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Last checked at 
15 Jul 2010 07:43
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15 July 2010
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Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker (EME))
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Sugarloaf Project, ("Sugarloaf"), Block B, Texas USA
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Empyrean is pleased to provide the following update on operations at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.
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Kowalik-1R
Empyrean has been advised by the Operator that the Kowalik-1R well was spudded on 9th July 2010 and the well is presently at a depth of 5,996 ft having run and set surface casing.
The Kowalik-1R well is the first Sugarloaf well where Empyrean will contribute to costs and derive revenue on a post farmout basis. Because of Empyrean's increased working interest in the original Kowalik well the company will hold a 10.2% working interest in the Kowalik-1R well and as such will pay 10.2% of the costs of the well and derive 10.2% of the net proceeds from any hydrocarbon sales.
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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.
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Contact:
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Tom Kelly Empyrean Energy plc Tel: (+61) 8 9321 6988Β
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Nominated Adviser and Broker:
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Shane Gallwey / Toby Gibbs Astaire Securities Plc Tel: (+44) 20 7492 4750
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