Company
Empyrean Energy PLC
LON:EME
Empyrean Energy PLC is a London AIM listed oil and gas explorer. The company is currently focused on three cornerstone assets with transformational potential: Block 29/11 offshore China; the Duyung PSC offshore Indonesia and a multi project participating interest in the Sacramento Basin, California.
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Empyrean Energy committed to offshore China programme
The Topaz prospect has an estimated 506mln mean barrels of oil in place
Empyrean Energy welcomes approval for Mako field development
Empyrean holds an 8.5% interest in the Duyung PSC where Mako is situated
Empyrean Energy focused on Topaz well in China
Empyrean has an 8.5% interest in Mako, while AIM-peer Coro Energy has a 15% stake
Empyrean Energy advancing Mako gas project
“The independent assessment of the project by Gaffney Cline shows that the project economics are highly robust," Tom Kelly said.
Empyrean Energy confirms drilling of second well offshore China
Empyrean’s partner on the exploration of Block 29/11 is Chinese state oil company CNOOC
Empyrean Energy raises new equity as analysis continues to progress Topaz project
“This capital raising and debt restructuring will allow Empyrean to move forward."
Empyrean Energy eyes 2023 spud as it confirms intention to drill Topaz prospect
“Empyrean's early assessment is that the much larger Topaz prospect remains a world-class conventional light oil target."
Empyrean Energy to reassess Jade data as well disappoints
Logging while drilling indicated no oil in the target reservoir
Empyrean Energy says chances of Jade success increases, drilling ongoing
The explorer's own estimate now puts the geological chance of success at 65%, up from 41% - meanwhile, well operations continue.
Empyrean Energy says Jade well making good progress
Casing is now underway to be followed by the installation of a blowout preventer,
Empyrean Energy starts drilling of Jade well
Logging While Drilling (LWD) operations will be carried out simultaneously
Empyrean Energy expects weekend spud at Jade well
“We look forward to providing updates as the drilling starts and further progress is made," said CEO Tom Kelly
Empyrean Energy to mobilise drill rig at Jade prospect this week
Weather has improved allowing the rig to be towed into position
Empyrean Energy updates on Jade well timeline
"We look forward to re-commencing rig mobilisation operations as soon as weather conditions allow for safe working conditions," said Tom Kelly.
Malcy's Blog - Oil price, Empyrean. And finally…
Oil price, Empyrean. And finally…WTI $112.34 -2.59, Brent $119.03 -$2.57, Diff -$6.69 +2c, NG $5.40 +17c, UKNG 251.0p -24.0pOil priceOil has fallen again today, partly whilst the EU struggle to agree on sanctions against Russia and partly a
Empyrean Energy expects Jade well spud in early April
"We are delighted that we are now days away from being ready to spud one of the highest impact and exciting wells of 2022,” said Tom Kelly
Empyrean Energy ready to let the drill bit do the talking on the Jade prospect
The challenges that have been overcome in order to get to this stage and be ready to drill are many
Empyrean Energy completes offshore survey ahead of Jade well
The team overcame rough weather and sea conditions to complete the survey, which is a prerequisite to the high-impact drill programme.
Empyrean Energy starts legal action in Singapore over cyber fraud
The oil and gas company said it will take the necessary steps to recover the funds involved in the fraud
Empyrean Energy to progress Jade programme despite poor weather
“We need a little bit of luck from the weather, but we are finding ways to progress despite the unseasonal late poor weather conditions,” said chief executive Tom Kelly
Empyrean Energy set for 'exciting time' as drilling to start at Jade prospect in new year
Empyrean said preparations are on track for the start of drilling at its Jade prospect.
