Empyrean Energy Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9643866 http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Chariot_Oil_Gas_Matra_Petroleum_Bahamas_Petroleum_Range_Resources/130c877dd8fc.aspx By Teadrinker ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9643866&action=detail Tue, 15 May 2012 15:23:00 GMT Teadrinker tag:iii.co.uk,2003:tst.9642753 http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9642753&action=detail Tue, 15 May 2012 12:17:00 GMT PC Fox tag:iii.co.uk,2003:tst.9641445 They are keeping us updated quite well I think and hopefully we will hold onto some of the rise today in anticipation of another positive update within 6 weeks.

15 May 2012


Empyrean Energy PLC
("Empyrean", "EME" or the "Company"; Ticker (EME))

EMPYREAN NOTES THE RECENT ANNOUCEMENT BY AURORA OIL AND GAS LIMITED (ASX CODE : AUT, "AURORA") OF AN AGREEMENT TO MAKE AN ACQUISITION OF A NON-OPERATED 6% WORKING INTEREST IN THE SUGARLOAF PROJECT FOR US$95 MILLION.


Aurora today announced that they have reached agreement to purchase a 6% non-operated working interest in the Sugarloaf Project for US$95m. Aurora is a partner with Empyrean in the Sugarloaf Project in Texas, USA. Empyrean holds a 3% working interest in the same project.

Commenting today, Empyrean CEO Tom Kelly said "This acquisition by Aurora and the recent offer by Aurora for Eureka, which has been rejected by the board of Eureka in their Target Statement response on ASX as being opportunistic and undervaluing Eureka's assets reinforces the board's view that there is strong interest in Eagle Ford Shale assets in the USA and in particular within our project acreage. The liquids rich nature of the acreage shelters the partners from low gas prices in the USA. The read across valuations from these corporate activities gives the board great comfort that our Sugarloaf Project is progressing successfully and that the fundamental value of the project is robust. The operator of the Sugarloaf Project will be trialing certain initiatives this year aimed at improving production, recoveries and reserves. The board looks forward to the further development of the Sugarloaf Project and our shareholders can expect to see an updated reserve report - likely for the period to 30 June along with news from operations as a substantial and aggressive development program unfolds through this year." By Geela ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9641445&action=detail Tue, 15 May 2012 08:30:00 GMT Geela tag:iii.co.uk,2003:tst.9621654
Tas By Tas Devil is back ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9621654&action=detail Wed, 09 May 2012 10:50:00 GMT Tas Devil is back tag:iii.co.uk,2003:tst.9612641
Got abt half of investment back........what a farce, plenty in fighting, back stabbing and all round not a pleasent experience! By czubaboy ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9612641&action=detail Sun, 06 May 2012 11:57:00 GMT czubaboy tag:iii.co.uk,2003:tst.9612504
I now have my shares in a mixture of nominee and certificate form, and at a break even of 14/15p, I will certainly be holding for the bigger gains.

The potential from SK, particularly if the reduced spacing, horizontal wells and other technological advances are successful, is enormous, and worth many times the current sp.

I still haven't given up hope with RB, although the price of gas possibly one reason that has been put on the back burner. EAGLE news also eagerly awaited.

Another 12 months or so to wait for the really big gains, as the increases in profits will be there for all to see.

Hey czubaboy. I remember you from LGB days. Did you get your return from that fiasco ? By fitzy1203 ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9612504&action=detail Sun, 06 May 2012 10:00:00 GMT fitzy1203 tag:iii.co.uk,2003:tst.9611469 http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9611469&action=detail Sat, 05 May 2012 09:52:00 GMT czubaboy tag:iii.co.uk,2003:tst.9611468 http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9611468&action=detail Sat, 05 May 2012 09:51:00 GMT czubaboy tag:iii.co.uk,2003:tst.9610451
For a few months more - you could have gravy on it.

bob By Bob Wallet ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9610451&action=detail Fri, 04 May 2012 17:07:00 GMT Bob Wallet tag:iii.co.uk,2003:tst.9607457 http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9607457&action=detail Fri, 04 May 2012 07:53:00 GMT schlumberger tag:iii.co.uk,2003:tst.9607384
"id settle for anything over 10p"....
- seems a very short sighted approach - after all this time.

