Operations Update

RNS Number : 7987D

Empyrean Energy PLC

01 May 2013

 



2 May 2013

Empyrean Energy PLC

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

Operations Update

Riverbend Project, onshore Texas, USA

·    Operations commenced to re-complete the Cartwright-1H well at Riverbend

Empyrean Energy Plc (AIM: EME), the condensate and gas producer, provides the following update on operations at the Riverbend Project in Texas.

Empyrean is pleased to advise that it has been advised by Krescent Energy Partners II LP ("KEP II"), the operator, that re-completion operations have commenced at the Cartwright-1H well.

The re-completion is expected to take a number of weeks.

Background

As previously announced on 19 March 2013, Empyrean has received, and elected to proceed with a proposal to re-complete the Cartwright-1H well in the Wilcox interval between 9584 feet to 9590 feet in vertical depth. The Wilcox interval is shallower than the original Austin Chalk target and KEP II interprets from petro-physical analysis that it may be productive. KEP II has also interpreted from seismic that the Wilcox zone of interest appears to be stratigraphic in nature as no structural closure has been mapped.

The existing well has a downhole obstruction that is currently limiting production to sub-economic flow rates from the Austin Chalk zone. The operator will re-enter the existing well bore and set a plug above the downhole obstruction and then proceed with operations to perforate and test the shallower Wilcox zone. The anticipated cost of the operation is approximately US$125,000 - US$200,000 and therefore Empyrean's share of these costs is expected to be in the range of US$12,500 - US$20,000.

KEP II believes that a successful re-completion in the Wilcox zone of interest would deliver flow rates in the range of 30 - 40 barrels of oil per day and 200,000 - 250,000 cubic feet of gas per day. KEP II has advised that future operational plans will depend on well response to the re-completion operations.

Empyrean will make further announcements to update in due course.

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.

For further information

Empyrean Energy plc 

Tom Kelly

[phone]

Shore Capital

Anita Ghanekar

Edward Mansfield

[phone]

Jonathan Charles

Lionsgate Communications

E: [e-mail]
M: [phone] 

www.lionsgatecomms.com 

Notes to Editors:

Empyrean Energy Plc is an AIM listed (Ticker: EME) condensate and gas exploration and production company focused on the Eagle Ford Shale, Texas, USA. Other assets include a 10% working interest in the Riverbend Project, Texas, just north of the prolific Brookeland Field (Austin Chalk) as well as a 57.2% interest in the Eagle Oil Pool Development Project located in the San Joaquin Basin, southern California.

Empyrean's portfolio includes an interest in over 81 producing wells with scaleable growth potential from further development and exploration upside.

 

END

 

 

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