Empyrean Energy PLC
30 September 2005
Empyrean Energy PLC ('Empyrean' or 'the Company'; Ticker: (EME)
30 September 2005
Update- Glantal Natural Gas Project, Germany
Drill site preparation and access road complete Gas exploration drilling
expected to commence Q4 2005
Empyrean Energy PLC, the AIM quoted energy developer operating in low risk
regions, today announces that drilling preparations, commenced in late August,
at the Glantal prospect in Germany are now complete. The Glantal-1 well to be
drilled on the Neues Bergland permit is operated by one of Empyrean's partners
Pannonian International Ltd ('Pannonian'), a wholly owned subsidiary of
U.S.-based Galaxy Energy Corporation (OTC BB: GAXI). Pannonian has confirmed
that the key preparatory work, including the access road and drill site
construction, is now complete and that drilling operations will commence shortly
after the rig arrives on site.
The drilling rig contracted to drill Glantal-1 is presently in the final stages
of a pre-existing contract and is on target to reach the Glantal-1 site during
October 2005. Drilling is expected to commence approximately 10 days after the
rigs arrival at site.
Results from the first drilling campaign at the Glantal prospect are still on
schedule for Q4 2005 as previously stated.
Empyrean has been quoted on AIM since July of this year and is focused on energy
resource exploration and development in geopolitically stable environments. The
Company has acquired the rights to earn up to a 52% working interest in the
Neues Bergland permit, a substantial fractured reservoir natural gas exploration
project in Germany.
The Neues Bergland permit is located close to Frankfurt in Germany and contains
the Pfalzer Anticline which is a 515 square kilometre structure containing deep
anthracitic coal beds. The coal beds, too deep to mine economically, have been
estimated by an independent expert to have generated several hundred trillion
cubic feet ('Tcf') of gas, with a recoverable gas potential of up to 6.2 Tcf in
the first drilling prospect alone.
Empyrean will test a minimum of three large potential pay-zones at different
depths over the first drilling prospect with drilling of the Glantal-1 well.
Independent geological analysis has calculated the smallest of these zones has
the potential to hold a recoverable 1.2 Tcf of gas. The first drilling programme
will test the seal integrity, an important factor at Glantal-1.
After drilling the Glantal-1 well the Company will have approximately £1.7
million available to commence development of a discovery, continue exploration
and assess other opportunities.
Commenting today Chris Lambert, Executive Director, said: 'The Company is
pleased that all is in readiness for the first drilling campaign at the Glantal
prospect, with results due before the end of the year, as we have always aimed
for. With strong gas prices in Germany and demand increasing due to existing
government policies requiring the reduction of nuclear and coal powered
electricity generation the Company is excited by the prospect of a commercial
discovery in an energy hungry market...'
Laurence Read/Amanda Harris David Newton Chris Lambert
Conduit PR HB-Corporate Empyrean Energy plc
Tel: +44 (0) 207 618 8760 Tel: +44(0) 207 510 8600 Tel : +44(0) 207 932 2442
Mob: +44 (0) 7979 955 923
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