As an appraisal well its been successful. We have a commercial well... With fracking the lower zones the flow rate could be increased x 10 est. then there's Alvares in Q3 plus the 4 other nearby wells being worked on / linked into the California gas pipeline. I'm patient to wait for Q3 / Q4 results. The Alvares potential has been the main reason for investing here, it would have been tremendous though to have seen Zone 4 flowing naturally and in volume. But that I am afraid is part of the risk. Onwards and Upwards now.
From : Malcy's blog re : Empyrean Energy.
Empyrean Energy
Whilst on the subject of cratering,the EME share price was off as much as 30% first thing this morning as they announced a higher than expected production of gas of 1,200 mcf/d from the Dempsey well.
After chatting to Tom Kelly last week this was very much as expected and I am at a bit of a loss as to why the market is taking the news so badly, I am sure someone will tell me before long.
The JV are also intent on connecting four idle wells nearby which should be a cheap add to production and revenues.
Also as expected the JV is seeking approval to re-enter the Alvares well, either to log through the casing or to drill a side track which given its potential could be very exciting.
This bringing on of Dempsey gas is good news, it will add to cash flow ‘very shortly’ and maybe in due course much more into the bargain.
Finally, the fall this morning as far as I am aware does not take into account imminent good news from Indonesia and further out potential significant value add from the position in China all of which should push the share price a lot higher, what do I know eh?
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