RNS Number : 2360C
Empyrean Energy PLC
10 November 2009
10th November 2009
Empyrean Energy PLC
('Empyrean' or the 'Company', (EME))
Riverbend Project, onshore Texas, USA.
Empyrean Energy Plc is pleased to announce that it has been advised by Krescent Energy Company LLC ("Krescent"), the operator of the Riverbend Project in Texas, that drilling had progressed to a measured depth of 16,383 feet from a vertical depth of 15,054 feet.
Since "spudding" of the well on the 2nd September 2009, Krescent has successfully prepared the well for horizontal drilling, including running a cement bond log. This bond log necessitated remedial operations which were completed successfully. A window was then milled in the casing in order to horizontally drill ahead to the current measured depth.
During drilling, multiple fractures have been encountered that have all exhibited significant gas flares and influx of gas into the drilling mud. Although highly encouraging, these gas kicks require extreme operational caution and necessitate drilling to be momentarily stopped whilst the gas that has invaded the drilling mud is circulated out of the well.
The number and significance of the fractures and flares have exceeded the operator's expectation for the footage of horizontal drilled up to this point. This is positive and is being analysed further to decide upon how much further to drill ahead. No decision has been made on this, however it is highly likely that it will not be necessary to drill the planned 5000 feet of horizontal.
Further announcements will be made as significant developments occur. No conclusions should be drawn from the observations to date, until drilling operations have completed and the well has been production tested.
Tom Kelly Empyrean Energy Plc Tel: +618 93216988
Nominated Adviser and Broker:
Jerry Keen Astaire Securities Plc Tel: +44 (0) 20 7448 4400
Shane Gallwey Astaire Securities Plc Tel: +44 (0) 20 7448 4400
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