Empyrean Energy

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

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

Afternoon all.

Sugarloaf: 6% interest. I'm with Cynic on this one - it looks like a hold for those who are in. If the find is towards lower end of expectations then it won't provide a lot of upside to the shares. If it is multi-trillion cuft it could be worth a bit. Wait for the drilling results, IMO.

tcdmt - in my experience Cynic is one of the most objective posters you'll find on these BB's and I am grateful to him for posing the questions too many of us forget to ask. He's also frequently right! If your "sure thing" passes Cynic's tests, you could be on to a winner. If not, I'd query whether I was skating on thin ice.

and cynic wishes he was better at taking his own advice!

LOL - like me you benefit from 20/20 hindsight!! :O)

I notice that you (cynic) are a frequent visitor to the VOG board & that you have put your money where your mouth is, so please don't take offense. Your comments are welcome and digested.
But again, the point I was making is illustrated by EEN this morning. Output up, but test wells plugged & abandoned: Share price down 10%. That is pure knee jerk.
Good luck to all who are still travelling on the EME rollercoaster!

i almost never take offense and ceratinly would not in this instance

Eme , just look at it go, momentium building, plenty more left to come, dont you just love it.

Have a good weekend.

Cynic you are becomming tiresome, get over it and move on.

see independant today!

so what does the Independent say? ...... I know you are a fan of EME, so presumably there were encouraging noises, but it would be nice to know exactly what

Have checked The Independent website for EME news. Nothing.
Likewise F.T.
What's the gossip, shadow?

I found this on Sharecrazy, but so far have been unable to find the article in question:

15.08.06: -0.5, (51) an article in the Independent reports: Empyrean Energy rose 9p to 51.5p amid rumours it is about to update positively on its Californian operations.

This was dated 15th Aug, so it is now irrelevant anyway.
Haven't found any article dated 19th Aug. May have been a summary of their press release on the 18th Aug, which we have all seen.

The note of 15/8 would merely have been vague and not very accurate confirmation of the start to drilling at Sugarloaf and not, I am sure, anything at all to do with Eagle.

Shadow has signally failed to jump back with chapter and verse on his "hot news"!