Empyrean Regulatory News (EME)

4 Nov 2008 07:47

4 November 2008

Empyrean Energy PLC 

("Empyrean" or the "Company"; Ticker: (EME))

Sugarloaf Prospect, ("Sugarloaf"), Block B, Texas USA

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, provides the following update on operations on Block B which is part of the Sugarkane Gas and Condensate Field:

Kowalik well flowing gas and condensate to sales line during test

Operator planning to inject the well with mud-cleanout treatment to enhance the flow and further clean the formation

Kowalik -1H Well 

Empyrean has been advised by the operator, Texas Crude Energy Inc ("TCEI"), that at 6am on 3 November 2008, the Kowalik-1H well was flowing un-stimulated to sales on test. During the 24 hour period to 6am the well produced 937,000 cubic feet of gas, 321 barrels of oil and 14 barrels of water. The water production is considered to be predominantly drilling and completion fluids. The well was still producing slugs of drilling mud during the period and had not fully cleaned up.

The operator is planning to inject a mud-cleanout treatment into the wellbore in the next day or so to help mobilize any remaining drilling mud and completion fluids. Such treatments have effectively been used many times in the Chalk at analogue and other fields to enhance the flow and clean the formation. 

Commenting today, Empyrean Executive Director - Tom Kelly said: "We are happy to see the Kowalik well flowing to sales early in this test. The operator has not finished clean up operations; therefore we will make a further announcement as those operations are completed."

Empyrean has a working interest of 18% in the above well.

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 

Tom Kelly

Tel: +44(0) 207 182 1746 

Blue Oar Securities Plc

Olly Cairns / Jerry Keen

Tel: (+61) 8 6430 1631 / (+44) 207 448 4400 

Jonathan Charles / Fiona Hyland

Conduit PR 

Tel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509