Last checked at 15 Nov 2012 07:30
15 November 2012
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Project : Onshore Texas, USA
Production and Operational Update
Production
The following is a summary of 30 and 60 day production data recently received for the following wells at the Sugarloaf Project:
Working Interest | Total Gas Production (mmscf) | Total Condensate Production (bbls) | Average Daily Equivalent Oil Rate (boe/d)* | |
Luna Unit 2H - 30 day | 3.0% | 56.1 | 21,479 | 1028 |
May Unit 1 2H - 30 day | 3.0% | 56.7 | 23,480 | 1098 |
Gilley Unit 2H - 60 day | 3.0% | 59.5 | 26,128 | 601 |
Davila 1H - 60 day | 3.0% | 167.1 | 35,979 | 1064 |
Davila 2H - 60 day | 3.0% | 168.7 | 37,052 | 1086 |
Forshage Howell 1H - 60 day | 3.0% | 158.6 | 31,846 | 971 |
Forshage Howell 2H - 60 day | 3.0% | 160.5 | 33,295 | 1001 |
Forshage Howell 3H - 60 day | 3.0% | 151.3 | 30,221 | 924 |
Imperial Unit 1H - 60 day | 3.0% | 160.6 | 43,626 | 1173 |
Imperial Unit 2H - 60 day | 3.0% | 70.7 | 41,275 | 884 |
St Germain Imperial Unit 1H - 60 day | 3.0% | 51.9 | 35,813 | 741 |
St Germain Imperial Unit 2H - 60 day
| 3.0% | 127.3 | 37,839 | 984
|
\* The wells have had the Average Daily Equivalent Oil Rate recalculated on a simple 6:1 basis.
Further production results will be released as they come to hand.
Operations
Empyrean currently has 55 wells in production in total at the Sugarloaf Project. In addition there are currently 3 wells being drilled and a further 4 wells in the process of having completion/ stimulation operations carried out.
Commenting today, Empyrean CEO - Tom Kelly stated, "Empyrean is encouraged by these latest 30 and 60 day production updates. The fundamental data coming through is strong and shows improvement in some wells. We are mindful of the time that the updated Reserve Report is taking and we are working through outstanding issues with a view to being able to update shareholders in the short term."
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