EME - Empyrean Energy

[Spennyboy]

would it be poss for more than 1 person to share a login? i was thinking that maybe 4 of us could do it and split it equally if all parties were interested seems a good idea and could save you a bit of cash mate...

Well not really mate as its linked to iii.co.uk account which is also has a share dealing account on it so not wise to give that info out!

Its £20 a month with no contract, just get a months worth (take the 20 quid from your sxx profits ) and see if you can get on with it.

I personally wont ever trade again without it.

It saved my arse on ITV the other day, when i see massive sell orders being filled to 50p when i was looking at 58p

[Spennyboy]

Back on topic - what do you think about the next RNS here?

The lack of news fills me with concern, has something gone wrong.... again ?

[tam9]

i like your thinking about l2...just wanna start sittin back and see my holdings mature..i'm went in baw deep with my money on this game lol..

EME is scaring me. i think ishould take my money and run but something is telling me to stay. lol...oh well..RNS has to come out soon be it pos or neg..here's hoping good news to push the barriers up so we can get out lol

[Spennyboy]

i like your thinking about l2...just wanna start sittin back and see my holdings mature..i'm went in baw deep with my money on this game lol..

EME is scaring me. i think ishould take my money and run but something is telling me to stay. lol...oh well..RNS has to come out soon be it pos or neg..here's hoping good news to push the barriers up so we can get out lol

Yeah im getting 'cold feet' with it.

I was hoping a rush to 25pish and then just leave with quick profit.

Another 100k just gone through as a buy.

Thats 400k this morning which explains the slight rise - do they know something we dont?

News leak?

I can see 18.50 on the ask any moment if another large buy is filled.

[Spennyboy]

Hope you didnt sell Tam.

RNS Number : 3656Z Empyrean Energy PLC 21 September 2009
21 September 2009
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Project, ("Sugarloaf"), Block B, Texas USA
SUCCESSFUL FARM-OUT OF BLOCK B TO MAJOR US OIL AND GAS COMPANY
FREE CARRIED WORK PROGRAM TO COMMENCE SHORTLY
Empyrean Energy Plc is pleased to advise that Texas Crude Energy Inc ("TCEI") has been successful in its efforts to farm out Block B in the Sugarloaf Project, part of the Sugarkane gas and condensate field, in Texas, USA. TCEI have signed a farm out agreement with Hilcorp Energy Company ("Hilcorp"), estimated to be the 4th largest private E&P company in the USA, and field activities are expected to commence promptly. A brief description of Hilcorp is included at the end of this announcement.
The key elements of this farmout for Empyrean are as follows:-
THE FARM-IN BY AN ESTABLISHED AND MATERIAL COMPANY SUCH AS HILCORP TO THE SUGARKANE FIELD IS A SIGNIFICANT ENDORSEMENT OF THE MULTI-TCFE POTENTIAL OF THIS GAS AND CONDENSATE ASSET. HILCORP HAS CONSIDERABLE OPERATING EXPERIENCE IN ONSHORE USA.
EMPYREAN WILL BE FREE-CARRIED FOR THE DRILLING, COMPLETION AND TIE IN OF UP TO 3 NEW HORIZONTAL WELLS AND THE STIMULATION OF THE THREE EXISTING SUGARLOAF HORIZONTAL WELLS; KENNEDY-1H, KOWALIK-1H AND WESTON-1H. THIS WILL ESTABLISH A TOTAL OF 6 WELLS ON PRODUCTION ACROSS BLOCK B. UNDER THE TERMS OF THE FARM-OUT THIS WORK PROGRAM HAS A SERIES OF DEADLINES OVER THE NEXT 20 MONTHS. NO INTEREST WILL BE EARNED UNLESS THE AGREED WORK PROGRAMS ARE COMPLETED.
HILCORP WILL EARN AN INTEREST IN BLOCK B INCREMENTALLY AS EACH FARM-IN ACTIVITY IS COMPLETED UP TO A MAXIMUM OF 50% OF EMPYREAN'S INTEREST IN BLOCK B.
Empyrean's pre-farm-out working interest across Block B is 6%.
Commenting today Empyrean Executive Director -Tom Kelly said "This farm-out is an excellent outcome for Empyrean and its partners in the Sugarloaf Project. Importantly, it achieves the stated goals of generating significant momentum for the project and allowing the acreage position to be actively managed. It gives Empyrean and its partners the best chance of unlocking significant value from the Austin Chalk and Eagleford Shale plays within the field. In addition, it allows Empyrean to focus on its other high impact projects immediately".
Hilcorp Energy Company
Hilcorp was founded 20 years ago and is now the 4th largest private E&P company in the USA* with operations based primarily in the Gulf coast region and Powder River Wyoming. The company is headquartered in Houston, Texas and has a demonstrated record of commercialising their investments. The company has an annual production of 15.8 mmboe* of oil and a staff of over 600 professionals and is an experienced operator in the USA.
(* Source Oil and Gas Financial Journal)
For further information Empyrean Energy plc

Pushing towards 25p but loosing momentum quick

[tam9]

I didn't sell mate, profit sittin at 280 at present ... not bad for a months work

The way I look at it is, I have more cash now to invest into a bigger company for a wee bit extra again and I'll just keep doing that...I guess thats how a lot of people started getting their money. I hold in 9 companies at present so am baw deep so to speak lol.