30th Mar 2022 20:19
Empyrean Energy PLC - oil & gas explorer and producer with assets in China, Indonesia and US - For drilling the Jade well in Block 29/11 in China, the safety inspection at the China Oilfield Services Ltd-owned drill rig has been completed and the rig is cleared for mobilisation.
However, high winds and seas have required a rescheduling of up-anchor, mobilisation and anchoring at the well location. From the spud date, the Jade well is expected to take around 26 days to drill to total depth.
"We look forward to re-commencing rig mobilisation operations as soon as weather conditions allow for safe working conditions. Based on the current long range forecast, we do not expect the wait to be very long," says Chief Executive Officer Tom Kelly.
Current stock price: 10.50 pence, down 4.6% in London on Wednesday
12-month change: up sharply from 4.8p
By Dayo Laniyan; [email protected]
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