Drilling Report

Empyrean Energy PLC
21 November 2005


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

                                Drilling update

Glantal Gas Project Germany

Mobilisation of the drilling rig and associated equipment to the Glantal-1 well
site has commenced and 'rig up' activities in preparation for the spud in of the
Glantal-1 well will continue over the next several days.

The drilling contractor has completed the conductor hole and installed and
cemented 13' casing at 20 metres. The drilling contractor will now prepare for
the 'spud in' of the 121/4' hole below the conductor pipe.

The Glantal-1 well is targeting reservoirs, estimated by the independent expert
to have the potential to contain recoverable reserves of between 1.2 and 6.2
trillion cubic feet of natural gas. The Glantal-1 well is designed to test the
seal quality of overlying sediments and determine whether natural gas has been
effectively trapped in economic quantities.

Eagle Oil Pool Development Project, San Joaquin Basin, California, USA

Victoria Petroleum NL ('Vicpet'; ASX Ticker : (VPE)), the operator of the Eagle
Oil Pool Development Project has advised that the rig contracted to drill the
Eagle North-1 well is expected to arrive on location in late December 2005 for
anticipated drilling to commence late December 2005 or early January 2006.

Empyrean's independent consultant has estimated a P10 potential of up to 22.7
million barrels of recoverable oil and 22.7 billion cubic feet of associated
gas, as compared to Vicpet (and other participants in the Eagle Oil Pool
Development Project) who have estimated the P10 potential reserve estimate for
the Eagle Oil Pool Development Project at up to a recoverable 34 million barrels
of oil and 58 billion cubic feet of gas.

It must be noted that both of the above reserve estimates are interpretations of
data and there are subjective assumptions made in the calculations. Empyrean's
consultant has been more conservative. Successful drilling and testing will
provide the participants with more accurate potential reserve figures.

It is anticipated that due to the requirements of the ASX Vicpet, as the
operator, and the other participants will be announcing daily drilling reports.
As Empyrean is governed by the AIM Rules and not the ASX, it is not Empyrean's
intention to make daily announcements during the drilling campaign but rather to
announce all matters of a material nature, as stipulated by the AIM Rules.

Empyrean will make further announcements when the definitive dates for
commencement of drilling are known for both Glantal-1 and the Eagle Oil Pool
Development Project.



Chris Lambert
Empyrean Energy plc
Tel: [phone]

Laurence Read/Amanda Harris
Conduit PR              
Tel : [phone]
Mob: [phone]

David Newton
HB Corporate
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