Empyrean Energy

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

anyone know why we're falling this morning?

It is just profit taking by some traders

As expected.

It's another buying opportunity.

As EME settles a bit, ELP is now taking off as the time nears for the ELP's "potential company maker" North Sea Jaguar drill to get to Target Depth. Another high risk oil play, but if they hit commercial oil on Jaguar, the upside truly is "blue sky". Worth a little look for non widows and non orphans as they say ;)

Latest RNS:

Empyrean Energy PLC
27 February 2006




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

Testing Update

TARGET ZONES SUCCESSFULLY PERFORATED
RESULTS EXPECTED BY THE END OF THE WEEK

AIM quoted Empyrean Energy PLC today announces the following update on the Eagle
North-1 well in California, USA.

Victoria Petroleum NL as operator for the Eagle North-1 well has advised that
two intervals including the interpreted oil pay zones were successfully
perforated over the weekend.

The operator has also advised that a near well bore clean up and nitrogen
injection are being used to unload the well bore of fluids to provide conditions
necessary for oil flow to occur. Very similar operations were used at the
adjacent Mary Bellocchi-1 well resulting in a successful flow of oil to the
surface.

The operator has also stated that although the positive wireline logs provided
strong enough evidence to consider proceeding directly to the drilling of the
horizontal completion well, it was considered important to first gain valuable
reservoir engineering data from a vertical test.

The operator anticipates that the vertical test results may be known by the end
of this week.

Latest update today, (as best as my OCR does it), not holding, just interested party.



Monday, 13 March 2006


Dear Sir/Ms,

RE: DRILLING UPDATE EAGLE NORTH #1 - 1H HORIZONTAL WELL SAN JOAQUIN BASIN, CALIFORNIA, USA

Sun Resources NL ("Sun Resources") wishes to update shareholders on horizontal drilling operations on Eagle North #1-1H in the San Joaquin Basin, California, since the last announcement on Tuesday 7 March 2006.

Drilling resumed early in the weekend after some rig mechanical matters were resolved. Current operations at 0900 hours Perth WST Monday 13 March was drilling ahead with 5 718" bit with directional tool at 4,131 metres (13,552 feet) measured depth to make a radius drill curve to drill horizontally in the target Gatchell oil sands. Target should be intersected at 4,149 meters (13,611 feet) measured depth (4,132 metres 113,558 feet} true vertical depth).

A drill stem test will be called once the lateral has gone out to final measured depth in the topmiddle of the lower Gatchell oil sand at 4,147 to 4,149 metres (13,606 to 13,612 feet) vertical depth.

A further update on the testing program will be given when relevant results come to hand.

Background

The inference from recent test on the target Gatchell oil sands in the vertical well bore of Eagle North #1 and the very small recovery of oil is that it is highly probable the oil bearing Gatchell sands have not been adequately brought into communication with the well bore by the perforations. This would be most likely due to the large washouts in the friable Gatchell oil sands observed on logs and the inability of the perforations to get past the cement to the Gatchell oil sands coupled with the fact that the Gatchell sands adjacent to cement have also been badly damaged as a result of the overbalanced mud conditions (5ppg (3500psi) flushing pressure) whilst drilling.

The Operator's recommendation to partners to assess the situation is the current operation; ie to drill a horizontal well towards Mary Bellocchi # l and Eagle # l to known and best lagged pay in the top middle section of the lower Gatchell oil sand at 4,147 to 4,149 metres and test. If the test is successful the horizontal would be completed for oil production.

Long term testing results should assist in determining the radius of drainage, any finite reservoir boundaries plus other necessary reservoir parameters required to assist in forward. planning on the Eagle Oil Pool development. If the test of the lateral is successful the horizontal, completed along the pay for oil production, should have a 4 to 6 fold flow rate for oil and gas over a conventional vertical well such as Mary Bellocchi #I which flowed at rates of up to 223 barrels of oil per day and 0.8 million cubic feet per day in 1986.

Participants' Interests in the Eagle Oil Pool Development Project on completion of Eagle North #1 are:

Sun Resources NL 10.0%
Victoria Petroleum NL (Operator) 20.0%
First Australian Resources Ltd 15.0%
Lakes Oil NL 15.0%
Empyrean Energy PLC 38.5%
USA Private Interest 1.5%

Big news due! Thats the rumour in the city tonight!

Can you shed anymore light on that City Trader? Fair few large buys today

Just been informed that the horizontal drilling news will be out tomorrow morning.

I will pick it up during the night then when it comes from VPE / SUN first on the ASX, and will post here as soon as anything comes out.

Is there a link to ASX Papal?

bolettac, open the link below for VPE (Vic Pet) announcements, look for any Eagle North Drilling upates when the ASX market opens tonight UK time.

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=VPE&companyName=&principalActivity=&industryGroup=NO

Thanks Papal

that was crap timing!! 130

too much happening to ignore, apparently I'm in good company at 130, lol

somebodys banking those 35p shares at 130!

somebodys banking those 35p shares at 130!

somebodys banking those 35p shares at 130!

News is due on horizontal drilling tomorrow according to rumour by city trader on another new eme thread.