Empyrean Regulatory News (EME)

19 Mar 2007 11:16

Empyrean Energy PLC19 March 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Project Margarita, Gulf Coast Texas USA, shallow gas exploration drilling program--------------------------------------------------------------------------------- AIM quoted Empyrean Energy PLC today advises that the first three wells of thesix well shallow drilling program ( < 2,000 metres depth) on Project Margarita,South Texas, USA, have been technical successes, with El Viejito #1 and DosDedos #1 being gas discoveries and Milagro #1 being an oil discovery. However, due to winter rains in the last two weeks, inclusive of 8" of rain inone day, all sites are currently inaccessible until late next week to resumecompletion operations, ie Dos Dedos #1 is still awaiting testing and Milagro #1connection to a sales line to sell the volatile oil (gas) being produced whichshould change to oil in a short time period. The El Viejito #1 well will nolonger be connected to a sales line as further testing resulted in water coningof the gas reservoir due to the vertical permeability of the reservoir. Furtherwell updates will be given when results come to hand. The final three wells of the six shallow well drilling program on ProjectMargarita with similar potential outcome as the first three are expected tocommence in mid to late April 2007. All of the shallow prospects being drilled are analogues of historic prolificFrio and Vicksburg sands production in the project area at < 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 in the secondhalf of 2007. 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 (operator) 16.00%Total: 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 PortmanConduit PRTel: +44 (0) 207 429 6605/ +44 (0) 7979955923 Empyrean Energy plcTel : +44(0) 207 182 1746 Rod Venables/ Cecil JordaanHB CorporateTel: +44(0) 207 510 8600 This information is provided by RNS The company news service from the London Stock Exchange