Sugarloaf Production Update

RNS Number : 1918R

Empyrean Energy PLC

15 November 2012

 

15 November  2012

Empyrean Energy PLC

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

Sugarloaf Project : Onshore Texas, USA

Production and Operational Update

Production

The following is a summary of 30 and 60 day production data recently received for the following wells at the Sugarloaf Project:

	Working Interest	Total Gas Production (mmscf)	Total Condensate Production (bbls)	Average Daily Equivalent Oil Rate (boe/d)*
Luna Unit 2H - 30 day	3.0%	56.1	21,479	1028
May Unit 1 2H - 30 day	3.0%	56.7	23,480	1098
Gilley Unit 2H - 60 day	3.0%	59.5	26,128	601
Davila 1H - 60 day	3.0%	167.1	35,979	1064
Davila 2H - 60 day	3.0%	168.7	37,052	1086
Forshage Howell 1H - 60 day	3.0%	158.6	31,846	971
Forshage Howell 2H - 60 day	3.0%	160.5	33,295	1001
Forshage Howell 3H - 60 day	3.0%	151.3	30,221	924
Imperial Unit 1H - 60 day	3.0%	160.6	43,626	1173
Imperial Unit 2H - 60 day	3.0%	70.7	41,275	884
St Germain Imperial Unit 1H - 60 day	3.0%	51.9	35,813	741
St Germain Imperial Unit 2H - 60 day	3.0%	127.3	37,839	984

*The wells have had the Average Daily Equivalent Oil Rate recalculated on a simple 6:1 basis.

Further production results will be released as they come to hand.

Operations

Empyrean currently has 55 wells in production in total at the Sugarloaf Project. In addition there are currently 3 wells being drilled and a further 4 wells in the process of having completion/ stimulation operations carried out.

Commenting today, Empyrean CEO - Tom Kelly stated, "Empyrean is encouraged by these latest 30 and 60 day production updates. The fundamental data coming through is strong and shows improvement in some wells. We are mindful of the time that the updated Reserve Report is taking and we are working through outstanding issues with a view to being able to update shareholders in the short term."

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

[phone]

Shore Capital

Anita Ghanekar

Edward Mansfield

[phone]

 

END

 

 

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