Sugarloaf Production Update

RNS Number : 2493K

Empyrean Energy PLC

17 August 2012

 

17 August 2012

Empyrean Energy PLC

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

Sugarloaf Project : Onshore Texas, USA

Production and Operational Update

Production

The following is a summary of 30 and 60 day production data recently received for the following wells at the Sugarloaf Project:

	Working Interest	Total Gas Production (mmscf)	Total Condensate Production (bbls)	Average Daily Equivalent Oil Rate (boe/d)*
Tipton Jonas 1H - 60 day	1.4848%	31.4	26,985	537
Brysch Jonas B 1H - 60 day	0.3553%	21.9	39,540	720
Brysch Jonas C 1H - 60 day	1.0340%	31.7	20,922	437
Brown Dupnik 1H - 60 day	2.7128%	35.5	28,852	579
Franke Johnson 2H - 30 day	3.0%	10.5	9,358	370
Olson Esse 1H - 60 day	3.0%	120.6	14,833	582
Olson Esse 2H - 60 day	3.0%	107.9	19,293	621

*The wells have had the Average Daily Equivalent Oil Rate recalculated on a simple 6:1 basis.

Further production results will be released as they come to hand.

Operations

Empyrean has commissioned an independent reserve assessment and is likely to include data for July and August in the reserve assessment. It is expected that this will take slightly longer, but the bulk of the modelling will have been done and the additional data is expected to enhance the report numbers due to the level of activity underway.

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]

 

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