Sugarloaf Project Update

RNS Number : 6537E

Empyrean Energy PLC

11 April 2011

 

11 April 2011

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 operations at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.

Production Data

The following wells have been on production for a period of either 30 or 60 days and Empyrean is pleased to provide the market with an update on produced volumes during that period:-

	Working Interest	Total Gas Production (mmscf)	Total Condensate Production (bbls)	Average Daily Equivalent Oil Rate (boe/d)*
Direct Assets-1H - 30 day	3%	40.6	13,930	690
Direct Assets-1H - 60 day	3%	81.7	26,376	666
Hollman-1H - 30 day	3%	58.8	17,875	884

*The equivalent barrels per day production rate has been calculated on a 6:1 ratio. 

Operations

Hollman-1H (3% WI)

This Hollman well was fracture stimulated with 18 stages across approximately 4,800 ft of horizontal length.  The well commenced flowing on 7^th March 2011 and the 30 day production results are provided in the table above.  This well achieved first production 43 days after it was spudded.

Buehring-1H (3% WI)

Drilling operations commenced on the 18^th February 2011 and the well reached a TD of 17,386ft on 9^th March 2011.  Production casing has been run on this well and the fracture stimulation of this well has just been completed with 16 fracture stages.  Empyrean will provide an update to the market once 30 day production figures are available.

Davenport-1H (1.40% WI)

This well location lies across the Sugarloaf and neighbouring Hilcorp operated AMIs in which Empyrean does not participate.  As such Empyrean holds a blended working interest of 1.40% in this well This well is presently at approximately 5,000 ft and drilling ahead.

PMT-1H (1.11% WI)

This well location lies across the Sugarloaf and neighbouring Hilcorp operated AMIs in which Empyrean does not participate. As such Empyrean holds a blended working interest of 1.11% in this well.  The well spudded on 14^th February 2011 and reached TD on the 26^th March 2011 at a Total Depth ("TD") of 18,200 ft.  Production casing has been run on this well and it is awaiting fracture stimulation.

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:

Empyrean Energy Plc

Tom Kelly                                                                    Tel: [phone]

Shore Capital & Corporate Limited

Anita Ghanekar                                                            Tel: [phone]

Edward Mansfield

 

END

 

 

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