Drilling Report

Empyrean Energy PLC
17 February 2006



                              Empyrean Energy PLC
                  ('Empyrean' or the 'Company'; Ticker: (EME))

                                Drilling update
             WIRELINE LOGS INDICATE POTENTIAL OIL PAY IN CALIFORNIA

AIM quoted Empyrean Energy PLC today announces the following update on the Eagle
North-1 well in California, USA.

Victoria Petroleum NL as operator for the Eagle North-1 well has advised that at
0900 hours on 17 February 2006, Perth, Australia Western Standard Time, the
current operation was analysing electric wireline logs run over night to
evaluate the hydrocarbon shows encountered in the well while drilling.

Preliminary analysis of the wireline logs indicate oil saturation in the target
Gatchell sands over the 21 metre gross interval from 4,136 metres to 4,157
metres with net pay of 7 metres.

The target Gatchell display wireline log character is similar to that seen for
the Gatchell sand zones that produced oil in 1986 in the Mary Bellocchi-1 well
366 metres to the south east.

Wireline log interpretation also indicates that the top of the Gatchell sand
drilled in Eagle North-1 is at the same level as seen in Mary Bellocchi-1, thus
providing further support for the interpreted presence of a commercial Eagle Oil
Pool in a potential stratigraphic trap.

Based on the wireline log interpretation of the presence of oil in the target
Gatchell sandstone, the well will be cased and production tested with the
current Kenai Rig 6 over the next 8 days.

Following the production testing confirming the extent of the Eagle Oil Pool in
the immediate vicnity of the Eagle North-1 well bore, the well will be
sidetracked and then horizontally drilled for a distance of 300 metres to be
completed for oil production.

The operator anticipates that a successful horizontal completion for production
would provide greatly enhanced flow rates.

Executive Director Thomas Kelly states 'These logs provide further encouragement
for the Eagle Oil Pool Development Project which is in an energy hungry
environment with existing infrastructure.'

For further information

Laurence Read/ Angus Prentice
Conduit PR
Tel: [phone]
Mob: [phone]

David Newton
HB-Corporate
Tel: [phone]

Chris Lambert
Empyrean Energy plc
Tel : [phone]





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