Empyrean Regulatory News (EME)

14 Feb 2006 07:40

Empyrean Energy PLC14 February 2006 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Drilling update Eagle Oil Pool Development Project - California, USA AIM quoted Empyrean Energy PLC today announces the following update on the EagleNorth-1 well in California, USA. Victoria Petroleum NL as operator for the Eagle North-1 well has advised that at0900 hours on 14 February 2006, Perth, Australia Western Standard Time, EagleNorth-1 was at 4,178 metres depth in a new 9 7/8" sidetrack hole drilling aheadhaving intersected the target second Gatchell sandstone at 4,162 metres as perthe seismic prognosis. The target sand was circulated up with an increase in gas to a peak of 42 unitsover a background of 8 units at 4,167 metres accompanied by an increase inheavier C5 gases decreasing to background at 4,175 metres. No oil fluorescencewas seen in the samples which is to be expected as a result of the currentdrilling conditions using an overbalanced mud weight. Wireline logs are required to be run to evaluate the significance of the abovegas show and the oil bearing potential of the target Gatchell sand when the wellhas been drilled to its total depth of 4,220 metres which the operator expectsto be in the next 24- 48 hours. Executive Director Thomas Kelly states "The presence of pentane gas in the showsis very encouraging however we will wait for the results of wireline logs beforedeciding upon which zones to test". For further information Laurence Read/ Angus Prentice Conduit PRTel: +44 (0) 207 429 6603Mob: +44 (0) 7974 982 512 David Newton HB 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