Sugarloaf Project Update

RNS Number : 5452G

Empyrean Energy PLC

13 May 2011

 

13 May 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)*
Hollman #1H - 60 day	3%	114.7	31,006	850
Buehring #1H - 30 day	3%	21.84	17,406	726

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

Operations

PMT #1H (1.11% WI)

This PMT well location lies across Sugarloaf and neighbouring Hilcorp operated acreage that Empyrean does not participate in.  As such Empyrean holds a blended working interest of 1.11% in this well.  This well has been fracture stimulated and for operational reasons production tubing was run prior to unloading the well.  The well is now cleaning up to flare.

Buehring #1H (3% WI)

Production commenced on this well on 8/4/11 and the 30 day production figures are provided above.

Davenport #1H (1.4% WI)

The Davenport #1H well location lies across Sugarloaf and neighbouring Hilcorp operated acreage that Empyrean does not participate in.  As such Empyrean holds a blended working interest of 1.4% in this well.  The well reached a total depth of 18,220 ft on the 23/04/11.  The well will be fracture stimulated shortly.

Best Fenner #1H (3% WI)

The Best Fenner #1H well has been drilled within the Sugarloaf AMI and reached a total depth of 18,020 ft on the 27/04/11.  This well has been successfully cased and will be fracture stimulated in due course.

Best Huth #1H (0.58% WI)

The Best Huth #1H well location lies across Sugarloaf and neighbouring Hilcorp operated acreage that Empyrean does not participate in.  As such Empyrean holds a blended working interest of 0.58% in this well.  The well is presently being drilled having been spudded on 02/05/11.

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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