Empyrean Energy fully funded to drill Jade after £7.6mln raise
A placing at 6p raised £3.62mln with a further £4mln coming from a convertible loan
Empyrean Energy confirms December spud for Jade well as drill contract signed
"The signing of the integrated drilling contract with COSL, marks another important milestone," said chief executive Tom Kelly
Empyrean Energy upbeat will spud China Jade prospect in December
“We are now counting down towards drilling of the company's first exciting exploration well in China"
Empyrean Energy signs up contractor for Jade site survey
"The well site survey contract award marks an important and crucial milestone," said chief executive Tom Kelly
Empyrean Energy signs up driller for Jade exploration well offshore China
“The countdown to the drilling of the Jade prospect has begun," said chief executive Tom Kelly
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Empyrean Energy has huge upside if Jade well comes in, says Cenkos
Exploration success at Jade would see the risked valuation of the prospect increase from 9.9p to an estimated 41.8p
Empyrean Energy on track to drill Jade prospect in 2021
A £5mln placing in July will provide funds for the programme
Empyrean Energy counting down to transformational Chinese exploration well
The small-cap oil and gas firm is working rigorously to prepare for a potentially transformational exploration well offshore China.
Empyrean Energy starts planning for Jade well in China
"We are excited about commencing comprehensive planning for drilling our first well in China,” said chief executive Tom Kelly
Empyrean Energy adds US tax refund to kitty
An expected US$357,702 US tax refund has now been received by the company
Empyrean Energy’s Chinese exploration prospects upgraded by stockbroker Cenkos
The Jade and Topaz prospects have each been valued by Cenkos at premiums of 206% and 94% respectively.
Empyrean Energy extends deadline for first well offshore China
"This 12-month extension is a further example of the excellent cooperation and understanding between CNOOC and Empyrean,” said Tom Kelly.
Investments and investor services
GRC International slides as it places shares to finance an acquisition
A look at the day's major movers, including eServGlobal, Plaza Centers, Range Resources, Pathfinder Minerals, Altus Strategies, Coro Energy and Empyrean Energy
Empyrean Energy reveals findings of Mako resource report
“Rarely do you get such a unique mix of low risk appraisal coupled with a potentially high reward exploration target under an advantageous structure," chief executive Tom Kelly said.
Empyrean Energy reveals estimate upgrade for China prospects
“The work done by GCA certainly supports Empyrean's view on the potential size and attractiveness of these prospects"
Empyrean Energy sees volatile trading on Mako gas project update
"The extent and excellence of work completed by Conrad in conjunction with Lemigas is extremely pleasing,” said Tom Kelly, Empyrean chief executive
Empyrean Energy due US$1.3mln of tax refunds
The AIM-quoted oil and gas group is receiving tax refunds from both the UK and United States
PowerHouse Energy shares lifted as it debunks speculation on Science Park closure
A look at some of the biggest risers and fallers in London on Wednesday
Empyrean Energy shares drop despite Dempsey production plans
The well is expected to deliver cash flow soon and Empyrean will now turn to the Alvares
Empyrean Energy shares advance on Dempsey well result
It was described by Empyrean as a “very encouraging flow rate”
Nanoco Group on the front foot after receiving £1.8mln payment from US partner
A look at some of the top risers and fallers in London on Tuesday
Polymetal shares lose their shimmer as it goes on a shopping spree
Polymetal has acquired an 85% stake in one copper-gold deposit, sold an 85% in another copper-gold project, and it has also upped its stake in a silver property
Empyrean Energy set to resume Dempsey well testing
"We look forward to testing operations re-commencing at Dempsey following an extensive technical review process,” said chief executive Tom Kelly
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Empyrean Energy: Gas production starts at Dempsey well
"This is a milestone achievement and with production and gas sales now underway at Dempsey 1-15 crucial data on the quality of the reservoir will now be collated ahead of fracture stimulating this zone”
Empyrean Energy shares drop as Dempsey well test disappoints
The company remains optimistic about the potential of the remainder of the Dempsey well
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Empyrean Energy shares drop as investors wait for well testing
Testing will get underway once a more cost effective rig has been moved to the site
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Empyrean Energy hits main target in Dempsey well, more ‘significant’ gas shows
"After slow and steady drilling through some very hard rocks over the last few days, we are very encouraged to see the best looking gas shows from another sand," Tom Kelly said.
FTSE 100 trims losses
The FTSE 100 retreated as investors worry about Hurricane Irma, while mixed economic statistics raised fresh concerns over the UK economy.
Empyrean Energy says China seismic exploration has exceeded expectations
The seismic programme has unearthed hundreds of millions of barrels of oil potential