Empyrean Regulatory News (EME)

21 Dec 2006 07:55

Empyrean Energy PLC21 December 2006 ("Empyrean" or the "Company"; Ticker: (EME)) Project Margarita, Gulf Coast Texas USA --------------------------------------- COMMENCEMENT OF SHALLOW DRILLING PROGRAM ON PROJECT MARGARITA, USA Empyrean has been advised that drilling has commenced on the El Viejito Prospecton Project Margarita, South Texas, USA. El Viejito #1 is the first of a sixwell, back to back, drilling program on shallow gas prospects (less than 2,000metres depth) with up to 8 to 10 billion cubic feet ("BCF") of gross potentialoutcome. The shallow prospects to be drilled are analogues of historic prolific Frio andVicksburg sands production in the project area at less than 2,000 meters depth.This program is a precursor to commencement of a drilling program on moresubstantial individual deep 30 to 200 BCF gas potential prospects forecast tocommence mid year 2007. Operations on El Viejito #1 at 07.00 hours Australian WST, Thursday 21 December2006, was running 8 5/8" surface casing at 630 feet (192 metres) in verticalhole. On completion of this operation a Christmas break will ensue and it isplanned to drill ahead on December 26th in 7 5/8" hole to basal Frio andVicksburgh targets and final depth of 6,200 feet (1,920 metres) where the holewill be logged and a decision will be made to run 4 1/2" casing and test targetzones of interest. A further update will be made on completion of the well inthe New Year. Participants interests on completion of each of the wells in the program are: *Empyrean Energy PLC 44.00%# Sun Resources NL 20.00%# Victoria Petroleum NL 20.00% Wandoo Energy LLC 16.00% 100.00%* AIM listed# ASX listed+ USA Private Interest" 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 Laurence Read/ Ed Portman Conduit PR Tel: +44 (0) 207 429 6605/ +44 (0) 7979955923 Empyrean Energy plc Tel : +44(0) 207 932 2442 Imran Ahmad/ Cecil Jordaan HB Corporate Tel: +44(0) 207 510 8600 This information is provided by RNS The company news service from the London Stock Exchange