Empyrean Regulatory News (EME)

21 Mar 2006 11:27

Empyrean Energy PLC21 March 2006 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Projects UpdateAIM quoted Empyrean Energy PLC today announces the following update on itsprojects: Eagle Oil Pool Development Project, California USA. Victoria Petroleum NL as operator for the Eagle North-1 well has advised that at0900 hours on 21 March Perth Standard Time operations were drilling ahead, with5 7/8 bit using a directional tool at a measured depth of 4131 metres (13552ft). The operator has advised that a series of down hole mechanical problems with themud motor and MWD tool coupled with some mud circulation issues had delayed thedrilling operations. Forward operations involve the completion of the radius of the drill curve inorder to drill an approximate 300 metre horizontal well into the best inferredpay of the target Gatchell sands. The operator expects to intercept the targetlower Gatchell sand at a true vertical depth of 4147 - 4149 metres (13606-13612ft). Glantal Gas Project, Germany. FMI log analysis by an independent consultant has now been completed. Theinterpretation confirms a number of intervals that have natural fractures,essential for effective reservoir in this prospect. These intervals have alsobeen ranked in order of interpreted flow potential. This data is now beingcorrelated to all other log data collected to prioritise zones for testing, withcompletion of this process expected within the coming weeks. The operator isconcurrently sourcing a completion rig to carry out the testing program. During drilling, effective seal quality lithology was intercepted. Further news on the proposed testing program is expected within the comingweeks. A further update on both projects will be made as information becomes available. 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 Laurence Read/ Angus PrenticeConduit PRTel: +44 (0) 207 429 6603Mob: +44 (0) 7974 982 512 Toby HowellHB CorporateTel: +44 (0) 207 510 8600 Chris LambertEmpyrean Energy plcTel : +44(0) 207 932 2442 This information is provided by RNS The company news service from the London Stock Exchange