Empyrean Energy

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

SP misbehaving quite badly on no apparent news ...... suspect market knows more than us, so take cover

except now, after touching about 79 mid, sp has recovered to 87 mid .... so what do I know? ...... About as much as the England football or cricket teams!

Maybe testing is imminent now.

the share itself is downright testing in its own right!

Good to see it ends on a day's high...looks like good news is pending soon.

Empyrean Energy PLC
('Empyrean' or the 'Company'; Ticker: (EME))

Notice of Annual General Meeting

The Company announces that an Annual General Meeting (AGM) will be held at the
Tate Britain Room, Hesperia Hotel, 2 Bridge Place, London SW1V 1QA on 7 July
2006 at 8:30am.


Anyone going???

Wonder if we will get any news prior?

Regards

I would say snowball's chance of news beforehand ....... Wish I could convince myself that news was going to be good anyway though sp seems to beholding quite firmly, albeit that the level is pretty depressed (and depressing) anyway.

young Mr Cynic
are you a holder?
are you attending the fun event on Friday?

no i am no longer young, yes i am a holder and no i shall not be at the agm ...... and i hope it is fun, though i have some doubt .... i fear a parson's egg at best

Cynic

I think the curate has the egg and the parson has the nose.

We seem to be running the same portfolio, thanks for your comments.

Predateur

Empyrean Energy PLC
05 July 2006


Glantal Gas Project, Germany

Completion rig arrived on site and 'rigged up'.
Operations at Glantal-1 have commenced.
The first of four zones being tested will be perforated following wellbore conditioning operations.


AIM quoted Empyrean Energy PLC today announces that operations have commenced in preparation to test four initial zones for the presence of gas at the
Glantal-1 well, the first well drilled by Empyrean and its partners in the Glantal Gas Project. The operator of the Glantal Gas Project, Pannonian International Ltd ('Pannonian'), a wholly owned subsidiary of U.S.-based Galaxy Energy Corporation (Amex: GAX) has advised that following the arrival and rigging up operations of the Koller workover rig, operations are currently running in hole in preparation to condition the wellbore for testing.

The first of four initial zones chosen for testing will be perforated as soon as current operations to condition the wellbore in preparation for testing are complete.

We will make a further announcement as operations progress.

Executive Director Tom Kelly commented 'We are pleased that operations to test the first well drilled by Empyrean and its partners on the massive Pfalzer Anticline are now underway. This marks an important milestone for Empyrean in what has been a busy year.

so in anticipation of a result, albeit that EME have already said that they need little gas for it to prove commercial due to proximity of processing plant etc, shares zip up 10p ...... something of a strange world

clearly AGM was one big yawn

No cynic, reading reports from those who attended, they were all impressed.

Glantal due to start Monday with 1st results possibly Wednesday starting
with the lowest,taking atotal of 30days to complete.

Eagle testing in 3 weeks with Tremendous floresence shows under UV light.

Sugarloaf could produce up 2tcf with 6% attribital to EME.

So the next 2 months are going to very exciting?
cyril

cynic,
I was impressed. lots of info we already knew, but better knowledge where we are and glantal dates / timescales (sure we had them before!!!)
But I was happy with the Brophy performance, and that is what I wanted to see.

would be happier still if the market was impressed, though in truth better if it reacts to results than anticipation as so often happens

cyril - I've seen fabulous fluorescence under UV light on many occasions and then it wasn't viable. I'm afraid it means little unfortunately.

Big Al- While accepting its not a certainty, the fact they have UV is a positive.Couple this with the Well has produced over 200bopd (at the time was considered to be uneconomic)gives rise to optimism, which is why they are continuing with testing. So we know we have oil, (at the start it was stated as just an engineering exercise) again its not a foregone conclusion and as the saying goes "the proof's in the pudding" imho i believe that we will get oil flows, its a matter of in what quantities.They also said they may drill up to 7 Wells in Eagle.
But in the short term Glantal (which hopefully is the jewel in the crown) is
most likely to produce news? Any sort of commercial find will see this companies
value "rocket",i believe they quoted 50mcf as economic against a possible
6.2 tcf for one area of the acquistion.
One other piece of news from the AGM, 2 other CBM projects have been brought to their attention, but they are understandably tight lipped at this moment concerning them.
cyril

Cyril - positive, yes, but far from the golden goose on more occasions than not. I'm about to celebrate my 25th year in the oil & gas business and what often gets me about these news releases with these companies, particularly the small ones, is what they don't say. To my mind, I wonder why they would feel the need to mention fluorescence at all apart from keeping the tone positive when in reality there are a myriad of other more compelling things that should be noted.

Unfortunately, I've seen this above tendency frequently since oil became a big thing this past couple of years. If it helps the price, then ride it, but be prepared to cut and run pronto. A lot of these outfits are run by cowboys lining their own pockets at the expense of punters like ourselves - not saying EME is BTW, the a comment like that makes you wonder sometimes.

Best of luck anyway, folks.

Thanks AL for the insight, always welcome to hear from someone with hands on
experiance.Certainly given me food for thought,we are of course discussing
the Eagle project?
Whats your take on the Glantal Gas Project, which is due results over
the coming days/weeks,and the reason i'm in EME.
cyril