Empyrean Regulatory News (EME)

27 Apr 2006 08:23

Empyrean Energy PLC27 April 2006 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Drilling Update • Further oil shows encountered whilst drilling at Eagle North-1 in California, USA. • Increased total gas reading associated with the oil shows. AIM quoted Empyrean Energy PLC today announces the following update on the EagleNorth-1 well, California, USA: Victoria Petroleum NL as operator for the EagleNorth-1 horizontal well in the Eagle Oil Pool Development Project in the SanJoaquin Basin advises that at 1830 hours Central Pacific Time 26 April 2006, thecurrent operation at Eagle North-1 horizontal well was preparing to drill aheadin 4 1/8 inch hole in the horizontal well bore at 4,308 metres (14,132 feet)measured depth (md kb) in the lower Mary Bellocchi Gatchell oil sand afterencountering further good oil shows in the target sand from 4,297 metres (14,097feet) to current depth of 4,308 metres (14,132 feet). The well bore is currentlyat an angle of 89.7 degrees from the vertical. The operator has advised that the oil show in the target sands was accompaniedby the inflow of oil into the well bore on a flow check as seen from good yellowoil fluorescence in the oil cut drilling mud and an increase in total gas from abackground of 2 units to a maximun of 550 units with associated heavierhydrocarbons. The operator has also advised that the increase in drill rate from 8 ft/hr to 70ft /hr indicates friable and porous sand at this vertical depth of 13,622ft TVDKB. The forward plan is to increase the drilling mud weight (depending on formationproperties encountered) and drill ahead in the target Gatchell oil sand over adistance of approximately 320 metres until the planned measured depth of 4,600metres (15,090 feet) is reached. As planned the horizontal well bore will then be completed for productiontesting with a 2 7/8 inch slotted production liner. A further update will be made as information becomes available. Executive Director - Tom Kelly commented "We are again pleased to see this typeof oil show, with associated total gas increases, prior to reaching our plannedtotal measured depth and setting production liner." The information contained in this announcement has been 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 PR Tel: +44 (0) 207 429 6603 Mob: +44 (0) 7974 982 512 Toby HowellHB-CorporateTel: +44(0) 207 510 8600 Empyrean Energy plcTel : +44(0) 207 932 2442 This information is provided by RNS The company news service from the London Stock Exchange