Last checked at 29 May 2013 08:30
29 May 2013
Empyrean Energy PLC
('Empyrean' or the 'Company', (AIM: EME))
Operations Update: Riverbend Project, onshore Texas
Cartwright-1H well recompletion
Empyrean Energy (AIM: EME), the onshore US condensate and gas exploration & production company, is pleased to report that early results from the recompletion of the Cartwright-1H well in the Wilcox interval have been successful and in line with or better than expectations. The well has been turned to sales and is producing gas and oil (condensate). Empyrean holds a 10% Working Interest in the Riverbend Project and Cartwright-1H well.
The well produced an average of 745,000 cubic feet of gas per day ("cfgpd") with 40 barrels of oil per day ("bopd") for the first 7 days production post testing and an average of 755,000 cfgpd with 37 bopd for the first 14 days of production post testing.
The early oil production is in line with expectations (30-40 bopd) and the early gas production is above expectations (200,000 -250,000 cfgpd).
The choke setting is currently 12/64 with approximately 10 barrels of water being produced per day with the hydrocarbons.
Empyrean will make further announcements to update in due course as a greater production profile is achieved and the operator notifies Empyrean of future development planning.
Commenting today, Empyrean CEO, Tom Kelly said, "These early results are very encouraging for the initial recompletion goal of achieving economically viable production from the Cartwright-1H well."
The information contained in this announcement was completed and reviewed 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
Empyrean Energy plc
Tom Kelly
+618 9480 0111
Shore Capital
Anita Ghanekar
Edward Mansfield
+44 (0) 207 408 4090
Jonathan Charles
Lionsgate Communications
E: jcharles@lionsgatecomms.comM: +44 (0)7791 892509
www.lionsgatecomms.com
Notes to Editors:
Empyrean Energy Plc is an AIM-listed (Ticker: EME) condensate and gas exploration and production company focused on the Eagle Ford Shale, Texas, USA. Other assets include a 10% working interest in the Riverbend Project, Texas, just north of the prolific Brookeland Field (Austin Chalk) as well as a 57.2% interest in the Eagle Oil Pool Development Project located in the San Joaquin Basin, southern California.
Empyrean's portfolio includes an interest in over 85 producing wells with scaleable growth potential from further development and exploration upside.