Empyrean Energy

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

PS - they've had gas, but was it as much as they'd hoped? We'll find out in due course.

It wouldn't be clever if project #3 came up short methinks.

Market certainly don't like it!

Of course experience tells me that running the logs means nothing.......

Woodside do a lot of that offshore Mauritania........ test dry holes.

do hope this thread is not becoming anal ..... lol!

Ha ha ha................I'd better change the wording, no sod it, I'll leave it!

EME's Sugarloaf-1 venture partner 'Adelph' AGM report states the drilled well has 50.5m aggregate gas shows:

http://www.adelphienergy.com.au/files/presentations/ASX%20Release%2028%20November%202006%20-%20Adelphi%202006%20AGM%20Presentation.pdf

Currently running wire logs to determine production test decision!

"drilled well has 50.5m aggregate gas shows" ...... how significant an amount is that? ..... not hugely is my guess, for otherwise sp would have shot up rather than fallen, but am happy to be contradicted

I don't think it means anything significant at all.

I say that depth of 50.5m (170ft) gas shows over many square miles is huge, wire logging should be completed by the weekend.

No matter how big the find if at all, don't lose sight of the fact that it is only 6.5% EME's.

The Master - trust me, it ain't huge!!

50.5m is decent (although not outstanding) in a single horizon, but it would seem this is split over several intervals, i.e. interbedded. It is impossible to map these on seismic and therefore testing is the only way of confirming the potential. Wireline logs should give an idea of porosity, etc.

Personally, I'd hate to be holding for now. If the logs are poor, EME is on the scrapheap IMO with 3 out of 3 disasters. If the logs are decent I still don't see massive upside, but it provides good trading.

;-)

There will be more downside for EME then

Dunno about that - wait until after logs and possible testing to be sure one way or the other.

It's probably safe to say EME is probably not the prospect it was a year ago at less than 40p, though, given how their prospects have failed to produce anything thus far?

oilyrag - 29 Nov 2006 20:31 - 580 of 583
No matter how big the find if at all, don't lose sight of the fact that it is only 6.5% EME's.

I would say its better having 6.5% of something rather than 6.5% of nothing.
Also as far as i know there are 4 companies with holdings in this,they would not still be spending good money looking if they didnt think there would be something worth it at the end.
My guess is there will be somthing good here,and they are keeping it lo key at the moment to get the cheapest share price,then we will see it fly.

Hi tcdmct I agree with you, and as I am holding I hope you are right, I was merely pointing out that they are the minnows in all of this and therefore wouldn't be earning the lions share.

6.5 % is rather good for eme as the potential of 800BCF may be available now td is reached its only a matter of short period of time before, the vast amount of reserves are announced so the placeing price of 1.30p will initially be surpassed soon.!

tcdmct - you don't half talk some rubbish.

Pretty much all wells, be they dry or gushers, have several partners. "Good money" is more often spent on dusters than wells with producable reservoirs. It's the nature of the game. And you always log wells whether you've seen anything during drilling or not. It's a condition of the drilling license the world over and always has been.

You should learn something of the industry you are investing in IMO!

Big Al

You can suck on my drilling point and see if i can produce a gusher.Some how i think you will fail.

Regards TCDMCT

;-)))))))

No its a little larger than that,Oh sorry what that your???????

;-))))))))