2nd Jul 2010 07:55
2 July 2010
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker (EME))
Sugarloaf Project, ("Sugarloaf"), Block B, Texas USA
Empyrean is pleased to provide the following update on production at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.
Production Update
The following wells have reached the 60 day production milestones:
|
|
Fractured Horizontal Length (ft) |
Total Gas Production (mmscf) |
Total Condensate Production (bbls) |
Average Daily Equivalent Gas Rate (mmscfe/d)* |
|
Morgan #1H |
4400 |
201 |
65,200 |
17.2 |
|
Easley #1H |
2750 |
221 |
19,600 |
8.5 |
* The equivalent gas rates have been calculated to reflect value using a 12:1 conversion ratio for condensate and a 25% uplift on gas equivalent volumes due to the high calorific value of the produced gas.
These additional production figures continue to be very encouraging for the economics of the field. Further production updates for these wells will be provided in quarterly reports going forward.
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.
Contact:
Tom Kelly Empyrean Energy Plc Tel: +618 93216988
Nominated Adviser and Broker:
Jerry Keen Astaire Securities Plc Tel: +44 (0) 20 7448 4400
Shane Gallwey / Toby Gibbs Astaire Securities Plc Tel: +44 (0) 20 7448 4400
Related Shares:
Empyrean