Empyrean Regulatory News (EME)

29 Sep 2006 10:35

Empyrean Energy PLC29 September 2006 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Sugarloaf Hosston Prospect, Texas USA ------------------------------------- 28 METRE POSSIBLE GAS PAY INTERSECTED IN SECONDARY TARGET --------------------------------------------------------- AIM quoted Empyrean Energy PLC today announces that wire-line logs weresuccessfully run over the open hole section of the Sugarloaf-1 exploration wellbetween 6500 feet (1981metres) and the present well depth of 14,480 feet (4,413metres). Interpretation of the logs by the operator, Texas Crude Energy Inc, indicates a92 feet (28 metres) zone of possible gas pay corresponding with the zone of gasshows obtained during drilling in the secondary target. The commercial significance of the log-interpreted possible pay can only beassessed by flow testing and there is a risk that the zone may not flow atcommercial rates. Flow testing of the zone is not programmed at this time butwill be considered after the well has been drilled to total depth and theprimary target assessed. The current operation at the well-site is the running of the 9-5/8 inchintermediate casing to present depth of 14,480 feet (4,413 metres). Once run andcemented, the operator will continue drilling in 8-1/2 inch diameter hole to theprimary target expected between approximately 17,000 feet (5,182 metres) andproposed total depth of 21,000 feet (6,400 metres). There is a further secondarytarget in carbonate rocks between present depth and just above the primarytarget. Assuming trouble-free drilling, the primary Hosston Formation target is expectedto be reached in mid to late October and total depth in mid November. Executive Director, Tom Kelly, commented that "the gas shows and wire-linelogging results are extremely encouraging from this secondary target and theoperator will now move to case the open hole in preparation for drilling aheadtowards the primary Hosston target" 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. Please note that the lifting of the suspension of the share price will coincidewith the release of this announcement. Normal trading is to recommencesubsequent to the lifting of the suspension. For further information: Angus Prentice/Laurence Read Conduit PR Tel: +44 (0) 207 429 6603 Mob: +44 (0) 79974 982512 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