Empyrean Regulatory News (EME)

25 Jun 2007 08:51

Empyrean Energy PLC25 June 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Project Margarita, Gulf Coast Texas USA --------------------------------------- AIM quoted Empyrean Energy PLC today announces the following update with regardsthe drilling program at Margarita: 1. AGAVERO PROSPECT The operator of the Agavero #1 well has advised that the well spudded on 21 June and is currently drilling ahead at 2,272 feet (693 metres) to target and final depth of 3,500 feet (1,341 metres). 2. DONA CARLOTA PROSPECT It is expected that production testing of the Dona Carlota #1 well will commencelater this week. Some delays have occurred due to bad weather. Interpretation of wire line logs of the target Frio 1.33 sand in the DonaCarlota #1 well indicate a gross gas zone of 13.9 metres and net gas pay of 5.6metres over the interval 1,423.2 to 1,437.1 metres with gas on rock and nowater. As with the successful initial three well program, tie in of any commercialdiscovery made on these prospects will be rapid as the project area is crossedby a number of gas pipelines with access rights and available capacity. The prospects have the following mean recoverable gas reserve potential andtotal depths; Prospect Name Mean Rec Reserves Total Depth StatusDona Carlota 0.62 bcf 1,524 m Drilled gas discoveryAgavero 0.70 bcf 1,340 m DrillingClimaco 1.60 bcf 1,980 m To be drilled Participants in the Margarita Project are:Empyrean Energy PLC* 44.00%Sun Resources NL# 20.00%Victoria Petroleum NL# 20.00%Wandoo Energy LLC + 16.00%Total: 100.00% # ASX listed* AIM 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: Charlie Geller/ 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