Empyrean Regulatory News (EME)

30 Nov 2005 07:00

Empyrean Energy PLC30 November 2005 Empyrean Energy Plc (Ticker:"EME")("Empyrean" or "the Company") Commencement of Drilling at Glantal Gas Project, Germany AIM quoted Empyrean Energy PLC today announces commencement of drilling at theGlantal-1 well. The Glantal-1 well is the first well to be drilled as part ofthe Glantal Gas Project within the Neues Bergland permit in South West Germany.Empyrean has the right to earn up to a 52% working interest in the NeuesBergland permit. Pannonian International Ltd ("Pannonian"), a wholly owned subsidiary ofU.S.-based Galaxy Energy Corporation (OTC BB: GAXI) are the Operator of theproject and have advised that drilling through the conductor pipe commenced onNovember 29th. The Neues Bergland permit is located close to Frankfurt in Germany and containsthe Pfalzer Anticline which is a 515 square kilometre structure containing deepanthracitic coal beds. The coal beds, too deep to mine economically, have beenestimated by an independent expert to have generated several hundred trillioncubic feet ("TCF") of gas, with a recoverable gas potential of up to 6.2 TCF inthe first drilling prospect alone. The primary objective of the Glantal-1 well is to test seal integrity ofsediments that overlay the massive Pfalzer Anticline and then assess thepotential entrapment of gas in three targeted thrust sheets that have beeninterpreted to host potential gas reservoirs. It is anticipated that the fulldrilling program will take approximately forty five days to reach total depthwith testing of the three targeted thrust sheets and results available in Q12006. Commenting, from the Glantal-1 well drill site, Chris Lambert, ExecutiveDirector, said: "As we clearly stated on admission to AIM, testing the sealintegrity at Glantal-1 in Germany is of prime importance to the project. It isnot often that a small company, such as Empyrean, gets the chance to drill aprospect with the potential rewards the Glantal Gas Project offers. In additionto today's news Empyrean continues to develop it's portfolio in the UnitedStates as we work to appraise the Eagle Oil Pool Development Project inCalifornia with drilling scheduled for late December or early January." Laurence ReadConduit PR plcTel: +44 (0) 207 618 8760Mob: +44 (0) 7979 955 923 David NewtonHB CorporateTel: +44(0) 207 510 8600 Chris LambertEmpyrean EnergyTel : +44(0) 207 932 2442 This information is provided by RNS The company news service from the London Stock Exchange