9th Oct 2012 07:00
9 October 2012
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Project : Onshore Texas, USA
Production and Operational Update
·; Empyrean reaches milestone of 50 wells in production at Sugarloaf
Production
The following is a summary of 30 and 60 day production data recently received for the following wells at the Sugarloaf Project:
Working Interest | Total Gas Production (mmscf) | Total Condensate Production (bbls) | Average Daily Equivalent Oil Rate (boe/d)* | |
Gilley Unit 2H - 30 day | 3.0% | 23.4 | 15,570 | 649 |
Franke Johnson 2H - 60 day | 0.953% | 59.3 | 19,592 | 491 |
Children Weston 2H - 60 day | 3.0% | 151.9 | 27,988 | 888 |
\* The wells have had the Average Daily Equivalent Oil Rate recalculated on a simple 6:1 basis.
Further production results will be released as they come to hand.
Operations
Empyrean currently has 50 wells in production in total at the Sugarloaf Project. In addition there are currently 4 wells being drilled and a further 3 wells in the process of having completion/ stimulation operations carried out.
This is a continuation of the rapid ramp up in development activities that has occurred at Sugarloaf this year.
The information contained in this announcement was completed and reviewed by the Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has over 40 years experience as a petroleum geologist.
For further information
Empyrean Energy plc
Tom Kelly
+618 9480 0111
Shore Capital
Anita Ghanekar
Edward Mansfield
+44 (0) 207 408 4090
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