Empyrean Share News (EME)

The pace of development at Block B at Empyrean Energy’s Sugarloaf Project in Texas, USA is picking up.Planning and preparatory work has started on the three existing horizontal wells in Block B.The operator of the block, Texas Crude Energy Incorporated (TCEI) has indicated that the major part of the scheduled work programme will probably start in November 2009, though the actual start time is subject to the availability of rigs and equipment.‘Whilst this programme of work remains subject to change, it does represent a significant acceleration of activity on Block B over the coming months,’ Empyrean Energy said. The USA’s fourth largest private exploration and production oil company, Hilcorp Energy, which signed a farm-in deal with Empyrean on the Sugarloaf project in September, is planning to drill up to seven additional wells targeting the same play in adjacent acreage and this, together with drilling scheduled in the area by competitors, is likely to improve the company’s understanding and evaluation of the prospects of the Block B asset, the company.