Empyrean Regulatory News (EME)

22 Feb 2007 07:47

Empyrean Energy PLC22 February 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Project Margarita, Gulf Coast Texas USA, shallow gas exploration drilling program • Milagro # 1 well encounters potential oil pay. AIM quoted Empyrean Energy PLC today advises that the Milagro # 1 well, thesecond in the shallow drilling program, reached total depth and wirelinelogging operations commenced at approx. 9:00 PM WST February 20, 2007. Wireline log operations, including sidewall cores were conducted over aperiod of 20 hours. Initial interpretation indicates there is potential oilpay of approximately 4.3 meters (14 feet) within the target sands. Preparations will commence immediately for the well to be cased with 4 1/2inch production liner using the current rig in anticipation for completionand production testing. An update will be provided as the timing for theproduction test becomes certain. El Viejito #1, the 1st well in the Margarita shallow drilling program, iswaiting on testing equipment to arrive at the well site in order to test thepotential previously announced gas pay interpreted from wireline logoperations. Participants interests on completion of each of the wells in the programare: *Empyrean Energy PLC 44.00%# Sun Resources NL 20.00%#Victoria Petroleum NL 20.00%Wandoo Energy LLC (operator) 16.00% ------- 100.00% # ASX listed* AIM listed 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) 207 182 1746 Rod Venables/ 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