Empyrean Energy

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

I DONT UNDERSTAND THEN,WHY PUT GOOD MONEY AFTER BAD,AND also no way will it end up 2p.haha

Personally, I haven't, but I have played EME to the short side in recent months, i.e. following the overall trend. Last year/earlier this year I was long.

The point is they have not had any good news for months and confidence in the management is quite rightly low. C'est la vie.

As for 2p................never say never in the investment game. ;-))

For those who didnt read it over the weekend, or on friday night:

http://www.couchoil.com/daily.asp

Subject: Sugarloaf 1st Phase Good
Date: September 29, 2006
Sugarloaf Hosston 1st phase a success

We have dug the well to 14,480 and logged the upper sections.
Well was trying to flow back gas during the logging operations.

The Austin Chalk zone from 11,925 to 12,200 looks very oil productive.

The log results may set us up to drill over 100 wells in offsetting lease (26,000 acres) to just produce the oil from that zone. The porosity is just about double from what is normally found NE of our well location.

Some folks have successfully produced with as low as 3% porosity. We have 9 to 12% porosity.

The Edwards is from 12,275 to 14,000 looks tight or too dense to produce.
The Sligo formation begans about 14,500

The Hosston (Objective) begans at 17,000 Planned total depth is 21,000.
This morning they are running 9 5/8 casing to 14,480

:-) but don't ask me why

sp has got very excited today on no published news, no exceptional volume and buys not especially outweighing sales ...... make of that what you will

WE WILL

DONT NEED YOU TO TELL US WHAT TO DO.

Thanks

no need to shout either ..... i may be old, but don't yet need an ear trumpet

Interesting chart now. Been getting more bullish last week or two. I've no fundamental reason to buy obviously, but will watch this upturn. Downtrend appears broken. Hmm.

Picked off TMF

http://imagesignal.comsec.com.au/asxdata/20061012/pdf/00655868.pdf

Go to page 27

Thats the news we were waiting for.....thanks....come on 1.90 +
well done to those who stood by EME.

Yeah, well done!

Empyrean Energy PLC
17 October 2006



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


Operations Update - Eagle North-1 in California, USA


AIM quoted Empyrean Energy Plc today announces the following update on the Eagle
North-1 well, San Joaquin Basin, California, USA.

Victoria Petroleum NL as operator for the Eagle North-1 horizontal well on the
Eagle Oil Pool Development Project in the San Joaquin Basin has advised that the
deep workover rig at the Eagle North-1 location has completed fishing operations
and is currently preparing the Eagle North-1 well bore for a future re-entry and
side track to drill, complete and test the lower Gatchell oil sand zone.

It is not considered cost effective to continue operations to retrieve the
production valve and tubing conveyed guns in the horizontal well bore. The joint
venture partners have decided that the money spent continuing the work over
would best be spent on a future re-entry and side track from the current cased
Eagle North-1 well bore.

Planning has commenced for this future operation with the exact timing of the
operation subject to the availability of the required deep drilling rig,
equipment and personel.

The target zone for the re-entry and side track will be the 177 metres (580
feet) of the lower Mary Bellocchi Gatchell oil sand in the horizontal well bore
over the interval from 4,209 - 4,386 metres (13,810 - 14,390 feet).

The lower Gatchell oil sands have produced at rates of up to 223 barrels of oil
per day and 0.7 million cubic feet of gas per day from the 12 metre (39 feet)
interval of lower Mary Bellocchi sand in the Mary Bellocchi-1 vertical well, 366
metres to the southeast.

A successful Eagle North-1 horizontal well and its subsequent production
performance in the longer term will provide an indication of the potential size
of the Eagle Oil Pool.

Empyrean's Commercial Director, Tom Kelly commented - 'The Eagle Oil Pool
remains a very attractive appraisal target as we know that oil is there - we
just need to flow test.'


The information contained in this announcement has been reviewed by the
Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has
over 40 years experience as a petroleum geologist.

Turning into a comedy of errors at Eagle Pool - ouch

This a good one to wtch Big Al.

Any thoughts I ever had of buying have been well and truely put to bed.

Good luck to the holders though, (cause I'm a nice blokie).

Lloyds was entirely predictable.........

You shorting this Big Al :>))

No aj - was too slow. ;-(

You still holding or did you leap with a parachute? ;-))) Wot u doin' Xmas then?

sww

It was all a bit of a disaster at Eagle Pool when they have to set liner early halfway through the drilling of the drain hole. I did post that it did not sound like all was completely AOK. Disappointing for some I guess.

latest RNS looks like euphemistic shorthand for "shit!"

ROFLMAO!

Al ... from that, i assume you agree ..... for me, this company looks like the proverbial busted flush ..... too much bad news keeps coming out of the woodwork

cynic - never say never with these exploration companies. However, most in recent uears are run by muppets who rely on a promise to attain finance from the investing community and with the smaller players that invariably means us punters.

One well can make or break these companies. Unfortuantely, your average punter always believes the "make" bit. In exploring for oil and gas the hit rate is actually quite small. Luckily for many these days the price of oil is so high that they can drill the previously uneconomic fields and potentially make money. Unfortunately, technical difficulties can flip the economice the other way. IMO Eagle Pool is getting that way.

EME has had trouble in all prospects bar Sugarloaf thus far. I suppose they should get lucky some time, but what does it do for the fundamentals? Trade the chart and forget the numbers with these small outfits. Christ, BP is currently trading at a lower price than when oil was <$20. Go figure.

All IMO
Al
;-)