Empyrean Energy

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

the oil barrell mentioned details that increased efforts are been made to aid the Sugarloaf-1 and margarita sites in Texas , and news will arrive from Australia on the huge reserves have to offer, upbeat to over 115p.

Probably have to react quickly after reading the next RNS whenever that may be.

often better to bank at least some profits beforehand .... but entirely a personal call

Oh...this will move downwards again tomorrow below 48p. Just MMs causing some excitement.

The only reason that the price dropped off towards the end of day, was that the MM's opened the spread to curb buying. Funny to watch but it didn't work. If momentum stays with punters buying then the price should continue to rise. If the sole reason for the rise is someone having a little fun, then they should be locked up for insider dealing, conning the public and blatantly lying just to make money. Very unethical.

cynic...whats your view on IGG?...surely you are not negative on that stock

strange as it may seem, i have never held them .... as a company i like their style and ethos, but that is not the same as wanting to invest there

must be a big threat though to normal brokers...i've stopped using them due to rip off dealing costs and broker boys who never get the best price...IGG must surely be a very tempting bid target before long

will disagree with you, but then perhaps i use them better - i.e. i often phone to deal rather than taking indicated screen price .... that does not at all mean they are "ripping you off" but rather that one can get "that instant" prices rather than just live ..... it also means that i can part fill orders and all sorts of other things, like advice and views etc ...... but i am sure IG will miss your custom

Interesting bounce. Can't see a reason

Well hiyeo98, up 3.5p in 10 mins with all blues. So much for mm's mucking us about..............up 6p in 30 mins 400,000 blue 1996 red. Going down, not today.

will be 1.00 within the next week.

Why will it?

This was the last drilling news:
"Current well depth at 07.00 hours Australian WST, Tuesday 9 January 2007 El
Viejito #1 is 1,129 metres.

Basal Frio and Vicksburgh targets are below 1,524 metres. It is expected that
once final depth of 1,920 metres is reached the hole will be logged."

Anyone any idea how long it would take (approx) to drill the remaining 396 metres?
Is the imminent completion of this the reason for the upturn in the sp?

This is the news hot out from the press.


Empyrean Energy PLC
26 January 2007



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

Placing of Shares

Money for exploration and development of Glantal gas project (Germany),
Eagle Oil project (California), Sugarloaf Hosston gas project (Texas), and
the Margarita gas project (Texas)
Potential further acquisitions- focus on near term producing assets

AIM-quoted Empyrean Energy PLC today announces its broker, HB Corporate has
completed a placing of 14,285,715 new ordinary shares of 0.2p at a price of 35
pence per share raising 5,000,000 before expenses of new capital on behalf of
the Company.

The proceeds of the Placing will provide the Company with the funds to continue
the exploration of the Glantal gas project in Germany, testing of oil shows at
the Californian Eagle Oil Project, testing of gas shows at sugarloaf, Texas, and
the companies ongoing drilling programme at the Margarita, Texas. During Q1 of
2007 Empyrean expects to commence testing at Sugarloaf in Q1, obtain initial
well results from Margarita and finalize seismic plans at Glantal. Empyrean is
also currently assessing a number of acquisitions with a focus on drill ready
projects which can be quickly brought into production should they be successful.

The new ordinary shares have been placed with a number of UK and European
institutions and other investors.

Application has been made for the new shares to be admitted to AIM and dealings
are expected to commence on 1st February 2007.

Following this issue of equity the Company has 49,596,767 shares in issue.

Commenting today Tom Kelly, Executive Director, of Empyrean said: 'Today's 5m
fundraising allows Empyrean to drive forward our assets in Europe and the US. In
just two years Empyrean has built up a balanced portfolio of oil and gas assets
that has an appropriate balance of risk versus reward. We look forward to
building on the progress made during 2006 that included positive oil and gas
shows at two of the Company's projects, both of which will shortly undergo
testing. Funds will also be used to grow the companies asset base through the
acquisition of new projects which can be brought into production quickly and
realise near-term shareholder value.'

Glantal and Eagle Pool had both been failures last year, EME is going to put good money into bad projects. And with further more shares in the market, AVOID!

Hi Tcdmct

Not sure about the 1.00 price now. Price down to Bid 43p at the moment on the back of the share issue. Had hoped your prediction would come true having bought at 77. Never mind, will hang in there.

i acknowledge that i have no love for this share/company, but the chart below really gives no comfort to any holder.

i have only shown 9 and 25 dma as 50 and 200 make even more depressing viewing.



red = 9 dma
green = 25 dma

Yesterday I said EME will close below 48p. From +6p in the morning to -4.5p at close to 43.5p. This will drift lower to 30p as these goons are throwing good money into bad projects which was proven last year.

It wasn't rocket science I guess. All the projects failed to finalise and generate cash. In order to get cash out they needed more to put in.

Ity brings a wee smile to the face!

;-)