Empyrean Energy

azalea

"I would be looking for the sp to at least quadruple for every trillion cubic ft recoverable."

For starters VOGs half trillion cu ft find is estimated at at around £350m and that is with gas prices based on $40 per 1000 cu mts.

German gas prices are different and now closer to $6 per 1000 cu-ft ie circa $210 per 1000 cu mts. (4-5 times higher).

EME has still only a market cap of £10m - yes risky - but then again they wouldn't be drilling if they didn't think there was potential of success.

Even a modest find would multiply the share price considerably.

Irrespective of the above,

There is the much lower risk Eagle oil project with proven commercial oil and gas flows. One of the partners has already described this as a low risk engineering excercise and that the well is best described as a step out well.

Victpets CEO has said that the Eagle project appraisal success would double its market cap ie from circa £25m to £50m and that is based on their 20% share.
With EME holding 38.5% (almost twice the size of Vicpets share) and a market cap of only £10m, that therefore suggests a very possible 4 - 5 fold increase to £40m - £50m mkt cap based on the CEOs comments from Vicpet.

There is a limited supply of shares outside of the considerable institutional holdings (already posted) so I would imho envisage this rising quite sharply. A 50% increase would still see this at only £15m mkt cap.

Just take a look at Chaco - £33m mkt cap - nothing drilled as yet and reserves on their share of a Colombian oil field no greater than EMEs Eagle prospect - with still the potential in Germany which could be nothing or spectacularly rewarding.

Dyor etc.