Empyrean Energy PLC
29 September 2006
Empyrean Energy PLC
('Empyrean' or the 'Company'; Ticker: (EME))
Sugarloaf Hosston Prospect, Texas USA
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28 METRE POSSIBLE GAS PAY INTERSECTED IN SECONDARY TARGET
---------------------------------------------------------
AIM quoted Empyrean Energy PLC today announces that wire-line logs were
successfully run over the open hole section of the Sugarloaf-1 exploration well
between 6500 feet (1981metres) and the present well depth of 14,480 feet (4,413
metres).
Interpretation of the logs by the operator, Texas Crude Energy Inc, indicates a
92 feet (28 metres) zone of possible gas pay corresponding with the zone of gas
shows obtained during drilling in the secondary target.
The commercial significance of the log-interpreted possible pay can only be
assessed by flow testing and there is a risk that the zone may not flow at
commercial rates. Flow testing of the zone is not programmed at this time but
will be considered after the well has been drilled to total depth and the
primary target assessed.
The current operation at the well-site is the running of the 9-5/8 inch
intermediate casing to present depth of 14,480 feet (4,413 metres). Once run and
cemented, the operator will continue drilling in 8-1/2 inch diameter hole to the
primary target expected between approximately 17,000 feet (5,182 metres) and
proposed total depth of 21,000 feet (6,400 metres). There is a further secondary
target in carbonate rocks between present depth and just above the primary
target.
Assuming trouble-free drilling, the primary Hosston Formation target is expected
to be reached in mid to late October and total depth in mid November.
Executive Director, Tom Kelly, commented that 'the gas shows and wire-line
logging results are extremely encouraging from this secondary target and the
operator will now move to case the open hole in preparation for drilling ahead
towards the primary Hosston target'
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.
Please note that the lifting of the suspension of the share price will coincide
with the release of this announcement. Normal trading is to recommence
subsequent to the lifting of the suspension.
For further information:
Angus Prentice/Laurence Read
Conduit PR
Tel: +44 (0) 207 429 6603
Mob: +44 (0) 79974 982512
Empyrean Energy plc
Tel : +44 (0) 207 932 2442
Imran Ahmad/ Cecil Jordaan
HB-Corporate
Tel: +44(0) 207 510 8600
This information is provided by RNS
The company news service from the London Stock Exchange
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