Empyrean Energy PLC
30 April 2008
Empyrean Energy PLC
('Empyrean' or the 'Company'; Ticker: (EME))
Sugarloaf Block A, Texas USA
----------------------------
- TCEI JV Block A-1 well continues to flow at commercial rates direct to
sales line.
Empyrean, the AIM listed energy company with exploration and production assets
in Germany and USA today announces the following initial test results from its
TCEI JV Block A-1well on Block A at the Sugarloaf Project in Texas:
Since the last report the TCEI JV Block A-1 well was shut in for a pressure
build up test and then subsequently opened to flow. As of the latest report the
well was flowing to sales at approximately 0.50 mmcfgpd (million cubic feet gas
per day) with approximately 150 bcpd (barrels of condensate per day) and 20 bwpd
(barrels of water per day) with a FTP (Flow Tubing Pressure) of around 660 psi.
On the present day prices for condensate and gas whilst converting the
condensate to a gas equivalent, the most recent recorded equivalent gas flow
rate approximates (using a 10:1 conversion) 2.0 mmcfepd (million cubic feet gas
equivalent per day). The well has had an average equivalent flow rate above 2.0
mmcfepd for the past week, peaking at approximately 2.4 mmcfepd.
Commenting today, Empyrean Director - Tom Kelly said 'This well is flowing
nicely to sales. Importantly this well is flowing from about 900 feet of
perforations from a total 2700 feet of horizontal well. When the well is
stimulated it is likely the operator will add perforations as well as performing
multiple fracture stimulations with the aim of enhancing the flow rates'.
A further announcement will be made when the timing of the planned fracture
stimulation on this well is confirmed by the operator.
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
Tel: +44(0) 207 182 1746
Rod Venables / Cecil Jordaan
HB Corporate
Tel: +44(0) 207 510 8600
Jonathan Charles / Ed Portman
Conduit PR
Tel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509
This information is provided by RNS
The company news service from the London Stock Exchange
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