RE: 10 bagger mentioned by big investors25 Mar 2025 23:31
Empyrean Energy plc provided an update on the Wilson River-1 well. The Wilson River-1 well has reached total depth ("TD") of 1,464 m. Following reaching TD, open hole quad combo logs were acquired to measure multiple formation properties and reservoir characteristics. Based on preliminary log analysis and hydrocarbon shows, including approximately 6m of potential gross oil zone in one of the main target reservoirs, 7-inch production casing has been run into hole and cemented to a depth of 1,459.6 m. The well has been cased and suspended whilst expert petrophysical analysis is completed and the results are compared with existing producing wells nearby to better define a testing and completion regime.
The rig is on standby on location at no cost whilst the testing program is decided upon. The petrophysical analysis is expected to be concluded within one week and a further announcement will be made regarding this further analysis and the agreed testing program in due course.