Sugarloaf Block B Update

RNS Number : 7853E

Empyrean Energy PLC

01 October 2008

 



1 October 2008

Empyrean Energy PLC 

('Empyrean' or the 'Company'; Ticker: (EME))

Sugarloaf Prospect, ('Sugarloaf'), Block B,  Texas USA

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA provides the following update on operations on Block B which is part of the Sugarkane Gas and Condensate Field:

Kowalik #1H Well 

Empyrean has been advised by the operator, Texas Crude Energy Inc ('TCEI'), that at 06:00hrs on the 30/09/08 (US CST) the well had been drilled to a measured depth of 15,239 ft, which equates to approximately 3,500 ft of horizontal section within the Austin Chalk. The operator is currently tripping out of hole to assess the drilling assembly.

Since the last report the well has produced gas intermittently when drilling, with larger flares observed following periods of shut in when tripping to change components of the drilling assembly.  The surface gas readings have averaged 1,500 units during this section. More significant gas flares including a 45-55 ft flare have been observed while drilling prior to pulling out of the hole.

Whilst encouraging the commercial significance of these gas shows and flares will not be known until the well has been flow tested.

The horizontal section is targeting the upper pay interval that has been reported as successfully producing gas and condensate in Block A (TCEI JV Block A-1 and A-3 wells).

Empyrean has a working interest of 18% in this well.

Further updates will be provided following developments.

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

Tel: [phone] 

Blue Oar Securities Plc

Olly Cairns / Jerry Keen

Tel: [phone] 

Jonathan Charles / Sarah Alexander

Conduit PR 

Tel: [phone] 

 

END

 

 

DRLFSDSIFSASELS