Empyrean Energy

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

Big Al - "As for EME, it's surprising the news of testing didn't liven up the price much. It would have a few months back. "

Yes, seasoned posters know all this, but of course the E & P sector is being bashed for failing to come up to expectations, just look at past fund raising compared to results.

I can think of one clear example off the cuff, Hardman placing @ 98p, company bought for 78p 3 months later.

Not too bright of the institutions was it?

There are many others and if some want it I will research tomorrow.

EME is a victim of this imo.

It is a time to reduce or even sell out imo.

Time will pass and sentiment will change, but I think as with last time it will be years before it does.

So I would say, pick your oilies carefully for a LTBH.

I have!

At some time these outfits must produce a return, sww, otherwise they just dilute by raising funds to drill dry (ish) holes.

As you say, the market, and AIM in particular, is now littered with the dead and dying. You are right - EME is likely to be one of these. Any that haven't made the grade in actual discoveries by now with the sector "froth" gone has probably missed the boat.

Bummer, but s**t happens. ;-0

massive sugarloaf news coming next week imho

maestro ... racing certainty you have said similar on this thread before with very predictable outcome ...... what is the basis for your bullish prognostication?

trust me cynic...2 weeks is nearly up

of course i trust you ... lol! ...... but fortunately (i think) i do not hold these ..... have sufficient other flakey (some don't like my adjective of spivvy!) E&P stocks

EME says it takes 2 months.

maestro...your information is wrong. see below...



Empyrean Energy PLC
14 February 2007



Empyrean Energy PLC

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


Sugarloaf Hosston Prospect, Texas USA

Testing of gas shows commences


AIM quoted Empyrean Energy PLC today announces that the Sugarloaf 1 well
testing program has now commenced.

As previously advised, the testing program will involve high density perforation
of the production casing over selected intervals in the lower part of the well.
Subject to results the program could be amended, including extended flow testing
of zones, but is expected to take up to two months to be completed.


Further releases in relation to the Sugarloaf-1 testing program will be made
upon any material developments and results from these tests.


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.

It's actually a fairly cleverly worded RNS that one. If you know the business and what the operation entails you could read all sorts into it.

For me the main thing is that the "reservoir" is deep and will probably be very tihght in that part of Texas, hence "high density perforation". We'll see how it goes and if it needs further stimulation. ;-0

Might drop a little this morning with this news from Oz.... (I do not hold)


ADI -25%
EKA -13.51%


Sugarloaf-1 Well Testing Program - Lower Hosston Interval Perforated
The first part of the testing program over the lower Hosston interval has been completed by perforating several zones. As per the program design, these zones were not fracture stimulated and no flow of gas was recorded.
As envisaged in the original testing program, the next stage will involve the perforation and fracture stimulation of selected intervals of the upper Hosston sands which are interpreted to have better potential reservoir development as compared to the lower Hosston intervals. The fraccing program is currently scheduled to commence in early March.
Further ASX releases in relation to the Sugarloaf-1 testing program will be made upon any material developments and results from these tests.
Participants in the Sugarloaf-1 well are:
Eureka Energy Ltd 1
12.5%
Texas Crude Energy Inc (Operator) et al 2
41.5%
Aurora Oil & Gas Limited
20.0%
Adelphi Energy Ltd
20.0%
Empyrean Energy plc
6.0%
1 Through its wholly-owned US subsidiary, Hosston Oil & Gas LP
2 Includes other private US companies / investors

It's shaping pretty much as expected then. ;-0

They're still not dead in the water here, but I'm wondering why they didn't frac the lower interval. Then again we are not party to the detailed testing programme. The question is "why perforate then?" Definitely negative news, but then they only had 6% anyway? I gues you read it whichever way you want really.


The saga continues ............. ;-)))

Through short term support, but found something a touch lower.

".....Wireline log operations, including sidewall cores were conducted over a period of 20 hours. Initial interpretation indicates there is potential oil pay of 4.3 meters (14 feet) within the target sands..."

click here

strange that there is no reaction to sp pre-opening .... would have expected say +10

Is that the same well, sww? Milagro #1 vs El whatever? I'm confused.

AL .... pretty muted reaction to what i would have thought was quite a significant rns .... any thoughts? .... not that i hold!

Cynic, this is not significant at all considering it is just 14 feet and questionable of oil mixed with water.

thank you for that elucidation!

cycnic - sorry, went to bed earlier so didn't see your reply.

I thought the quote sww had was Sugarloaf until I looked at the link. I'm still not sure what info relates to which well there. Either way, as hlyeo98 says, 14ft ain't much. Having said that, I've drilled along reservoirs as thin as 7ft and it still paid for itself - and that was offshore North Sea, not in cheap Texas!! Never say never. Have said that, Texas has more holes in it than Swiss cheese. There isn't anything but small stuff left - that is certain, which is why tihnking EME could possibly make it big is pretty daft.

We'll see what these things flow at. It' just odds on to be small really.

Just checking my calculations, median estimates for the total Maragarita shallow propects is 9 Bcf.

So therefore after 6 wells, all being commercial success, then EME could get net to them 3.46 Bcf as they hold 44%.

EME are as yet no in the deep programme, just the shallows.

Does not seem a lot, and cannot see it being exciting, unless flow rates are very high and give payback in a short period of time. Am I right in the 3.96 Bcf net to EME ?

To quote :

""AIM listed Empyrean Energy PLC (Empyrean) has farmed into the drilling of six of the inventory of shallow oil and gas prospects at 2,000 metres depth) on completion of the six shallow well program. The drilling of the six shallow wells will be broken into two phases, the Initial Wells program and the Final Wells program.

A commercial success in the Initial Wells program will trigger the Final Wells program and Empyreans immediate commitment to this phase of the program.

The shallow prospects in the Initial Wells program with mean target outcomes and final well depths are as follows;

El Viejito Prospect 1.6 BCF 1,920 metres - completed, outcome subject to testing
Milagro Prospect 2.0 BCF 1,585 metres - commenced after El Viejito #1
Dos Dedos Prospect 1.2 BCF 975 metres - to commence on / or about 20 February 2007

The Final Wells program prospects will be finalised from the shallow prospect inventory when the outcome of the Initial Wells program is known. These prospects have target size outcomes similar to the Initial Wells program.

The Initial Wells program is expected to run until late February 2007. The Final Wells program is planned to commence in late March 2007 and be of a similar duration to the Initial Wells program. Development of any commercial discovery will be a matter of no more than a month as the project area is crossed by a number of gas pipelines with access rights and capacity available to tie into. "