Empyrean Regulatory News (EME)

15 Oct 2008 07:09



15 October 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, is pleased to provide the following update on operations on Block B within the Sugarloaf AMI, which is part of the Sugarkane Gas and Condensate Field:

Kowalik-1H

Empyrean has been advised by the operator, Texas Crude Energy Inc ("TCEI"), that at 6am Texas time on 14 October 2008 the well had reached a measured depth of 16,325 ft which equates to approximately 4,500 ft of horizontal section within the Austin Chalk.

Slow progress over the week was primarily the result of the drill string parting and the subsequent successful fishing operation. 

The well has again continued to produce gas whilst drilling, with regular intervals producing strong flares with back pressure on the well. Gas readings regularly in excess of 2,000 units have continued to be measured.

Whilst encouraging the commercial significance of these gas shows and flares will not be known until the well has been flow tested.

The horizontal section is targeting the upper part of the Austin Chalk that has been reported as successfully producing gas and condensate in 3 wells in the adjacent acreage.

Kennedy -1H

TCEI has also reported that production at Kennedy -1H averaged 0.15 million standard cubic feet per day and 44 barrels of condensate per day.

Future production will be reported in the event of a material change or on a quarterly basis.

Empyrean has an 18% working interest in both these wells.

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 

Conduit PR 

Jonathan Charles

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