Sign In
Last checked at 
27 May 2008 07:00
Empyrean Energy PLCΒ
("Empyrean" or the "Company"; Ticker: (EME))
Sugarloaf Prospect,Β ("Sugarloaf"), Block B,Β Β TexasΒ USA
Β
Β
Kennedy #1 well flows gas and condensate from a new pay zone
New pay zone is 120 feet thick versus 80 feet thick upper zone already producing from two wells in Block A
This test aloneΒ could more than doubleΒ the potential recoverable reserves from the project
Β
Empyrean, the AIM listed oil and gas explorer and producer with assets inΒ GermanyΒ andΒ USAΒ today announces the following:
Kennedy #1Β WellΒ
EmpyreanΒ has been advised by Texas Crude EnergyΒ IncorporatedΒ ("TCEI"), the operator ofΒ Block BΒ on the Sugarkane Gas and Condensate field, that production tubing has been successfully installed in KennedyΒ #1Β and the well has been flowed and placed back onΒ well test. The reservoir stimulation program on the KennedyΒ #1Β well commenced on 14 May, 2008 with the hydraulic fracture stimulation ("frac") of an approximate 600 ft zone at the end of the horizontal section of the well via four sets of perforations.
As at 0600hrs (US CST) on theΒ 25thΒ May 2008 the well had produced a total of 1,274 bbls of fracture fluids, 257 bbls of condensate and is continuing to produce small quantities ofΒ gasΒ and condensate. With the production tubing now in place there are several options available to accelerate the recovery of fracture fluid and the potential for additional fracture stimulation along the horizontal section of the well will also be considered.Β
Commenting today, Empyrean Executive Director Tom Kelly said "This is very encouraging news for the project as a whole because we now may have approximately 150% larger potential recoverable volumesΒ when you add this new "middle pay zone" to the "upper pay zone"Β thatΒ we had already proven commercialΒ from theΒ testing of the Block A wells. Significantly, this test at Kennedy was a relatively small fracture stimulation conducted over a relatively small horizontal section of the well and we would expect thatΒ much better flow rates can be achievedΒ usingΒ knowledge gained from these early wells. The completion technique used on this most recentΒ testΒ should measurably improve the production ratesΒ forΒ theΒ third potential pay zone, a lower zone some 50 feet thick,Β whichΒ was initially tested by the Sugarloaf-1 vertical well."
Further releasesΒ will be made as appropriate.
The informationΒ contained in this announcement was completed and reviewed by the Technical Director ofΒ Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has over 40 years experience as a petroleum geologist.
For further information:Β
Β
Empyrean Energy plcΒ
Tel: +44(0) 207 182 1746Β
Β
Rod Venables / Cecil JordaanΒ
HB CorporateΒ
Tel: +44(0) 207 510 8600Β
Β
Jonathan Charles / Ed PortmanΒ
Conduit PRΒ
Tel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509Β
Follow the stocks
