Empyrean Energy PLC
30 November 2005
Empyrean Energy Plc
(Ticker:'EME')('Empyrean' or 'the Company')
Commencement of Drilling at Glantal Gas Project, Germany
AIM quoted Empyrean Energy PLC today announces commencement of drilling at the
Glantal-1 well. The Glantal-1 well is the first well to be drilled as part of
the Glantal Gas Project within the Neues Bergland permit in South West Germany.
Empyrean has the right to earn up to a 52% working interest in the Neues
Bergland permit.
Pannonian International Ltd ('Pannonian'), a wholly owned subsidiary of
U.S.-based Galaxy Energy Corporation (OTC BB: GAXI) are the Operator of the
project and have advised that drilling through the conductor pipe commenced on
November 29th.
The Neues Bergland permit is located close to Frankfurt in Germany and contains
the Pfalzer Anticline which is a 515 square kilometre structure containing deep
anthracitic coal beds. The coal beds, too deep to mine economically, have been
estimated by an independent expert to have generated several hundred trillion
cubic feet ('TCF') of gas, with a recoverable gas potential of up to 6.2 TCF in
the first drilling prospect alone.
The primary objective of the Glantal-1 well is to test seal integrity of
sediments that overlay the massive Pfalzer Anticline and then assess the
potential entrapment of gas in three targeted thrust sheets that have been
interpreted to host potential gas reservoirs. It is anticipated that the full
drilling program will take approximately forty five days to reach total depth
with testing of the three targeted thrust sheets and results available in Q1
2006.
Commenting, from the Glantal-1 well drill site, Chris Lambert, Executive
Director, said: 'As we clearly stated on admission to AIM, testing the seal
integrity at Glantal-1 in Germany is of prime importance to the project. It is
not often that a small company, such as Empyrean, gets the chance to drill a
prospect with the potential rewards the Glantal Gas Project offers. In addition
to today's news Empyrean continues to develop it's portfolio in the United
States as we work to appraise the Eagle Oil Pool Development Project in
California with drilling scheduled for late December or early January.'
Laurence Read
Conduit PR plc
Tel: +44 (0) 207 618 8760
Mob: +44 (0) 7979 955 923
David Newton
HB Corporate
Tel: +44(0) 207 510 8600
Chris Lambert
Empyrean Energy
Tel : +44(0) 207 932 2442
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.