Empyrean Regulatory News (EME)

31 Mar 2006 08:52

Empyrean Energy PLC31 March 2006 31 March 2006 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Drilling UpdateAIM quoted Empyrean Energy PLC today announces the following update on the EagleNorth-1 well, California, USA: Victoria Petroleum NL as operator for the Eagle North-1 well has advised that atat 0600 hours Central Pacific Time today, that current operations at the EagleNorth-1 horizontal well was tripping at 4,032 metres (13,230 feet) to change thedrill bit and bottom hole assembly to drill ahead after having milled a newwindow in the casing at 4,028 metres (13,215 feet) and drilled new formation to4,032 metres (13,230 ft). An evaluation of the drilling difficulties previously experienced have resultedin a revision of the horizontal drilling plan and the adoption of a conservativemedium radius curve to achieve the horizontal well path into the target oilsands. This has required a new horizontal well to commence from a measured depth of4,028 metres (13,215 feet) in the vertical Eagle North-1 well bore. Further technical details are in the annexure to this announcement. A further update will be made as information becomes available. Executive Director - Tom Kelly commented "This is a very exciting time for ourcompany and we hope that testing can proceed smoothly from here as the delayshave been due to mechanical problems and do not diminish the technical merit ofthe project." The information contained in this announcement and annexure was completed andreviewed by the Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc(Hons) who has over 40 years experience as a petroleum geologist. For further information Laurence Read/ Angus Prentice Toby Howell ChrisLambertConduit PR HB-Corporate Empyrean Energy plcTel: +44 (0) 207 429 6603 Tel: +44(0)207 510 8600 Tel : +44(0) 207 932 2442Mob: +44 (0) 7974 982 512 Annexure Using a less severe curve approach, which was successful in achieving ahorizontal well path in the previous Eagle-1 well, it is believed that theobjective of completing an oil producing horizontal well in the oil bearingsands between Eagle North-1 and Mary Bellochi-1 will be achieved. During the drilling of the horizontal well a 41/2 inch liner is planned to berun as an intermediate step to case off the Kreyenhagen shale at a measureddepth of 4,252 metres (13,950 feet). With the setting of the Kreyenhagen Shale behind the 41/2 inch liner theGatchell target oil sands will be drilled with a normal pressured water basedKCL-Clarizan mud minimising formation invasion and maximing the evaluation ofthe oil bearing potential of the oil sand. Following setting of the intermediate 41/2 inch liner which will put theKreyenhagen Shale behind pipe, a 3 3/4 inch horizontal well bore will then bedrilled over a distance of 320 metres to within 30 metres of the MaryBellocchi-1 oil well. This horizontal well bore will then be completed forproduction with a 2 7/8 inch slotted production liner. This information is provided by RNS The company news service from the London Stock Exchange