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19 May 2008 07:03
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Prospect, ("Sugarloaf"), Block B, Texas USA
Empyrean, the AIM listed oil and gas explorer and producer with assets in Germany and USA today announces the following:
Kennedy #1 Well
Empyrean has been advised by Texas Crude Energy International (''TCEI''), the operator of Block B on the Sugarkane Gas and Condensate field, that the reservoir stimulation program on the Kennedy #1 well commenced on 14 May, 2008 with the hydraulic fracture stimulation (''frac'') of an approximately 600 feet long zone at the end of the horizontal section of the well.
The frac operation went according to plan and as at 6am Texas time on 18 May a total of 940 bbls of frac fluid had been recovered from the well with approximately 4,480 bbls still to be recovered. In addition to the frac fluid about 30 bbls of condensate and minor gas has also been recovered. The significance of the condensate and gas recoveries and the implication for potential flow rates will not be known until all frac fluids have been unloaded.
A completion rig arrived on site over the weekend to run production tubing which will facilitate the unloading process. This is likely to take several days.
Further updates will be provided following developments.
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
Tel: +44(0) 207 182 1746
Rod Venables / Cecil Jordaan
HB Corporate
Tel: +44(0) 207 510 8600
Jonathan Charles / Ed Portman
Conduit PR
Tel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509
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