The Lemon Fool

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

Soon to spud their High Impact Jade well offshore China. Will be interesting with considerable upside on success.

Latest broker note download link (Cenkos) : https://gofile.io/d/HUAZCd

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I see some people could not download the Cenkos note on EME from the GoFile link. I have therefore put it on WeTransfer, will be available for 1 week. PDF download link is below;

https://we.tl/t-ZY4u7Pb4B3

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One person has made a video with their thoughts on the geology for EME.......worth a watch.

https://www.youtube.com/watch?v=sv6bc_SxtfM

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Spud of Jade well to be around 2nd of April.

https://www.investegate.co.uk/empyrean- ... 34540410G/

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News from Coro Energy with regards to Duyong gas

Worth 10p or more a share to @EmpyreanEnergy imo.

https://investegate.co.uk/coro-energy-p ... 00101003G/

........the Company is approaching multiple critical inflexion points across both the Duyung PSC, where commercial progress is expected imminently..........

Good video by Steven Larratt offering his views on what to expect as we get closer to the Jade well spud.

https://www.youtube.com/watch?v=wSh_Impm83M

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Information on Mako, where EME has an 8.5% interest in the Duyong PSC.

This comes from the new website of Conrad, who hold 76.5%.

GSA with either of the 2 Singaporean entities or 1 Indonesian could happen anytime.

Conrad are looking to list on the Australian ASX. One wonders when they do so, will they buy out the 8.5% share held by EME with the additional funds raised ?


https://conradasia.com/projects/

Duyung PSC and Mako Gas Field Overview

One of the largest undeveloped gas discoveries in the West Natuna Sea with key under-utilised infrastructure in place

Mako Gas Field is one continuous “single tank” of methane gas with insignificant impurities and a highly permeability reservoir with excellent productive capability

POD for Mako Gas Field approved in February 2019, converting PSC from exploration to exploitation, and extending tenure to 2037

Currently working with SKKMigas on a revised POD consistent with higher resource estimates following recent successful drilling campaign. New POD production offtake increased by >340%

Ongoing discussions with buyers in Singapore and Indonesia on gas sales agreements. Two Heads of Agreement already signed with Singapore buyers

Will shortly commence FEED work for the development of the field

Geographic location and technical aspects of resource yield high valuation metrics


Conrad holds a 76.5% operated interest in the Duyung PSC via its wholly owned subsidiary, West Natuna Exploration Limited, with the project located in the Riau Islands Province, Indonesian waters in the West Natuna area. Duyung is located approximately 100 kilometres to the north of Matak Island and about 400 kilometres northeast of Singapore.

The Duyung PSC runs until 16 January 2037 and was awarded in 2007 under the cost recovery regime, originally covering an area of 4,641 square kilometres, and after fulfilling all the relinquishments and work program commitments, the PSC now covers a final area of 927 square kilometres. In early 2019, the Duyung PSC contractor partners and the Indonesian government amended and restated the PSC under the gross split scheme.

The Duyung PSC contains the Mako Gas Field, which was discovered by Conrad through the drilling of the Mako South-1 well in 2017. A Plan of Development (POD) for the field was approved in 2018.

Subsequent appraisal drilling and testing of two wells in 2019 further delineated the gas field, resulting in the identification of additional gas resources. Conrad is currently working with the Indonesian government to revise its POD in order to accommodate greater gas volumes and attendant production rates. The Mako Gas Field has been assessed (as noted in the technical expert's report prepared by Gaffney, Cline & Associates which will be included in the prospectus) to contain full field 2C resources of 419 Bcf (100%).

Conrad is in the process of negotiating gas sales agreements with two potential gas buyers in Singapore and one potential buyer in Indonesia, with the first gas sales currently scheduled for 2025.

Wind forecast looks good from Tuesday next week onwards.

So all being well, rig mobilisation to Jade prospect may start on Tuesday 5th April.

https://www.windfinder.com/#6/22.6748/1 ... -05T12:00Z

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Winds look fine now from Tuesday for 5 or 6 days.....so looking good for Tuesday rig mobilisation to Jade.

https://www.windfinder.com/#6/22.6748/1 ... -05T12:00Z


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Rog mobilisation.......off we go.

https://www.investegate.co.uk/empyrean- ... 00040625H/

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Rig on location. Spud expected 10th April


https://www.londonstockexchange.com/new ... n/15404489

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Jade well now spudded.

https://www.londonstockexchange.com/news-article/EME/drilling-commences-at-jade-prospect/15406573

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New Cenkos note on EME, download link below, PDF file.

https://gofile.io/d/tHbE90

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Duyung comments is all relevent to EME


https://www.proactiveinvestors.co.uk/co ... 79665.html

........Hodd also explains how the extension of its debt facility will take it up to first gas from the Duyung field, offshore Indonesia........

As a reminder of "why" the gas clouds seen over Jade and Topaz are thought to be highly significant - this from 2019 summarises things very well.

CNOOC discoveres nearby were seen with gas clouds, CNOOC dusters nearby were seen without gas clouds. That Jade and Topaz have gas clouds bodes very positively, and in a couple of weeks we will know the outcome.

By anyones metric - if Jade strikes oil, the bigger Topaz prospect is a "bolt on certainty".....and likewise, if Jade fails then question marks over Topaz.



https://www.offshore-energy.biz/empyrean-discovers-gas-clouds-over-prospects-offshore-china/


Empyrean discovers ‘gas clouds’ over prospects offshore China

May 15, 2019, by Offshore Energy Today

China-focused oil and gas development company Empyrean has said that it has identified ‘gas clouds’ over tw.......................

Link to FE comment on EME

https://i.ibb.co/qgMmxV5/EME.jpg

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New video by SL.

https://www.youtube.com/watch?v=3C2XSxVtT8U

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Dry well. Share price down 70%
https://www.investegate.co.uk/empyrean- ... 00135030J/

The price of oil exploration. You win some...