What gives?

23rd Feb '09 by Stocktaculous

5 comments 3589 reads

This seems to be a core holding amongst Stockopedes - what gives?

Oil and gas explorer and producer with assets in Germany and the USA
Upbeat interims in December, particularly in the light of continuing success at its Sugarloaf prospect in Texas. In a statement, the company said every well drilled at Sugarloaf to date has encountered hydrocarbons and is either in production or expected to be put into production
Just announced that the Weston-1H well on the Sugarloaf project, part of the Sugarkane Gas and Condensate Field in the US, has now been secured for future stimulation, which will trigger production.
But with the oil price in the doldrums, what makes this oiler so special. What else do I need to know?

http://www.stockopedia.com/news/announcement/EME/090218eme4916n.htm

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About the Author

Stocktaculous

Premium Member

5 comments

CityTrader

26th Feb '09

For me this is one I have follwed for a few years now. I bought at 44p then watched it reach 160p sold some then and some at 114p. Have been out until recently but I believe 30p could be easily achieved here.

MrT

26th Feb '09

Interesting Q&A covering this from Investor's Chronicle (from back in June 08). Clearly, oil is in a different place right now but the company's prospects don't seem to have changed.

http://www.empyreanenergy.com/news/2008/180608_investorchronicle.pdf

The share price has been very volatile, and despite the recent gains, it's still well off previous highs. How confident are you that we are ending 'famine' and entering 'feast'?

Empyrean is now part of a major discovery in onshore USA and the early results from this project should give everyone confidence. This is the second project that Empyrean has brought into production in just under three years since floating on Aim. Some projects take more than 10 years from conception before a first well is drilled. Empyrean has a tight committed team dedicated to continuing the momentum that exploration success brings. At Sugarloaf Block B alone there is the possibility of at least another 34 wells to be drilled to develop the acreage. If these wells are brought successfully into production with anything like the initial flow rates from the first Block A-1 and A-3 wells then it will likely be a worthy "feast". If we have additional exploration success from our other projects then it has the possibility of being described more as a "smorgasbord". Empyrean is in the strongest position it has ever been in during its short history.

Murakami

28th Feb '09

30p, CityTrader? How come so high - that's 4-5x the current price. Are you expecting an oil price bounce-back or is it something company specific?

cn100

19th Jun '09

I have bought in quite heavily over the past few weeks with this share. Another investor Simon Cawkwell (EK) has also just bought in I believe over the past week or so at 6.5p with a target of over 20p. However I still believe a good result in the Riverbend project could see an excellent rally in the share price.

Opinion: BUY

Price Target: 30-40p

Betasurfer

8th Jan '10

Kowalik-1H fracture stimulation update and new well preparations: http://www.stockopedia.com/news/announcement/EME/100107eme001247.htm

It is presently estimated that the Kowalik-1H well will be flowed to production in 1-2 weeks.

Well site preparations have now commenced for the first farmin well at Sugarloaf,
the Easley-1H well, which will be located approximately 2km to the north east of the
Weston-1H well. As previously reported, this well is expected to be spudded during
the month of January 2010.

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What gives?

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Stocktaculous

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