Empyrean Energy

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

"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

I have been following all trades on EME,the only sellars i see selling is the small trader,whom may take advice on threads like this.
As far as i can see no large sales recently.Unless 10,000 is a large sale,but even then thats only a 4000 trade.
I will hold my 17,500 bought at 1.26,and hopefully get some of my money back,or as some say (4 +)i migh even make some money.
Time will tell.

Yes, I still hold stock. 47p & 97p.
I am wise enough to assess information from lots of sources before I make any decisions. Discussion boards are useful as providers of ideas and links to news threads, particularly with high risk stocks where the share price moves on the mere hint of news.
I will continue to hold, pending profitability.

so then .... Sugarloaf drilling has started, but having read through the technical gobbledegook, and notwithstanding that EME will report weekly, am I not right in thinking that nothing will really be known until October/November? ....... Also, even if reasonable commercial volumes of gas are found, is a 6% holding sufficient to make the shares worth (say) 2.00 or even 1.50? ..... If not, is today's price (about 52) leaving too much risk on the table?

Cynic you seem to a lot to say about nothing on this thread,are you trying to drive the share price down,then buy cheap,or do you just like to open your mouth and talk a lot of gobbledegook (your words).
Please do tell,do you hold shares with EME.

Risk is what this is all about. If you want steady, sustained growth, paying a good dividend, then exploration stocks are not the place to be.
This morning the price of EME bounced up 20% just because they started drilling. They are still not producing an end product!
If you set your sell to trigger automatically at a certain, realistic price, there is no reason not to take advantage of the bounces. Where else can you get 10-15% return on your money in a short period of time?
I agree, that the rise is purely a knee jerk reaction to good news and won't last. I am afraid brand loyalty is a thing of the past. Lock in profit & move on.
However, I do think that the momentum of (good) news from EME should take the price over 100p, but as you say, that is going to be in the late autumn.

in answer to the Q, i held EME for a long time, but when all collapsed, i got out at about 85 ..... nevertheless i still follow the share (and a good number of others) ..... if you think EME is a thundering buy at this price, then put your money on the table now ..... for myself, and Harrycat concurs, i think the present bounce is pure "lemming" and likely to be unsustainable, especially if there is any general market sell-off (far from impossible)

I see Cynic,you sold at about 85p,so now there is a move up for EME and you dont like it as it may surpass the 85p you sold at,or are you mad that you didnt buy back in at 38p.
People can see for them self,I do hold shares which were bought at 1.26 so i have a long way to go before i see any return if any,but i will take the chance,and hope it comes good.
There is always risk.

think what you like ..... and if i had thought EME was a "thundering buy" either at 38 or even now, i would put my money where my mouth is .... i don't, though there is a (reasonable?) chance that EME will recover at least spome of its poise ..... Equally, i did not and will not buy RPT as i think the management stinks, notwithstanding that share too has surged in the last week or so ......

for myself, i think (perhaps wrongly) that VOG is a better bet, and even more speculatively, GOO and CHP, though I would be very pleasantly surprised if all 3 or even just 1 hit the jackpot.

Well i am sure urself(even thoo you dont hold EME)and those who do hold would like to see this one hit the jackpot.

Regards

indeed, though as i said in my earlier post, i don't think there is any hurry to jump on board as "true" news is at least 8 weeks away ..... at least regular updates will keep the share on the bubble one way or the other