EMPE - Empiric Energy Inc Message Board

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Gold/Mining/Energy : EMPE - Empiric Energy Inc

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To: Brad who wrote (7)	12/24/1997 3:11:00 PM
From: Sojourner Smith	Read Replies (1) of 63

Yes Brad, that is exactly what I think he meant about the faxes. He said they sent out 200 of them. The reason that EMPE has struggled is that the IPO was not very successful (see April letter). Which isn't all that uncommon. So financing is the key. They have done a good job managing what they have, reducing their debt to nil, etc. So when R.R.Rothrock joins up in 30 days we will see what unfolds. Some more history: "In March 1996, Empiric entered into an agreement with Westar Energy Inc. for an @ 88 gas well infill drilling program in Indiana and Westmoreland counties in Penn.... Permits have already been obtained for @ 50 infill drilling locations. ... eight wells have been drilled with all eight producing wells confirmed. The total proven reserves are estimated to be 6.6 Bcf of gas, @ 2.5 Bcf to Empiric's Net Revenue Interest after all royalities, backins and other outside carried interests. " There are some interesting comments made about this deal that everyone interested long term should read. I hate to comment without knowing the oil industry or financial deals better. This seems to be the mainstay of EMPEs profit stream and looks good for a long time to come IMO.

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