Empyrean Regulatory News (EME)

30 Apr 2008 08:10

Empyrean Energy PLC30 April 2008 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Sugarloaf Block A, Texas USA ---------------------------- - TCEI JV Block A-1 well continues to flow at commercial rates direct to sales line. Empyrean, the AIM listed energy company with exploration and production assetsin Germany and USA today announces the following initial test results from itsTCEI JV Block A-1well on Block A at the Sugarloaf Project in Texas: Since the last report the TCEI JV Block A-1 well was shut in for a pressurebuild up test and then subsequently opened to flow. As of the latest report thewell was flowing to sales at approximately 0.50 mmcfgpd (million cubic feet gasper day) with approximately 150 bcpd (barrels of condensate per day) and 20 bwpd(barrels of water per day) with a FTP (Flow Tubing Pressure) of around 660 psi. On the present day prices for condensate and gas whilst converting thecondensate to a gas equivalent, the most recent recorded equivalent gas flowrate approximates (using a 10:1 conversion) 2.0 mmcfepd (million cubic feet gasequivalent per day). The well has had an average equivalent flow rate above 2.0mmcfepd for the past week, peaking at approximately 2.4 mmcfepd. Commenting today, Empyrean Director - Tom Kelly said "This well is flowingnicely to sales. Importantly this well is flowing from about 900 feet ofperforations from a total 2700 feet of horizontal well. When the well isstimulated it is likely the operator will add perforations as well as performingmultiple fracture stimulations with the aim of enhancing the flow rates". A further announcement will be made when the timing of the planned fracturestimulation on this well is confirmed by the operator. 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: Empyrean Energy plcTel: +44(0) 207 182 1746 Rod Venables / Cecil JordaanHB CorporateTel: +44(0) 207 510 8600 Jonathan Charles / Ed PortmanConduit PRTel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509 This information is provided by RNS The company news service from the London Stock Exchange