Empyrean Energy

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

"Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, is pleased to advise that it has entered into arrangements with Texas Crude Energy Inc ('TCEI') to seek a farmout of up to half of Empyrean's 6% interest in Block B of the Sugarloaf Project which is part of the Sugarkane Gas and Condensate Field. TCEI is the operator of Block B and will lead the farmout effort with the assistance of Jefferies, Randall & Dewey, a leading US oil and gas advisor.

Empyrean will join some of the other joint venture partners in the Sugarloaf Project on Block B to contribute equity to this joint farmout effort which will result in sufficient equity being available to attract a significant E&P company or investor. It is envisaged that the incoming party will earn equity by carrying the farmout parties including Empyrean through a drilling and well stimulation work program in a timely fashion. Details of the terms of any farmout agreement reached will be advised at the time they are concluded.

Pending finalisation of the farmout arrangements, it is expected that field operations within Block B will be limited.

The arrangements that Empyrean has entered into do not include and do not affect Empyrean's interest in the 5 wells it has participated in on Block A. Work will continue on Block A irrespective of the farmout arrangements on Block B and the revenue percentages from those wells already on production on Block A will not be affected by the farmout arrangements on Block B."

I.E. - we've no dosh. ;-0

MoneyAM
"Oil and gas explorer and producer Empyrean Energy is pleased with early production from Block A on the Sugarloaf prospect in Texas.

Combined total production from the block in March was 15,621 barrels of oil and 113,693,000 cubic feet of gas.

Empyrean executive director, Tom Kelly said: "We are pleased with the early production, in particular from the horizontal wells A-1, A-3 and A-4.

"With the A-2 vertical well to come on to production and further work likely on A-5 vertical well, we expect that production will increase.

"We are also finally able to confirm that Conoco Phillips is the operator of the Block A wells and having a company of their calibe operating really speaks for itself."

tells you bugger all, and market is rightly underwhelmed

"With the A-2 vertical well to come on to production and further work likely on A-5 vertical well, we expect that production will increase."

No s**t! ;-))))

Not sure having a big company involved is any sign of success whatsoever. In some ways it can be detrimental and I've seen the biggest ones screw up horribly. EME always feel the need to make it as glossy as they can, don't they? In mitigation, the fact they have production is good, but they are clearly (from previous RNS) struggling for cash like any other small outfit.


Things are a wee bit better, but I still wouldn't invest.

big Al...how much are hoodless paying you to post on message boards? lol!

You should've been on EO. maestro. ;-))))))))

EME is running desperate with such an update saying with Conoco Philips really 'speak for itself'. What a dumb statement!

Using someone's ass to be their face.

I am happy to invest here at these levels, once there is some more confidence
in eme these will fly.

I'm certainly not prepared to put my money on them. Many better oil outfits than this one IMO

so will pigs, with or without infection!

is this baby about to blow? mms have been playing with the trades trying to get suckers to sell...also i think alot of t-10's got caught out by big rise and are being screwed by the vermin...far safer spread betting...just chill

blimey no posts by cynic or big al for 2 weeks..probably be back when it starts moving north again

my prediction...EME will be a 20 bagger if you bought at 4p...watch it fly soon

don't know where Al is, but I have been in Bombay and Dubai on biz all this time ...... flying home midday

chart shows nothing to get excited about, the small tick up attributable to the slowly improving crude price ...... as so often said, this company is at the bottom of the barrel, below even RKH and FOGL

cynic..how many shares have you got in EME?

Don't worry, I'm here. If it's worth buying, I'd buy it, maestro. At present, I don't believe it is.

I'll stick with others, particularly EO., thanks. ;-))

none - i'm not that much of a mug

sold out now..got into jarvis..heard a bid roumour from a respected source

All change in 2 days, eh? ;-)))