Last checked at 17 Mar 2010 07:38
17th March 2010
Empyrean Energy PLC
('Empyrean' or the 'Company', (EME))
Sugarloaf Project, Block B, onshore Texas, USA.
Empyrean Energy Plc is pleased to provide the market with the following update of operations on Block B at the Sugarloaf Project:
Easley-1H
The first new well under the farm-in agreement with Hilcorp Energy has reached a depth of 15,593 ft and a production casing string has now been run and cemented in preparation for a staged fracture stimulation. The well has approximately 3,000 ft of horizontal section within the reservoir and is in a similar location to the Weston-1 well. The drilling rig is presently being demobilised off location. The Operator will in due course undertake fracture stimulation operations on this well and it will then be flowed to sales.
Morgan-1H
The well has been drilled to a depth of 12,664 ft and the well path has built angle to approximately horizontal within the reservoir section. Preparations are presently underway to commence the horizontal section of the well.
Kennedy-1H and Weston-1H
Both wells continue to produce to sales in line with expectation. Further production guidance will be provided once trends are established.
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.
Contact:
Tom Kelly Empyrean Energy Plc Tel: +618 93216988
Nominated Adviser and Broker:
Jerry Keen Astaire Securities Plc Tel: +44 (0) 20 7448 4400
Shane Gallwey Astaire Securities Plc Tel: +44 (0) 20 7448 4400