Empyrean Regulatory News (EME)

18 Oct 2007 07:53

Empyrean Energy PLC18 October 2007 18 October 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Sugarloaf Prospect, ("Sugarloaf"), Block B, Texas USA • Encouraging gas shows as Kennedy #1H well enters target zone Kennedy #1H Well----------------Empyrean Energy Plc advises that at 6am Texas time on 17 October, 2007 theKennedy #1H exploration well, located in the onshore Gulf Coast Basin in Texas,USA had reached a measured depth of 12,720 feet (3878 metres) and was cementingcasing. Since the last update, the well has been steered from vertical to horizontal inorder to track the target Austin Chalk upper zone, believed to correlate withthe producing zone in the nearby Sugarkane discovery well. Background gasincreased from around 40 units to about 100 units on entering the Ausitin Chalktarget zone. The commercial significance of the elevated gas background is notknown but is regarded as encouraging. As planned, casing is now being run beforethe planned final 4,850 feet (1273 metres) of the well is drilled within thenear horizontal target Austin Chalk upper zone, in order to evaluate the zoneand its productive potential. Sugarloaf-1 Well----------------The Operator has advised that preparations have commenced to re-frac and re-testthe deepest of the three zones of gas shows and log interpreted potential gaspay in the Cretaceous age Austin Chalk Formation. As a result of the reportedearly screen out when attempting to frac this zone last month, a revised fracdesign and program will now be adopted. Timing of the proposed fracturestimulation operation is subject to the availability of frac equipment andservices but is expected to take place as soon as these are available. Further updates will be provided following developments.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