Empyrean Energy

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

Is on the move up today, so .......

Keep an Eye
EME - Mid 40.75p
Reason - Today the SP is turning after doing a FLAG on the chart, large buying trades earlier, indicator ready for the turning

       LUNCH TIME FUN

BIG al my opionis EME is starting to head upwards, no more slagging off as i only repay the complaiment, as previous could be turning the charts in a postive direction as we await next updare on sugarloaf and Eagle-1 hopefully next wednesday.

I'll watch carefully on Wednesday then. ;-0

JOKE OF THE DAY

One night a guy takes his girlfriend home.
As they are about to kiss each other goodnight at the front door,
the guy starts feeling a little horny.

With an air of confidence, he leans with his hand
against the wall and,smiling, he says to her:
"Honey, would you give me a bl** j*b?"

Horrified, she replies "Are you mad? My parents will see us!"

"Oh come on! Who's gonna see us at this hour?"
"No, please. Can you imagine if we get caught?"
"Oh come on! There's nobody around, they're all sleeping!"
"No way. It's just too risky!"
"Oh please, please, I love you so much?!?"
"No, no, and no. I love you too, but I just can't!"
"Oh yes you can. Please?"
"No, no. I just can't"
"I'm begging you ... "

Out of the blue, the light on the stairs goes on,
and the girl's sister shows up in her pyjamas,
hair dishevelled, and in a sleepy voice she says:

"Dad says to go ahead and give him a bl** j*b,
or I can do it. Or if need be,
mom says she can come down herself and do it.
But for God's sake
tell him to take his hand off the intercom.

RSI - you mean get the news first. ;-)))))))))))

Well, the market seemed to like the new drilling report this morning, even if we didn't understand every word!

have read the RNS re Eagle, and it actually says nothing at all other than testing will restart ..... when a genuinely commercial reserve is found, that will be the time to start getting excited ......

Meanwhile, i am happy to continue my stance that there will be plenty of opportunity to make a profitable investment as and when EME actually find anything

Nevertheless, on a reasonably dull day on the markets, had one been astute enough, there was a quick 10%to be made today on EME!
Sadly, I confess that I was not astute enough.

Can't see how you reckon that, no matter how nimble you were ...... spread is 3p; price opened 41 mid = at least 42 offered; high is where we are now at 44 bid; gross margin = 2p at very best before deducting all your trading expenses

I was using the stats on Selftrade.
Open 41p, highest offer price was 49. Allowing for a 3p spread, the best margin could have been roughly 10%, assuming the best bid price was 3p down from 49p.
Of course, that is gross, so dealing costs would have to be deducted from that.

The opening offer was 42p and the best bid was (very) briefly 48p. It did hang around 47p for a while though. ;-))

Why no commemt from others last few days? Intrigued.

today's drilling report is moderately encouraging and has boosted sp, at least temporarily, by 6p

I had an automatic sell on the system which triggered at 55p, so now need to wait for the usual bounce, which shouldn't be a problem as the next significant level of drilling won't be reached until mid Oct, so I can see it going back down to the +/-40p level.

certainly "gas shows" and "commercial gas flows" are a long way apart

As EME are yet to release this:-

SUGARLOAF-1 PROGRESS REPORT 28 METRE POSSIBLE GAS PAY INTERSECTED IN SECONDARY TARGET

Wire-line logs were successfully run over the open hole section of the well between 6,500 feet (1,981 metres) and present well depth of 14,480 feet (4,413 metres).

Interpretation of logs by the operator, Texas Crude Energy Inc, indicates a 92 feet (28 metres) zone of possible gas pay corresponding with the zone of gas shows obtained during drilling in the secondary target (reported to the ASX on the 20th September 2006).

While Aurora considers that the logs are encouraging, the commercial significance of loginterpreted possible pay can only be assessed by flow testing and that there is a risk that the zone may not flow at commercial rates. Flow testing of the zone is not programmed at this time but will be considered after the well has been drilled to total depth and the primary target assessed.

The current operation at the well-site is the running of the 9-5/8 inch intermediate casing to present depth of 14,480 feet (4,413 metres). Once run and cemented, the well will continue drilling in 8-1/2 inch diameter hole to the primary target expected between approximately 17,000 feet (5,182 metres) and proposed total depth of 21,000 feet (6,400 metres). There is a further secondary target
in carbonate rocks between present depth and just above the primary target.

Assuming trouble-free drilling, the primary Hosston Formation target is expected to be reached in mid to late October and total depth in mid November.
ASX releases will continue to be made routinely every Wednesday unless there are material matters which require an earlier release.

Participants in the Sugarloaf-1 well are:
Aurora Oil & Gas Limited 1 20.0%
Texas Crude Energy Inc (Operator) et al 2 41.5%
Eureka Energy Ltd 12.5%
Adelphi Energy Ltd 20.0%
Empyrean Energy plc 6.0%

I have not seen a cautionary note in respect of a possibility of no flow rates before.

Who wrote this, was it you cynic?

i am incapable of writing such considered assessments!

EME suspended pending an announcement.

Quite ridiculous as this is already known!!

FWIW all the partners did the same in Oz overnight, then resumed up around 20% on the news I have alredy posted.

I had thought I would take a punt, but as they have raised the lifeboat till high tide, I dont think I will bother.

seagoon* ..... leave well alone, to make a rather bad pun but with serious undertone