Empyrean Energy

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

This continues to drift slowly down. Not looking good.

another "yummy yummy" stock to hold hands with AMER, GOO, FOGL and a number of others of the same pedigree

So did AFR?
cyril

You can read this like a book. ;-)

More funds required.

bought back in at 3.75p...no brainer at this price...trading my van up soon at this rate

Awesome! Probably get a van at rock bottom price as the dealers are gagging to be rid of stock. A win, win situation if ever I saw one!

19 March 2009

Empyrean Energy PLC

Placing to raise 300,000

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces it has conditionally raised 300,000 before expenses, through an institutional placing via its broker Blue Oar Securities Plc ('Blue Oar') of 10,000,000 new ordinary shares of nominal value of 0.2p each in the Company ('Ordinary Shares') (together the 'Placing Shares') at a price of 3p per Placing Share (the 'Placing').

Proceeds from the raising will contribute towards further development at the Sugarloaf project in Texas, USA and for general working capital.

The Placing has been performed under existing share allotment authorities, and the Placing Shares equate to 13.63% of the enlarged issued share capital of the Company following completion of the Placing.

Following admission to trading on AIM of the Placing Shares, which will rank pari passu in all respects with the existing Ordinary Shares in issue, Empyreans' total issued and voting share capital will comprise 73,325,792 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will take place on 2 April 2009. Completion of the Placing is conditional, amongst other things, on such admission becoming effective.

Increased placing.........institutional demand!!!

"Further to the announcement on 19 March 2009 and in response to additional institutional demand, Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces an additional issue of equity.

The Company has conditionally raised a further GBP350,000 before expenses,.........................at a price of 3p per Placing Share "

if they have to go to a placing (rights issue) to raise a paltry 350 before expenses, then they sure are in dire straits

Indeed. ;-)

added more...gonna blow very soon!

blow what little dosh you have left more likely

Looks like they are doing this in stages (maybe to lessen the impact):
"Further to the announcements on 19 March and 21 March 2009 and in response to additional demand from directors of the Company and other long-term shareholders, Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, announces an additional issue of equity.

The Company has conditionally raised a further GBP250,000 before expenses, through a placing of 8,333,335 new ordinary shares of nominal value of 0.2p each in the Company ('Ordinary Shares') (together the 'Additional Placing Shares') at a price of 3p per Placing Share (the 'Placing'). The Placing has been performed under existing share allotment authorities."

Struggling, as all mickey mouse oil outfits are in this credit crunch, HC.

As good as dead this one IMO.

Not sure whats what, but some are prepared to invest and you can bet your bottom dollar they have more info than us.
cyril

just goes to show that some fools and their money are even more easily parted than usual ..... both Al and i have been telling you all for ages that this company is not even as good as a load of manure ..... for goodness sake, stay away!

cynic, had you read my past post, you would have understood i sold out along time ago. I kept some from my trading profits before the market went soar.
My point is that those prepared to loan at this time are in posession of of a lot more info than the average punter.
Take a look at CHL, significant upgrade to be annouced.
cyril

you have a touch of maestro's conspiracy theory syndrome!
have no idea who CHL are

cynic.

CHL= Churchill Mining (coal).

This was my pick for 20% down on TMF for March.......well done EME :)

Anyone in EME looking to make some money back might want to consider AST and IPL going forward........... ;)