/3d stake regently,2 of our Aussie JV's ,
ADI is being bought and AUT is rasing a hugh amount of capita?

l



Oil Barrel June 22, 2010

"Aurora Oil & Gas Raises A$41 Million To Support Shale Play Ambitions

Aurora Oil & Gas has announced a A$41 million fundraising through a placing and share purchase plan to support its shale drilling ambitions in Texas. The ASX-listed company has placed 46.67 million shares at a price of A$0.75 per share to raise A$35 million, bringing a number of new institutional shareholders onto the register, plus a fully underwritten share purchase plan, at the same issue price, to raise the remainder of the balance.
The proceeds will be used fully to fund the companys planned drilling programme in the Sugarkane field in Texas, which is part of the emerging Eagle Ford Shale trend. The money will also provide some financial flexibility to accelerate the drilling or acquire additional acreage in the area.
This is proving to be an exciting project for Aurora and its backers, putting the small cap company on the frontline of the booming unconventional gas industry in North America. This has been reflected in a share price that has more than doubled since the start of the year, to stand at more than 80 cents a share this week. Analysts are betting that rise will continue as ongoing drilling drives up production and puts the oil junior on the radar of reserves-hungry predators, willing to play a premium for a commercial shales play.
Aurora has bagged itself a participating interest in 50,000 acres of the liquids-rich Sugarkane gas and condensate field in South Texas, which has happily turned out to be an Eagle Ford shale play, one of the more economic shales in the US. The project wasnt going anywhere fast, however, as the company went into survival mode during the financial crisis and it has only started to motor over the past nine months following a key farm-out deal with Hilcorp Energy, the fourth largest private E&P company in the US and an experienced shale operator.
Hilcorp agreed to carry the small cap company through ten wells, a deal that reduced Auroras stake in the Sugarloaf portion of the field to 10 per cent, in the Longhorn portion to 25 per cent and the Ipanema portion to 30 per cent. This is a much more appropriate cost exposure given the potential scale of the development there are 500 well locations on the acreage, with 50 expected to be drilled by the end of 2011.
This drilling programme should deliver some serious data about the potential of the shales, which can prove difficult and costly to develop. Some big money has been piling into the Eagle Ford shale, including big hitters like ConocoPhillips and Petrohawk, and their drilling experiences are proving invaluable: wells are now being drilled cheaper, with higher initial production rates and slower decline rates (an important factor in shale plays, where first year production declines can be 80 per cent or more). The well results from nearby acreage has also started to confirm that Auroras project lies in one of the sweeter spots of the trend, with a high condensate ratio and high pressure rates.
The condensate is important, particularly given the current low gas price regime in the US. Speaking at an oilbarrel.com event in March 2010, Stewart said about 70 to 80 per cent of the value of the production comes from condensate, even though this is a gas field. We break even at a gas price of below US$2.70 because of the condensate ratio, said the Aurora boss. It means we are largely immune to the lower gas prices.
The joint venture partners are busy with the initial ten well programme under the Hilcorp farm-out. Earlier this month, the company released details of the Rancho Grande-1H well in the Sugarloaf area of the field, which flowed at an initial test rate of 3.19 million cubic feet of gas per day and 1,170 barrels of condensate per day on a restricted choke setting. The company is choking back the well to see if a limited reservoir drawdown can improve decline rates and the ultimate recovery from the wells.

This is part of the ongoing trial and error of process of optimising the development plan to drain the shale rocks effectively. The company is learning as it goes, both from its own experiences and those of nearby operators: it recently, for example, advised investors that it would redrill the Kowalik-1 well because that earlier well didnt use the completion that is proving more effective on more recent wells.
Some of the more recent wells are certainly delivering some strong production numbers. The first 30 production figures from the Morgan-1H well indicate average daily production equivalent to 19.97 million cf/d, with the Easley-1H well flowing 10.13 million cfe/d. The company said these production numbers were very encouraging for the economics of the field.
The company reckons it could have up to 50 wells on production by the end of 2011, which should deliver 3,700 barrels of oil equivalent per day net to the company. By FY 2013, analysts expect the company to be generating net production of 5,500 boepd and possibly double that by FY 2015. Analyst Jon Bishop of Perth-based Euroz Securities said the companys equity in the project could see it become a significant oil and gas producer. In addition, growing production will support steady growth to reserves, which will make for an increasingly attractive target to larger operators looking to enter or increase their presence in the play, said Bishop, who in May initiated coverage of the stock with a Buy rating and a price target of A$1.02 a share. On this basis and given the current market capitalisation we feel that AUT is significantly undervalued."
cyril
PS. personally i made a small fortune from VOG.