Empyrean Energy

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

120p but then I am always an optimist.

reverting to my "pretty little chart" (post 503), sp has done as i predicted - i.e. hit 200 dma and fell back, prehaps more sharply than even i thought ..... my guess now is that it will fall to the slightly rising 50 dma at about 55/60p ...... in fact unless eme come up with some good and solid news in the pretty near future, sp could even break below that level

You are completely right, cynic

Empyrean Energy PLC
17 November 2006



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

Sugarloaf Hosston Prospect, Texas USA
-------------------------------------

Further gas show

AIM quoted Empyrean Energy PLC today announces that at 6am Texas time on 16
November 2006, the Sugarloaf-1 exploration well was drilling ahead at 19,434
feet (5,925 metres).

Since the last progress report released on 15 November 2006, the well has
encountered a gas show over an 18 foot (5.5 metres) interval. Total gas
readings peaked at 536 units from a background of about 230 units and
chromatography indicates the gas consists dominantly of methane (C1), with
ethane (C2), propane (C3) and a trace of butane (C4).

The economic significance of these gas indications will not be known until
wire-line logs, programmed to be run after the well has reached total depth,
have been interpreted and flow testing, if warranted, has been evaluated.

Drilling is continuing towards the proposed total depth of 21,000 feet
6,400 metres).

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



A whole 18 feet - WOW!

Excitable crowd aren't they?

It won't stop it going up in the interim though, sww!! ;-))

No but if there is nothing at the bottom, and they are nearly there, there will be a spectacular result here.........

Best watch this rather than play.

As I said before this is all very Danbury Dome'ish.

They feel the need to justify every foot.

SP goes up, the players take their profits and run before the drill gets to TD.

Just an alternative view which probably is very far from the truth.

If every drilling operation worldwide felt the need to fire off a press release every time they encountered a similar thing, the worldwide web would collapse under all the traffic!!

It's laughable

LOL!

Tend to think its about time to listen the cynic(s) now.

Run up to drill hitting could be expected -- see earlier comments c25 but at this level I see trading close to FV even if is commercial as market will trade this stock at big disc to NPV which could be around 140p if found what expected. Little to say they have hit more than expected so downside risk much higher given they have nearly doubled in price

For others' ref, my "pretty little chart" is Post 503 ..... not convinced enough with my own predictions to short at this sort of level or a penny or two higher, but could certainly not advocate against locking in at least some/most/all profits at this level.

for the record, 200 dma looks to be 84 ..... sp got to 83.5 mid and is now dropping back

cynic as you understand ta, what do you think of Styerling at the mo.

Please reply there.

Ta

SWW .... done

EME possibly only smelt a whizz of gas and it launches a drilling update LOL. Possibly a fart!

Wonder what they'll come up with this week.

;-)

Drilling ahead in 6.5 inch ................. cor, whats that smell?

LOL! Water?

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

Sugarloaf Hosston Prospect, Texas USA
-------------------------------------

AIM quoted Empyrean Energy PLC today announces that at 6am Texas time on 21
November 2006, the Sugarloaf-1 exploration well located in the onshore Gulf
Coast Basin was drilling ahead in 6-1/2 inch hole at 20,105 feet (6130 metres).

Since the last report released on 17 November 2006, the well has continued to
drill in the primary target of the Sugarloaf-1 well.

Drilling is continuing towards proposed total depth of 21,000 feet (6,400
metres), expected to be reached in late November assuming trouble-free drilling.

Nearly there.

Everyone seems to be panicing about the fact that eme's news releases are rather predictable, however let them get to the bottom, run the line logs and quantify the three finds that they have already had on the way down. Due to how few shares there are in eme its going to fly one way or the other. I believe its going to go up. Someone once said the stock market was a means for the patient to take money from the impatient. This appears to be very true here. Top estimate 300p. low estimate 50p if non commercial. CEO's target to make this a 100 million company within 3 years that would equate to 4.25 per share. Long termers are on to a good thing.

oily .... don't forget that there is a lot of money to be made on selling short too! ..... i am no expert, but i am under the impression that even if "good shows" are found, it still takes several months to evaluate exactly what has been found - i.e. it would be a racing certainty thaty EME's sp would get far too ahead of itself

No whiffs today then? ;-)) Hmmm.

cynic - I'd say 2-4 weeks probably to log and test once drilling finishes.

Non-commercial and price will be <25p IMO. They've not a lot else successful this year.