Sugarloaf Production Update

RNS Number : 4399T

Empyrean Energy PLC

13 December 2012

 



13 December 2012

Empyrean Energy PLC

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

Sugarloaf Project, onshore Texas, USA

Production and Operations Update

Empyrean Energy, the AIM-listed explorer and producer with operations in the United States and its key project in the Eagle Ford Shale, is pleased to announce the following summary of 30 and 60 day production data and operations recently received for the Sugarloaf Project:

	Working Interest (%)	Total Gas Production (mmscf)	Total Condensate Production (bbls)	Average Daily Equivalent Oil Rate (boe/d)*
Luna Unit 2H - 60 day	3.0	117.5	42,684	1038
May Unit 1 2H - 60 day	3.0	103.3	40,649	964
Davila Graham 1H - 30 day	3.0	17.0	13,897	558
Davila Graham 2H - 30 day	3.0	12.5	16,335	614
Bailey Retzloff 1H - 30 day	3.0	75.0	17,957	1015
Bailey Retzloff 2H - 30 day	3.0	89.3	17,519	1080
Bailey Retzloff 3H - 30 day	2.9105	88.8	19,181	1133

*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 currently has a total of 63 wells in production at the Sugarloaf Project. In addition, there are currently two wells being drilled and a further three wells in the process of having completion / stimulation operations carried out.

Commenting today, Empyrean CEO Tom Kelly said, "These strong flow rates, in particular from the two wells reporting 60 day average rates are providing further encouragement."

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
                                                             Lionsgate Communications

Anita Ghanekar                                                            Jonathan Charles

Edward Mansfield                                                        [e-mail]

[phone]                                                 [phone]

Notes to Editors:

Empyrean Energy is an AIM-listed (Ticker: EME) oil and gas exploration and production company focused in the Eagle Ford shale, Texas, USA. Other assets include a 10% working interest in the Riverbend Project, Texas, just south of the prolific Bookeland Field (Austin Chalk) as well as a 48.5% interest in the Eagle Oil Pool Development Project located in the San Joaquin Basin, southern California.

Empyrean's portfolio includes interests in 63 producing wells at the Sugarloaf Project, Texas. In addition, there are currently two wells being drilled and a further three wells in the process of having completion/ stimulation operations carried out.

 

END

 

 

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