Empyrean Regulatory News (EME)

1 Nov 2007 07:59

Empyrean Energy PLC01 November 2007 1st November 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Sugarloaf Block A, Texas USA • TCEI JV Block A # 1 well being prepared for testing to commence • TCEI JV Block A # 2 well reaches total depth • Gas shows (# 2) correlate with the shows seen in the Sugarloaf-1 well on Block BEmpyrean, the AIM listed oil and gas company with exploration and production assets in Germany and USA today announces the following regarding Sugarloaf Block A in Texas: TCEI JV Block A-1 Well ----------------------The operator of Block A is preparing the TCEI JV Block A-1 well for fracturestimulation and testing. As previously reported, this well encountered gas shows and gas flares duringdrilling - including a 600 foot zone with a constant gas flare. A further update will be provided when the exact timing for this testing becomesclear. TCEI JV Block A-2 Well----------------------Empyrean has been advised by Texas Crude Energy Inc that the TCEI JV Block A #2well has reached a total depth of 12,032 feet and production casing has beenrun. The vertical well encountered gas shows that correlate with the gas shows seenin the Sugarloaf-1 well on Block B. It is understood that this well will be used to monitor the testing of the TCEIJV Block A-1 horizontal well and then subsequently tested. Further updates will be provided as the timing for testing operations isconfirmed. Proposed TCEI JV Block A-3 Well-------------------------------Empyrean has agreed to participate in the drilling of a further well on Block A,the TCEI JV Block A-3 well. This well will be part of the recently announced 16well program and as with the previous two wells on this Block, Empyrean willhave a 7.5% working interest in this well. The well will be a horizontal welltargeting the shallow zone that correlates to the production from the discoverywell nearby. Empyrean director, Tom Kelly commented "This third well following the Block Aoperator's discovery well earlier this year is a clear indication that theoperator has a high degree of confidence in the shallow zone that they haveproduction from. We look forward to the results from this well and eagerly awaittesting to commence on the previous two wells". The information contained in this announcement was completed and reviewed by theTechnical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who hasover 40 years experience as a petroleum geologist. For further information: Jonathan Charles / Ed PortmanConduit PRTel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509 Rod Venables / Cecil JordaanHB CorporateTel: +44(0) 207 510 8600 Empyrean Energy plcTel : +44(0) 207 182 1746 This information is provided by RNS The company news service from the London Stock Exchange