28th Jun 2007 09:41
Empyrean Energy PLC28 June 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Project Margarita, Gulf Coast Texas USA --------------------------------------- AIM quoted Empyrean Energy PLC today announces the following update with regardsthe drilling program at Margarita: 1. AGAVERO PROSPECT The operator of the Agavero #1 well has advised that the well has reached totaldepth of 1,341 metres (3,500 feet) after intersecting the target Frio V sand.Wire line electric logs have been run and petrophysical analysis suggests 5.5metres (18 feet) of gross gas pay on rock with no water from 889.4 meters (2,918feet) depth. The Operator has recommended perforation of the whole gross pay zone; the upper4.0 metre laminated sand first to evaluate its reserve potential and then addingperforations to the base 1.5 metre sand interval to evaluate overall reservepotential. Current activity is running casing to carry out testing back to back with DonaCarlota. 2. DONA CARLOTA PROSPECT Testing operations on Dona Carlota #1 should be underway in the next few days.As previously advised, wet weather and local flooding during the week has deniedaccess to the well site. Interpretation of wire line logs indicate the targetFrio 1.33 sand in Dona Carlota #1 has a gross gas zone of 13.9 metres and netgas pay of 5.6 metres over the interval 1,423.2 to 1,437.1 metres with gas onrock and no water. As with the successful initial three well program, tie in of any commercialdiscovery made on these prospects will be rapid as the project area is crossedby a number of gas pipelines with access rights and available capacity to tieinto. Participants in the Margarita Project are: Empyrean Energy PLC* 44.00%Sun Resources NL# 20.00%Victoria Petroleum NL# 20.00%Wandoo Energy LLC + 16.00%Total 100.00% # ASX listed * AIM listed + USA Private Interest 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. For further information: Charlie Geller/ Ed PortmanConduit PRTel: +44 (0) 207 429 6605/ +44 (0) 7979955923 Empyrean Energy plcTel: +44(0) 207 182 1746 Rod Venables/ Cecil JordaanHB CorporateTel: +44(0) 207 510 8600 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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