Empyrean Energy

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

I am sure you are right, Big Al, but many companies are revisiting old wells to extract previously uneconomical or unrecoverable oil (the North sea for example).
Plus, surely if what you are saying is so obvious, why doesn't the EME management realise this as well?
I am out of this one thank goodness, but as you know took a bigish loss a couple of months back (plus it means the tax man gets less of my money) but someday the technology is bound to figure a way of extracting every last drop......or not?

it won't be EME doing it in any case!

HARRY - you are right. I'm one of those in the North Sea trying to extract the previously unrecoverable stuff. Personally, I believe Texas is different, in that it is absolutely peppered with holes. Add to that EME's inability to get anything producing and you have to question the company's capability.

ttt

Is there anybody out there? Not the greatest week yet again for EME. All time low soon by the look of it.

;-))))))))))))))

It is not surprising that EME is at an all time low, but I would bet this will go even lower in view of poor management and false promises and failure to obtain any black gold from the ground. Sounds like Blair government, isn't it?

yes my friend but Eme will shortly be in posative territory soon as details are revealed from Glantal and sugarloaf-1 will prosper. With the addition of Eagle and Margarita starting to develop quite well. the 1.30p will be by passed sooner than you can imagine, and upwards with the SL-1. all the best.

We shall see, shadow. I think it will be a dream if that happens.

All time low pretty much.

Anyone still stupid enough to be holding this crap? ;-))

Shadow is holding on TIGHT to EME. LOL!

;-)))

Comments pls



Empyrean Energy PLC
10 May 2007



Empyrean Energy PLC

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

Increased interest in the Sugarloaf Project Area, ('Sugarloaf') Texas USA
-------------------------------------------------------------------------

New Agreement signed with Texas Crude Energy Inc ('TCEI') covering a
sixteen (16) well program over Block A and Block B
New working interest on any well in the 16 well program in respect
of Block A
Working Interest increased from 6% to 18% on any wells in the 16
well program operated by TCEI in respect of Block B

Empyrean has entered an Oil & Gas Exploration And Development
Agreement with TCEI to participate in a new sixteen (16) well
program covering two projects, 'Block A' and 'Block B'.

In Block A, TCEI has an interest through an Operating Agreement with
a major international oil and gas company ('Block A Operator')(name
undisclosed for confidentiality purposes and to preserve and protect
competitive advantage). In Block B, TCEI is the operator and
Empyrean already has a 6% working interest in this Block via a
previous agreement and its participation in the drilling of the
Sugarloaf-1 well.

The new agreement covers the next sixteen (16) wells to be drilled
on either Block A and / or Block B. The agreement provides for
Empyrean to pay 12.5% of costs to first production to earn a working
interest of 7.5% in wells drilled on Block A and to pay 20% of costs
to first production to earn a working interest of 12% in wells
drilled on Block B. Empyrean's agreement covering a pre-existing 6%
working interest in Block B remains unchanged and is in addition to
this new agreement.

The Block A Operator has drilled a first exploratory test well on
Block A and this well is a discovery well which it has been reported
flowed gas and associated condensate on test. This exploratory test
well does not form part of the 16 well program. On Block B, during
the drilling of the Sugarloaf-1 well Empyrean previously reported to
the market on the 29th September 2006 a 92 feet (28 metres) zone of
possible gas pay, interpreted from wire-line logs and gas shows in
Cretaceous age carbonates. Preparations are underway for testing to
be carried out on these possible pay zones.

It is estimated that wells in this program will have a total cost in the
order of US$5million each. Empyrean's agreement with TCEI is structured
on a well by well basis with the right to proceed or withdraw at any
stage. If Empyrean withdraws then wells earned to that date are
protected. It is also understood that the Block A Operator is preparing
for drilling to commence on the next well in Block A within the next 2
months.

A further update will be provided as soon as confirmation of the date for
spudding the first well in this sixteen well program is advised by TCEI,
along with testing dates for the Sugarloaf-1 well.

Commenting today, Empyrean's Commercial Director, Tom Kelly said 'Today's
agreement with Texas Crude Energy allows Empyrean to increase its interest in
the Sugarloaf Project Area and in particular the shallow potential pay zones to
be tested in the Sugarloaf-1 well. We look forward to testing these chalk zones
in the Sugarloaf-1 well and to the commencement of the sixteen well program'.

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.

like i said going stratospheric soon....i'm sitting on a fortune already with EEL..wait until that baby relists and i'll be piling in here too

in the words of Catherine Tait ..... am i bovvered

Right, thanks for that maestro ............................. not! ;-0 As much use as a chocolate fireguard as usual.

Also, you're not sitting on sweet FA until you cash it in.

Come to think of it, maybe "as much use as a chocolate EME" would be more appropriate.

cynic...yes you are bothered..in fact you are very irritated that i have got another winner and made you look rather stupid yet again.

Big AL...your mates shorting EEL?...like Langbar?...ooops they're in the shite bigtime

Mates? Not sure I have any. ;-)))

Still got your BFC? LOL

Empyrean Energy spuds Agavero 1 well on Margarita project
AFX

LONDON (Thomson Financial) - Empyrean Energy PLC said it spudded the Agavero 1 well as part of a shallow drilling program on its Margarita project in the US, adding it sees deep well drilling starting late in the September quarter.

The AIM-listed company said the final wells programme, including completions and production tie-ins, is currently expected to run until the end of August.


I have a couple of questions:

1. I guess "late in the September quarter" means Xmas at the earliest.
2. Completions and production tie-ins? Show me the money first my friends.

Meanwhile, we seem to have tested previous support at 31p from underneath and reversed right there. Oh dear, maestro. ;-)))

maestro ..... Big Al said it all ..... the amazing thing (well, not really) is that you never say exactly when you buy these "whizzers" of yours, thus supporting your boasts.

I like that word

"whizzers" ;-))