IN BRIEF: Empyrean Energy sinks as no oil found at Jade prospect
Empyrean Energy PLC - oil & gas explorer and producer with assets in China, Indonesia and US - Says the Jade prospect at its 100% owned Block 29/11 permit, offshore China, reached final total depth but logging indicated no oil pay in the target reservoir. "We are extremely disappointed with the results of the well, particularly after conducting a systematic and comprehensive technical analysis followed by running a safe drilling operation," says Chief Executive Tom Kelly. Read More