Hercules Prospect Update

RNS Number : 5296H

Empyrean Energy PLC

23 February 2010

 

23^rd February 2010

Empyrean Energy PLC

('Empyrean' or the 'Company', (EME))

Hercules Prospect, onshore Texas, USA.

·    The BP America A-740 #1 well spuds on the Hercules Prospect.

·    Hercules has a mean gross unrisked resource potential of 21.4 Billion cubic feet of gas equivalent.

Empyrean Energy Plc is pleased to announce that it has been advised by the operator, Krescent Energy Company LLC ("Krescent"), that the BP America A-740 #1 well commenced drilling on the 20^th February 2010 at 20:30hrs local time.

The well has now been drilled to 1607 feet measured depth and 9-5/8" casing has been run and cemented. The operator is now preparing to drill ahead.

The Hercules Prospect is targeting Upper and Middle Wilcox sands and a well defined amplitude versus offset ("AVO") event, that appears in existing 3D seismic imaging, within the Upper Wilcox interval. The primary objective is in sand at a depth of 10,350' where the AVO anomaly conforms to structure.

Empyrean has a 10% working interest in this well.

Further updates will be provided as significant events occur.

The information contained in this announcement was 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: [phone]

Nominated Adviser and Broker:

Jerry Keen                    Astaire Securities Plc                Tel: [phone]

Shane Gallwey              Astaire Securities Plc                 Tel: [phone]

 

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