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Last checked at 
10 Nov 2009 07:00
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10thΒ NovemberΒ 2009
Empyrean Energy PLC
('Empyrean'Β or theΒ 'Company',Β (EME))
Riverbend Project, onshore Texas, USA.
Quinn 3H encounters multiple significant gas flares whilst drilling.
Including multiple flares over 100 feet in height and one over 200 feet.
Operator drilling ahead.
Empyrean Energy PlcΒ is pleased to announceΒ that it has been advised by KrescentΒ Energy Company LLC ("Krescent"), the operator of the Riverbend Project in Texas, thatΒ drilling had progressed to a measured depth of 16,383 feet from a vertical depth of 15,054 feet.Β
SinceΒ "spudding"Β of the wellΒ on the 2ndΒ September 2009, Krescent has successfully prepared the well forΒ horizontalΒ drilling, including running a cement bond log. This bond logΒ necessitated remedial operations which were completed successfully.Β AΒ windowΒ was then milled in the casingΒ in order to horizontally drill ahead to theΒ currentΒ measured depth.
During drilling,Β multipleΒ fractures have been encountered that have all exhibited significant gas flares and influx of gas into the drilling mud.Β Although highly encouraging, these gas kicks require extremeΒ operationalΒ caution and necessitate drilling to be momentarily stoppedΒ whilst the gas that has invaded the drilling mud is circulated out of theΒ well.Β
The number and significance of the fractures and flares have exceeded the operator's expectation for the footage of horizontal drilledΒ upΒ to this point. This is positive and is beingΒ analysedΒ further to decide upon how much further to drill ahead. NoΒ decision has been made on this, however it is highly likely that it will not be necessary to drill the planned 5000 feet of horizontal.
Further announcementsΒ will be madeΒ as significant developments occur.Β No conclusions should be drawn from the observations to date,Β until drilling operations have completed and the well has been production tested.
Contact:
Tom Kelly Empyrean Energy Plc Tel:Β +618 93216988
Nominated Adviser and Broker:
Jerry Keen AstaireΒ Securities Plc Tel:Β +44 (0)Β 20 7448 4400Β
Shane Gallwey AstaireΒ Securities Plc Tel: +44 (0) 20 7448 4400
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