Empyrean Energy

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

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

EME are very good at lies, half-truths and misleading announcements ... they've had years of practice to perfect

Careful now .

cynic...Kelly has made a note of your comment

RNS update:

28 February 2011



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.



Production Data

The following wells have been on production for a period of 60 days and Empyrean is pleased to provide the market with an update on the produced volumes during that period:-




Working Interest
Total Gas Production (mmscf)
Total Condensate Production (bbls)
Average Daily Equivalent Oil Rate (boe/d)*

Urrutia #1H
3%
102.3
35,084
869

Kowalik #1R
10.2%
90.2
28,825
731


*The equivalent barrels per day production rate has been calculated on a simple 6:1 ratio.



Remedial operations on Direct Assets #1H well were successful and the well commenced production on 27/01/11 on a restricted choke setting. Over the most recently reported 5 day period the well averaged the following production rates.


Working Interest
Average Daily Gas Production (mmscf/d)
Average Daily Condensate Production (bbls/d)
Average Daily Equivalent Oil Rate (boe/d)*

Direct Assets #1H
3%
1.48
479
726


*The equivalent barrels per day production rate has been calculated on a simple 6:1 ratio.

Due to the length of time between the fracture stimulation of this well and it being unloaded to sales, some of the pressures created during the stimulation process had bled off into the formation; this is a likely explanation of the lower early production rates observed in this well.

Operations

Holman #1H (3% WI)

This well has been drilled and cased with a Total Depth of 17,570 ft. The fracture stimulation of this well commenced on the 24th February 2011 and Empyrean will update the market when stabilized flow has been achieved.

Jordan #1H (3% WI)

This well has been drilled and cased with a Total Depth of 16,472 ft. This well will be fracture stimulated in due course and Empyrean will update the market when stabilized flow has been achieved.

PMT #1H (1.11% WI)

This well location lies across the Sugarloaf and neighbouring Hilcorp operated AMIs in which Empyrean does not participate. As such Empyrean holds a blended working interest of 1.11% in this well. The well spudded on 14/2/11 and Empyrean will provide the market with an update once the drilling of this well has been completed.

Buehring #1H (3.0% WI)

Drilling operations commenced on the 18/02/11 and Empyrean will provide the market with an update once the drilling of this well has been completed.

The information contained in this announcement was completed and reviewed by the Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has over 40 years experience as a petroleum geologist.

This is due a re-rating. It is selling at a discount to its drilling partners and is doing the rounds in the City. The sp has been considerably higher when there were less proven reserves, but it has been overlooked since.

Everyone seems to have got bored with this stock. Fair enough but with it producing some $4m pa and rising, a market cap of just 12.5m and one of its partners being bought out by Marathon for a heft $3.5b (for 50%) then there is every reason to reckon that this is going to get a decent re-rating soon.

Thank heavens for that! I've already got a few!

EME's AGM on Friday, June 24th went well. It lasted 2 hours with the directors being very willing to answer all questions on Frank Brophy's geological presentation. It all looks to be very prospective with a much greater number of wells coming on stream and these being in richer areas than have been drilled so far. It would be likely that Marathon Oil, which has already bought in, could look to acquire more of their partners. Either way, EME's shares look far too cheap now.