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Sugarloaf Production Update

15 Nov 2012 07:30

RNS Number : 1918R
Empyrean Energy PLC
15 November 2012
 

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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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