Riverbend Project commencemen

RNS Number : 4510Y

Empyrean Energy PLC

03 September 2009

 

3rd September 2009

Empyrean Energy PLC

('Empyrean' or the 'Company', (EME))

Riverbend Project, onshore Texas, USA.

• Rig-up and pre-operation safety testing complete at Quinn 3H well.

• Well has been 'spudded' and operations have now commenced.

Empyrean Energy Plc is pleased to announce that it has been advised by Krescent Energy Company LLC ('Krescent'), the operator of the Riverbend Project in Texas, that rig-up at the Quinn 3H well has now been completed with 'spudding' of the well occurring at approximately 10.00pm (Houston, USA Time) on the 2nd September 2009. 

Initial operations will involve going back into the vertical part of the Quinn 3H well that is behind casing to condition the hole in preparation to test the casing and run a cement bond log. Following these operations the operator will mill a new window in the casing in order to commence drilling the horizontal section of the well.

Further announcements will be made as significant developments occur.

Contact:

Tom Kelly               Empyrean Energy Plc           Tel: [phone]

Nominated Adviser and Broker:

Jerry Keen              Blue Oar Securities Plc        Tel: [phone] 

Shane Gallwey         Blue Oar Securities Plc        Tel: [phone]

Further information on the Riverbend Project

The project area comprises a total of approximately 40,000 acres under lease or option and an area of mutual interest totaling 50,000 acres targeting the Austin Chalk and shallower Saratoga Chalk plays.

A first well has been drilled on the project - the Quinn 3H well which encountered multiple gas flares and shows in the primary target zone before hitting a very high pressure gas zone that ultimately resulted in a blowout. Krescent took remedial action and was able to plug the vertical section of the well but lost the final 1000 feet of horizontal. The plan moving forward is to re-enter this well with a rig with greater pump capacity, specifically designed to handle the higher gas pressures similar to those encountered during the first attempt, mill a new window, and drill up to an estimated 5000 foot horizontal lateral to complete the well in the Austin Chalk B zone. The well has a sales pipeline already connected and upon successful completion of the horizontal the well will be flow tested direct to sales.

The project comes with access to Krescent's 60 square miles of proprietary 3-D seismic coverage.

 

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