Empyrean Energy

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

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.

EME is steadily building up its production through its JV partners' drilling programme. The sp has fallen behind events and sometime soon will get noticed for a re-rating.

StockMarketWire.com
Empyrean Energy can start to access the $50m loan agreed with Macquarie Bank.

Empyrean said it had now satisfied the major conditions enabling it to draw down on the first $10m of the facility.

The money will be used to continue the development of the firm's Sugarloaf project, in the Texas Eagle Ford shale play.

Empyrean Energy confirms Marathon plans at Sugarloaf
26th Feb
http://www.directorstalk.com/empyrean-energy-confirms-marathon-plans-at-sugarloaf/

Empyrean Energy (LON:EME) has increased its working interest in the Eagle Oil pool development project in the San Joaquin Basin, California, to 57.2126%.

The increase in working interest has resulted from previous partner FAR Limited deciding to surrender its interest.

FAR Limited has stated the reason for surrendering its interest in the project along with another non-core asset is to focus operations and exploration efforts on its African assets.

There is no direct cost associated with the additional working interest other than the nominal costs of assignment and recording.

Empyrean will pay a proportionately higher share (57.2126%) of future joint venture costs.

Missed this one Harry.lol

http://www.investegate.co.uk/empyrean-energy-plc--eme-/rns/production-and-operational-update/201304190700047566C/

" Revenues for the 12 months to 31 March 2013 increased by 119% to £5,893,000 (2012: £2,694,000)

· Net profit after tax for the 12 months to 31 March 2013 increased by 198% to £2,014,000 (2012: £675,000)

· Substantial drawdown on US$50 million Macquarie Bank loan to fund Sugarloaf AMI development (US$10.52 million drawn at 31 March 2013)

· Fully funded for current proposed drill schedule through 2013"

MC of £15mm.

http://www.investegate.co.uk/empyrean-energy-plc--eme-/rns/final-results/201305150800027483E/