Empyrean Energy

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

shadow

Eagle-1 was/is not exploration. It was a sidetrack in a known area to produce oil and therefore cashflow. It's a mess.
Glantal tested a "dead cert" and produced water without a whiff of gas. It's a mess.
Sugarloaf I know little about, but the track record here is poor by anyone's standards.

EME are best left alone until they prove their capabilities IMO. There's far better opportunities out there.

Glad someone agrees with me ..... thanks Al!

;-))

and heading back south again after that strange littkle flourish of the last day or two

Just a bounce. Up to 47p at the moment.
Heavy trading in GOO & others.
Think it's better to look at a trend rather than an hour by hour movement.

EME presently IMO is very high risk. The market cap is underpinned by Glantal, which so far is a water bed, a 750K US$ farm in for 6% of Sugarloaf high risk drill, and 38% of EN-1 well (with the Eagle field so far producing 2 non commercial wells MB-1 and Eagle-1 and this is third time lucky to try to get a commercial flowing well with EN-1) and the EN-1 well has hit lots of problems so far.

Sugarloaf will take 90 days to drill, and if any pay then at least another 30 to test, to news around Christmas there.

EN-1 well, this is key now, good news and a jump up to say 80p to 90p levels, but if EN-1 fails for flows badly then below 10p is very possible.

A high risk punt now is EME, not one for those who cannot afford to lose money IMO.

and even if you can afford, do you really need to?

Well put Cynic - I am not really up on EME but given the negative comment on this BB I don't see the need to be. There are certainly safe havens for one's money out there that will also provide decent multi-baggers.

I was hoping we'd get to 60p for a really juicy short, but it didn't. Not quite an evening start either, unless you hit it early today - I didn't.

Continue to watch

They maybe slight on going problems, at eagle 1 north, they have taken time to reckify thecurrent situation, therefore oil is present at this site, and will flow as expected, even though a longer than expected time as emerged, Multi news on all 3 project are due to be released shortly, and welcomed.

"slight"?????? .... you wear rose-tinted specs I assume .... I suppose you also KNOW the news will be ace and that the oil will be positively gushing

the sugarlosf site is now expected to be spudded this August ,it is presently 17th, as stated at the Agm this now takeing effect and on course to be confirmed. Also Eagle -1 north will flow the the 1000 bopd, as previously estimated not to mention this will be commercial oil. As soon as this flows preparation will commence immediately within a few weeks to extract oil. Initially a higher proporation, previously estimated will be somewhat higher bopd.

Being new to the oil market which I am following with great interest, could someone please explain the term 'spud the hole' and 'spudding'. It might help me understand a little bit more about the market.

thanks

Mr T, here is a link to some background info on drilling and completion of oil and gas wells.

http://www.ukooa.co.uk/education/students/drilling.htm

Hi Darradev

Many thanks for the link. This will help me understand where my money is going!

Cheers

you are most welcome.

cynic - you didn't respond to shadow's #324 post!
I have been desperatly trying to find info on the prospects for EME. This at least seems positive.
If you know different, please share, 'cos any info, even if bad, is better than no info at all!

I know nothing ..... nor I suspect does Shadow and certainly the market does not think he does .... That does not mean he will be proven to be wrong; merely that there is nothing known to report other than that Sugarloaf is expected to be spudded within a few days (that's prob provable) ..... This in itself is merely of interest until there is something either good or bad to report

Cheers.
I suspect I know why you picked that user name!
Nevertheless, wise words.

more to the point ..... if you currently hold the shares, then just arguably hang on for the time being and say lots of prayers ...... if you don't, then don't! .... if there really is sustainable good news, then there will be plenty of time to get on board, but the odds must be stacked against