Empyrean Energy

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

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.

Slowly but surely.

Sugarloaf Project, ("Sugarloaf"), Block B, Texas USA



Empyrean is pleased to provide the following update on production at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.

Production Update

The following wells have reached the 60 day production milestones:


Fractured Horizontal Length (ft)
Total Gas Production (mmscf)
Total Condensate Production

(bbls)
Average Daily Equivalent Gas Rate (mmscfe/d)*

Morgan #1H
4400
201
65,200
17.2

Easley #1H
2750
221
19,600
8.5




* 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. Further production updates for these wells will be provided in quarterly reports going forward.


cyril

Looks like news on the way,could be Cartwright at T/Depth? Whatever it is the SP is moving strongly northwards?
cyril

Article which is causing a stir.
cyril


"When this is all over, I think I'll buy myself an airplane..."

Last month, I spent several days driving along the coastal plains of south Texas... much of it with one of the most successful independent oilmen in the country.

Like most Texans, my guide on the trip was a natural risk-taker... and an eternal optimist. And while a lifetime of hard work and drilling success has brought him considerable wealth, it's this region of south Texas that has him contemplating "personal airplane" levels of wealth.

I spent about two weeks in the area... inspecting drill sites, looking at wells, and reviewing data from drill logs. My other tour guides were a bunch of genuine Texas wildcatters. Collectively, these guys probably have 100 years of experience scouring the Texas plains for oil and pumping out what they find. They've gone through plenty of booms and busts. It takes a lot to turn their heads.

And in this region the Eagle Ford shale field they all think they've found the greatest payday they'll ever hit.

As you've probably read in these pages, the Eagle Ford is a huge shale formation that begins near the Mexican border and sweeps 400 miles northeast almost to Houston. It's best known as Texas' "oil kitchen." Buried more than 12,000 feet underground, oil from the Eagle Ford leached out over the centuries into the more porous limestone above it, creating some of the most prolific oil reservoirs in the Gulf of Mexico basin.

Drilling shale formations like the Eagle Ford for the natural gas trapped inside has been the most important trend in the U.S. energy sector over the last decade. Developing the tools to extract shale gas is singularly responsible for an explosion of U.S. natural gas reserves. Now, oil and gas explorers are applying those tools to the biggest shale formation in Texas.

This play is new enough that it's difficult to offer a reliable estimate on how much oil and gas it holds. But consider independent explorer Petrohawk, which kicked off the discovery. It had no production here in 2008. Today, it's producing more than 63 million cubic feet of natural gas and 1,000 barrels of liquids (like butane and gasoline) per day.

Also... two of the early drillers in the region, Pioneer National Resources and EOG Resources, believe their assets hold 1.2 billion and 1 billion barrels, respectively. If Pioneer and EOG are correct in their assessments, this field could produce 5 billion to 10 billion barrels through its lifetime. That would make Eagle Ford the third-largest oil field in the U.S. today.

At one point during my visit, an oncoming semi was so big it forced us up on the side of the dirt road. We had to drive into the sunflowers to avoid a collision. The truck was moving a huge new drill rig, one of the many flooding into southeast Texas.

In March, 43 rigs drilled wells in Eagle Ford. That's up to 61 drilling there today. Nearly the entire fleet (91%) is in use. There just isn't any spare capacity. More rigs need to come into the region, and they will. In the Haynesville shale up in Louisiana, one in four rigs sits idle. In the Barnett, just up the highway in Fort Worth, one in five rigs is out of work. I expect some of those rigs to make the trip to south Texas over the next few months.

The land rush is on. Men and equipment are flooding into the area. Big operators have hundreds of thousands of leased acres. India-based Reliance Energy just spent $1.3 billion (roughly $10,000 per acre) to partner with Pioneer National. Giant oil companies like Shell and ConocoPhillips are working side by side with big independents like Petrohawk and EOG. Nearly all own hundreds of thousands of acres here.

My favorite way to invest in this idea is through companies with lots of unexplored, undeveloped acreages under ownership or lease. Petrohawk, EOG, and Pioneer all own or lease substantial portions of the Eagle Ford. I also recently told my S&A Resource Report subscribers about two companies that throw off huge dividends, yet could skyrocket in price because of their Eagle Ford land positions.

I told my readers to get in soon. One of the oilmen I rode with said the Eagle Ford will easily be the biggest discovery of his more than 30-year career... and maybe the largest in the history of the U.S. oil industry.

Good investing,

Matt Badiali

P.S. As I mentioned, I just told S&A Resource Report readers about two stocks with large land holdings in this area. Both have the potential to rise at least 200% as land around here booms. Plus, they both offer their shareholders safe 8% yields on their money while they wait for the big payoff. You can read all about them in my July issue. Learn how to come on board as an S&A Resource Report subscriber here.

AUT quarterly report can be found on the ASX.
From that report, Kowalik 1-R
currently 17650ft+ would seem to be the reason for SP activity?
cyril

13th August 2010
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))

Bulletin Board investigation

The board of directors of Empyrean, the oil and gas exploration and production
company with assets in the USA, today announces that the company is
investigating multiple potential cases of Bulletin Board participants posting
possibly defamatory, misleading and false statements about the company and its
management over various internet chat-room sites.

The decision to take further action against these defamatory posters has come in
the wake of similar London Stock Exchange - AIM listed companies being
successful in the High Court of Justice in obtaining Norwich Pharmacal orders
enabling them to instruct the relevant Bulletin Board operators to disclose the
identities of the offending posters.

The Company is concerned that some of the offending posters have not only been
defamatory but may also have breached various regulations including market abuse
and market manipulation.

Commenting today, Empyrean Executive Director - Tom Kelly said "The internet
provides a great platform for free speech and the dissemination of information,
however the common law and other relevant regulatory principles and protections
need to apply and be enforceable. This is a shot across the bow for anyone
contemplating using the Bulletin Boards for disseminating defamatory or
deceitful information about listed companies or their management. The culprits
that have already breached regulations and think that they can hide behind
multiple internet names and pseudonyms should know that there is a clear and
easy pathway to reveal their identities and bring action against them - and this
process has commenced. It is our view that greater regulatory scrutiny is needed
in this area of internet based regulatory abuse."





For further information
Empyrean Energy plc
Tom Kelly
Tel: +618 9321 6988
Astaire Securities Plc
Shane Gallwey / Toby Gibbs
Tel: +44 (0)207 492 4750

This information is provided by RNS
The company news service from the London Stock Exchange
END

Also announced spuddng of another well.
cyril

Sh*t cyril pack your bags quick...I'll put you up ......for a small fee....lol.,.

no wonder EME has been such a lousy share to follow ...... silly me thought it was all down to the management and company's lack of performance in living up to its various "spiffing" announcements and similar

baler ,cheers, LOL.
cyril

u can tell this will rocket soon...all the usual city tossers arent posting

yes u know who you are

bobsworth's in...QXL fame

Maestro

You said you bought PET @ 18p , did you make a profit ?

yes of course...why do you ask?

Anyone know how soon news is due on this one? Was told December but don't know if that was genuine or just hope.

kelly said 23rd december for results but that could be a lie..came from advfn bb