Empyrean Energy

Web site : http://www.empyreanenergy.com

Weather conditions eg hurricane in America may delay things further.

Looks good.

RNS Number:9158C
Empyrean Energy PLC
29 August 2007


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

Sugarloaf Block A, Texas USA
----------------------------

- TCEI JV Block A # 1 well reaches total depth
- Encouraging gas shows throughout the horizontal well
- Gas flares measuring up to 65 feet observed

Empyrean has been advised by Texas Crude Energy Inc that the TCEI JV
Block A #1 well has reached a total depth of 4,400 meters (measured
depth). Current operations are preparing to run casing.

The horizontal well has continued to encounter encouraging gas shows
in addition to fluorescence in the cuttings through to total depth.
Gas shows were observed over approximately 2,500 gross feet. Multiple
gas flares measuring up to 65 feet were observed over approximately
1,000 feet including an interval of about 600 feet that had a constant gas flare.

Further updates will be provided as the timing for testing
operations is confirmed.

Commenting today, Empyrean director Tom Kelly said: " The gas flares
encountered whilst drilling are particularly encouraging as the
drilling mud weight was raised to over 14 pounds per gallon and gas
flares and shows were still observed despite the heavier mud - we
look forward to the results of testing".

Yes great news today,all coming together nicely.SP flying,interesting as to where
it will settle. The real news will be the testing results,if positive this will turn into a very profitable investment.
cyril

Must not forget what the percentage is though Cyril......EME has only a small percentage cut of any positive result.

PP, yes 6% S/L 7.5% for block A and a further 12% for block B which is
expected to spud in next few weeks(kennady1). Now if these are in the trillion
size fields, then we would easily 2 or 3 bag. And of course we still have Eagle
to come along with Margarita thats one hell of a portfolio for such a small Co.
Looking forward to the testing, which will a profound effect, if positive. So a little more patience regd to get the due rewards.
imo
cyril

Not sure there's an awful lot of relevance re mud weight. Why did they have to raise it? Was it gas or was it hole instability? That's either good news or bad news. I suspect the latter as they seem to be setting casing earlier than anticipated if I read it correctly. This horizontal was supposed to be 5000ft, wasn't it?

I'm also still mystified about these flares whilst drilling with mud. I'm missing something obvious. Anyone got any more info on this particular bit?

Al if you go to the RNS from 25th July its states horizontal 4000ft,the total depth given is 4400mtrs in the latest RNS, so not referring to the length of the horizontal. Also worth rereading TK's comments as i don't see it consistant with a problem, and of course theirs the reference to 600ft of constant gas flare?
cyril

cyril - might have got m and ft mixed up - will check, cheers.

As I said, raising MW can have a couple of reasons. I'm just worried hole instability leads to the Eagle Pool fiasco, which has been in limbo for far too long IMO. Wouldn't like to see it happen here as I think they are desperate for the cashflow after all the cockups.

The gas flare thing is still a mystery to me unless they're underbalance drilling. However, that is not consistent with the MW raising comment. I've 26 years drilling under my belt and I'd like to know what they're up to!!!!! ;-))

You seem a bit intense here, Big Al.

Not like you, but is it working to your advantage?

Not too intense, sww. I'm just exceedingly wary of these guys and their news releases. They've a history of telling the good and not the bad IMO. Any trust I had in them is long gone.

However, I've done pretty well out of them when I've had a go. ;-)))

Al, it appears that TCEI have more than doubled their acreage over the last few months,with the latest leases only last week and if correct would i believe be
as big a hint as to the potential of Sugarkane. So if it turns out to be so,how many
wells would be required and at what point(production etc)and time scale to confirm a trillion field and also would appreicate your views on an even larger find being confirmed?
tia
cyril

Al if you goto AUT site via the ASX, theirs some interesting news.
cyril

Yawn, nothing much to report, just up 8p (17%).
cyril

GOTO the asx.com/au click on AUT a Major update on AUT 21pages.
http://www.asx.com.au/asxpdf/20070905/pdf/314d0fj2q22q03.pdf
hope this works?
cyril

Empyrean Energy PLC

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

Updated Presentations by ASX Listed Partners - Sugarloaf Prospect, ('Sugarloaf')
Texas USA

"Empyrean advises that two of its ASX listed partners in the Sugarloaf Prospect,
Aurora Oil & Gas Ltd (ASX:AUT) and Adelphi Energy Ltd (ASX:ADI) have today
released updated presentations containing information on the Sugarloaf project.

These presentations have been lodged with the ASX and will be made available on
both companies' websites."

News out, S/L1 (kunde3) casing being run, hopefully results this week?
cyril

From our Aussie jvp's, testing started yesterday(11th).
cyril

RNS out today, + an article on http://www.oilbarrel.com
cyril

Not good news fro our Australian partners? Trouble at the deepest level,screen out? Kennady 1 Horizontal spudded, 45 days approx.
asx.com.au/asxpdf/20070919/pdf/314mjgwlkk1pz1.pdf

Tin hats i'm afraid is the order for the day.
cyril