14th Nov 2007 09:06
Empyrean Energy PLC14 November 2007 14 November 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Sugarloaf Prospect, ("Sugarloaf"), Block B, Texas USA •Sugarloaf-1 well starts producing gas and condensate on flow test from deepest of three zones •Kennedy #1H well reaches total depth after encouraging gas readings whilst drilling and prepares to run electric logs Empyrean, the AIM listed oil and gas explorer and producer with assets inGermany and USA today announces the following: Kennedy #1H Well----------------Texas Crude Energy Inc has advised that the Kennedy-1 exploration well hasreached total depth of 16,750 feet (measured depth) and is running logs prior tocasing for completion and testing. Total depth was called some 820 feet short ofthe original proposed measured depth of 17,570 feet for operational convenience.Background gas levels whilst drilling in the Austin Chalk upper target zoneremained in the range of 40 to 300 units; the commercial significance of whichwill not be known until testing operations are completed. Sugarloaf-1 Well----------------Post fracture stimulation logs have now been run and are being analysed. Thelowermost Austin Chalk interval that was previously fracture stimulated has beenput back on flow test and on 11 November commenced flowing gas at a rate of387,000 cubic feet per day with approximately 335 barrels of water (mostly fracfluids) per day. As at report time on 13 November, the well had declined to180,000 cubic feet per day with minor quantities of water. In addition, over thefinal 5 hours of the report period, 39 barrels of condensate had been produced.The significance of these flows will not be known until the testing of the zonehas been completed and analysed. Further updates will be provided following developments. The information contained in this announcement was completed and reviewed by theTechnical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who hasover 40 years experience as a petroleum geologist. Commenting today, Empyrean director Tom Kelly said - "The fact that theSugarloaf-1 well has started producing gas and now condensate on test flow isvery encouraging. This has significant implications for the potentialproductivity from the deepest of three potentially productive zones in theSugarloaf-1 well. More testing and information is required, but this iscertainly encouraging from a zone that was not looking so good. In addition, theKennedy well appears to have gas zones that correlate to the discovery well onBlock A nearby and we look forward to analysis of electric logs and testing." For further information Charlie Geller/ Ed PortmanConduit PRTel: +44 (0) 207 429 6605/+44 (0) 7979955923 Rod VenablesHB CorporateTel: +44(0) 207 510 8600 Empyrean Energy plcTel : +44(0) 207 182 1746 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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