Sugarloaf Project Block B Upd

RNS Number : 7144O

Empyrean Energy PLC

02 July 2010

 



2 July 2010

Empyrean Energy PLC

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

Sugarloaf Project, ("Sugarloaf"), Block B, Texas USA

Empyrean is pleased to provide the following update on production at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.

Production Update

The following wells have reached the 60 day production milestones:

	Fractured Horizontal Length (ft)	Total Gas Production (mmscf)	Total Condensate Production  (bbls)	Average Daily Equivalent Gas Rate (mmscfe/d)*
Morgan #1H	4400	201	65,200	17.2
Easley #1H	2750	221	19,600	8.5

* The equivalent gas rates have been calculated to reflect value using a 12:1 conversion ratio for condensate and a 25% uplift on gas equivalent volumes due to the high calorific value of the produced gas.

These additional production figures continue to be very encouraging for the economics of the field. Further production updates for these wells will be provided in quarterly reports going forward.

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.

Contact:

Tom Kelly                                      Empyrean Energy Plc                Tel: [phone]

Nominated Adviser and Broker:

Jerry Keen                                     Astaire Securities Plc                Tel: [phone]

Shane Gallwey / Toby Gibbs            Astaire Securities Plc                Tel: [phone]

 

END

 

 

DRLUUVNRRSABRRR