Empyrean Energy

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

Fair enough that EME is not performing well at the moment & that many are disillusioned with the management and the misleading/evasive news releases, but it is not all doom & gloom, imo.
I believe that EME are drilling 9 different targets in 2007 and that the Texas & Gulf coast projects still have potential to produce good results. All are being drilled at a fixed price, so no risk of spiralling costs. I am not sure why they persist in pouring money in to the Glantal project, but the other U.S. sites still have a reasonable up side to them. Victoria Petroleum, Sun resources & Wandoo Energy, the parteners of EME, seem to think the same. I do not think that EME is any higher risk than GOO, RKH, DES or even possibly VOG. Many exploration companies operate at a loss, so valuation or the balance sheet are not particularly relevant, though I concede we could have done without the issuing of more shares, thus diluting the value of the current ones.
As for holders of EME stock being losers, a loss is only realised when the stock is sold & with no disrespect intended, the investors room is full of people who have got their fingers burnt, SEO, ELP, SBT, PRTY to name but a few stocks, but until EME shares become valueless, no one is a loser. It's interesting to note how many of you sceptics discreetly keep your eye on EME just in case you are proved wrong!

Harry ... sorry m8, but that is deluding yourself, just as much as claiming a profit befiore it is banked ...... my views on SEO, ELP, PRTY are already well voiced and i have no reason to change them .....

GOO
is (imo) very flaky, though I am a holder ..... only crumb of comfort is that Mr P continues to hold 10%, but even that is soemthing of a rationalisation.

VOG
the jury remains out until the next report ..... if they disappoint, then watch sp plummet .... am still a holder

EME
has been consistent ...... lots of promise followed by total dross

So, if one of the 2007 target wells does produce the goods, you will not be taking advantage of any rise in the sp on principle?

principle has little bearing on share trading, though i confess there are some, like Mr Timmis and RPT that i would not touch with yours let alone mine, but that is from total lack of trust ..... as it happens, RPT has quadrupled from its 2006 low.

Hmmm.... Not sure that you answered the question! :o)

i guess i answered part .... principle would not influence my decision whether or not to buy into EME ...... i used to hold them and prob lost money, but that per se would not influence me.

if you will permit me to shift my/your attention to VOG .....

i bought back in at 61 and would possibly buy more if they dipped to 40, merely as speculation that i think there is a good chance that they will indeed produce something commercial at Well 103 ..... initial drilling report seemed to indicate as much.

if that proves to be the case, then i may well buy more (from greed) as they spiral up, but would hope to have enough sense to take (some) profits (as i have with SOLA, RTN and DOM) before the level got too silly and everyone jumped off.

With regard to EME, nothing I have seen remotely convinces me that they really do have something worthwhile on their books - e.g. i think Glantal is a disaster

In other words, 'Yes'. The lure of profit would change your perception of EME.

As recently quoted
"The last six months or so have seen Empyrean really pick up the pace, especially for a firm that had not drilled before a year ago. If Cross is right, and that more is to come, this could be a very busy year indeed for the London-based outfit. All eyes no doubt will be on the drilling results from Project Margarita as they roll in through 2007."

the lure of simple greed might be more accurate! ..... however, my money is certainly not going to EME until their case is proven .... that said, i regularly post against investors who have far too much of their portfolios tied up in totally speculative and spivvy stocks (could be blunter!) like EME, VOG, GOO, ELP, EEL, SEY and so on and so on almost ad infinitum

cynic - those folk come and go and always have unfortunately. They jump in with the kitchen sink and arrogance. The market teaches everyone humility. Far too many get wiped before they've been given a chance to learn that lesson.

http://imagesignal.comsec.com.au/asxdata/20070202/pdf/00690254.pdf

"...The presence of gas is indicated in the upper target Frio sands over a 1.2 metres net pay interval and the lower target Vicksburgh sands is also of possible interest over a 11 metres net pay interval. Both need to be confirmed by testing. Production casing is currently being run to total depth with completion and testing of both targets planned to be carried out in the next 14 days time with a work over rig. After running production casing on El Viejito #1 the drilling rig will move to the next well location on the Dos Dedos Prospect to commence operations late weekend on Dos Dedos #1..."

Interesting since I thought they were they were targeting pizzas!

LOL.

With the past history of "testing" I think most will wait and see if these "prospects" are in fact commercial, or more like Glantal and Eagle, as in failures......

1.2m is hardly the largest pay zone in the world. Well, you never know. ;-0

Vicksburgh only "possible" interest over 11m. If you're a cynic, you'd probably interpret that as being dry!! LOL!

A general thought on drilling in Texas. Any pay zones remaining after many decades of drilling and production in one of the oldest provinces in the world are going to be small. That's more true of the shallow than the deep prospects. Remember that.

I think they mean that they have found the sauce kitchen and enough gas to cook the pizzas.

lol

I realy thought this was a thread for investers in this stock to air there view,i now know that is for people whom have lost on this stock to air there pathetic view and try and bring the stock down so that the real people whom hold stock will turn into lossers like they are.

This is not for all posts,but for those who know who you are.(lossers)

Shut up.

Threads are for discussing the pros and cons of a particular stock.

EDIT - get yourself a dictionary, losser! LOL

We all know how ignorant tcdmct is - losser, investers, there view, realy.

;-)

On 2nd thoughts, cross the "l" on losser. ;-0

TCDMCT .... will be delighted for you if you find yourself laughing all the way to the bank with this stock ..... unfortunately, i fear you may only be going there to remortgage