bob By Bob Wallet ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9607384&action=detail Fri, 04 May 2012 07:41:00 GMT Bob Wallet tag:iii.co.uk,2003:tst.9605951 http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9605951&action=detail Thu, 03 May 2012 16:58:00 GMT schlumberger tag:iii.co.uk,2003:tst.9604817
Empyrean Energy PLC

Final results

For the period 1 April 2011 to 31 March 2012

Empyrean Energy PLC ("Empyrean" or the "Company"), an oil and gas explorer and producer established to finance the exploration, development and production of energy resource projects in geopolitically stable environments, today announces its results for the year ended 31 March 2012.

Highlights

Financial

· Revenues for the 12 months to 31 March 2012 of £2.69 million (2011: £811,000)
· Profit after tax for the 12 months to 31 March 2012 of £675,000 (2011: loss £5.4 million)
· Cash and cash equivalents at 31 March 2012 of £1.5 million
· Post period end: a committed offer from Macquarie Bank Limited to provide a 3 year term debt facility for up to US$50 million to support the Company's participation in the development of the Sugarloaf Project in onshore Texas, USA. Completion of the facility documentation and satisfaction of conditions precedent would see Empyrean fully funded for the anticipated drilling and development schedule through 2012.

Operational

· Increase in 1P reserves (by 41.7% to 1.5MMboe) and 2P reserves (by 39.1% to 3.2 MMboe) for the Sugarloaf Project;
· Updated independent reserves report as at 31 August 2011 at the Sugarloaf Project: Net Present Value at 10% discount rate of 2P reserves assessed at US$57.7m (as announced on 22 December 2011);
· Marathon Oil Corporation ("Marathon") have taken over as operator of the Sugarloaf Project with initiatives in place to enhance recoverability and production. Marathon has indicated a ramp up in the rate of development as rigs become available, with at least 45 wells planned for 2012;
· To date there are 25 wells producing gas and condensate in Block B. The full exploitation of the Eagle Ford Shale in Block B is estimated to require at least 283 wells (based on an 80 acre spacing) in which Empyrean will have a 3% interest in most of these; and
· Sale of Hercules Project for US$1m.


Commenting today, Empyrean CEO Tom Kelly said "We are delighted with progress at Empyrean's flagship Sugarloaf Project, where higher production resulted in increased revenues and a reported profit in the year to 31 March 2012. Recent corporate activity that includes the Sugarloaf Project also underpins the Board's view on the current and potential future value for Empyrean's interest in the project. We are now focused on participating in the aggressive development drilling programme being implemented by the operator, Marathon, and expect the reserves-based lending facility with Macquarie to fund our obligations in the current year. We look forward to the future with confidence, anticipating good scope for production and value growth and reserve upgrades in this liquids-rich Eagle Ford Shale play as drilling and development continues at a rapid pace."


For further information

Empyrean Energy plc
Tom Kelly
+618 9388 8041

Shore Capital
Anita Ghanekar
Edward Mansfield
+44 (0) 20 7408 4090



CHAIRMAN'S STATEMENT

I am delighted to report that this Financial Year has been a year of transformation for Empyrean Energy Plc ("the Company"). As we reported in the Interim Results, the Company generated a profit after tax for the 6 month period to September 2011 and this has flowed through to our end of year accounts resulting in our first profit after tax for the full year. This is a significant achievement in itself. We continue to focus on the development of the Sugarloaf Project, where we now have 25 wells in production, as part of our objective to transform from an exploration company to a substantial oil and gas producer. As the Sugarloaf Project is developed and our cash flow grows we will continue to seek appropriate opportunities to grow the Company via our existing exploration projects as well as new projects.

Last year,inde By Geela ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9604817&action=detail Thu, 03 May 2012 12:55:00 GMT Geela tag:iii.co.uk,2003:tst.9603597 LB By Leicesterboy ]]> http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9603597&action=detail Thu, 03 May 2012 09:20:00 GMT Leicesterboy tag:iii.co.uk,2003:tst.9603145 http://www.iii.co.uk/investment/detail?code=cotn:EME.L&display=discussion&id=9603145&action=detail Thu, 03 May 2012 07:58:00 GMT czubaboy