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12 Nov 2008 07:58
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12 November 2008
Empyrean Energy PLCΒ
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Prospect,Β ("Sugarloaf"), Block B,Β TexasΒ USA
Empyrean Energy Plc, the oil and gas explorer and producer with assets inΒ GermanyΒ and theΒ USA, provides the following update on operations on Block B which is part of the Sugarkane Gas and Condensate Field:
Kowalik -1H WellΒ
EmpyreanΒ has been advised by the operator, Texas Crude Energy Inc ("TCEI"),Β that at 6am on 11 November 2008, the Kowalik-1H well was flowing un-stimulated to sales on test. During the 24 hour period to 6am the well produced 884,000 cubic feet of gas, 190 barrels of oil and 30 barrels of water. The water production is considered to be predominantly fluids used in the recent cleanout operation. This combined rate is approximately equivalent to 2.8 million cubic feet equivalent gas per day.
Commenting today, Empyrean director - Tom Kelly said ", Empyrean agrees with the Operators interpretation that whilst some 4,600 feet of horizontal well was drilled, it was approximately the last 1,500 feet that was drilled at a specific horizon within the upper chalk which should be pursued in subsequent wells drilled in this area of the field. This particular horizon exhibited the type of gas flares and shows during drilling that indicate better natural fractures and higher permeability. The importance of this is that there is evidence from analogue fields that longer completions drilled in the zones that exhibit better permeability appear to correlate with better flow rates. Importantly - this well is flowing to sales and providing cash flow and we think that future wells that have more than 1,500 feet of good shows and flares will have even better flow rates."
Empyrean has a working interest of 18% in the above well.
Further updates will be providedΒ 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 informationΒ
Empyrean Energy plcΒ
Tom Kelly
Tel: +44(0)Β 207Β 182Β 1746Β
Β
Blue Oar Securities Plc
OllyΒ CairnsΒ / Jerry Keen
Tel: (+61) 8 6430 1631 / (+44) 207 448 4400Β
Β
Jonathan Charles /Β Fiona Hyland
Conduit PRΒ
Tel: +44Β (0)Β 207Β 429Β 6611 / +44Β (0)Β 7791Β 892Β 509Β
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