Empyrean Energy

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

Topped up today on the news at 105p. I don't understand the market sentiment to update news. EME is looking good especially with imminent good news coming up. Don't understand people who sold.

HLYEO98 THANK YOU FOR YOUR CONSTRUCTIVE INFO,I TOPPED UP TODAY @105P THINK THE NEWS WAS OK NOT PERFECT, BUT HAY WE ARE ALL GAMBLING

nice one

Nice shakes

This for me says it all.

During drilling, effective seal quality lithology was intercepted.

Be interesting to see what happens tommorow.

Regards

The fall has been overdone

Hlyeo,

That maybe, but EK has just gone short on EME and reckons a fair SP value of 70p which may explain further downward pressure. I'm out now after my stop loss was hit at 120p a couple of weeks ago. My Long Term view remains bullish especially if Glantal in Germany comes good ,so may buy back at a later date. Good luck to those still holding.

Hope EK not too short, then again I hope he is!

What gives?

ellio,

Yep, it's a gamble buy in weakness or wait until EK no longer short....? I favour the former at present, question is at what level to buy back in or top up, need a TA Chartist view?????????????

I wish EK would just go 3333 himself!! maybe a bit harsh and he's only doing what others do, but he is an arse!

EK can be wrong too...he's only human or an arse more likely

Has that feeling doesn't it that its about go pop! to 150!

With news likely to come next week, I am sure EME will go pop like NOP today

read the drilling report today www.vicpet.com looks ok, a bit slow but i think it will be worth the wait

We just need patience...just within the next few weeks...hold tight

We just need patience...just within the next few weeks...hold tight

31 March 2006

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

Drilling Update
AIM quoted Empyrean Energy PLC today announces the following update on the Eagle
North-1 well, California, USA:

Victoria Petroleum NL as operator for the Eagle North-1 well has advised that at
at 0600 hours Central Pacific Time today, that current operations at the Eagle
North-1 horizontal well was tripping at 4,032 metres (13,230 feet) to change the
drill bit and bottom hole assembly to drill ahead after having milled a new
window in the casing at 4,028 metres (13,215 feet) and drilled new formation to
4,032 metres (13,230 ft).

An evaluation of the drilling difficulties previously experienced have resulted
in a revision of the horizontal drilling plan and the adoption of a conservative
medium radius curve to achieve the horizontal well path into the target oil
sands.

This has required a new horizontal well to commence from a measured depth of
4,028 metres (13,215 feet) in the vertical Eagle North-1 well bore.

Further technical details are in the annexure to this announcement.

A further update will be made as information becomes available.

Executive Director - Tom Kelly commented "This is a very exciting time for our
company and we hope that testing can proceed smoothly from here as the delays
have been due to mechanical problems and do not diminish the technical merit of
the project."


The information contained in this announcement and annexure 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.

Annexure

Using a less severe curve approach, which was successful in achieving a
horizontal well path in the previous Eagle-1 well, it is believed that the
objective of completing an oil producing horizontal well in the oil bearing
sands between Eagle North-1 and Mary Bellochi-1 will be achieved.

During the drilling of the horizontal well a 41/2 inch liner is planned to be
run as an intermediate step to case off the Kreyenhagen shale at a measured
depth of 4,252 metres (13,950 feet).

With the setting of the Kreyenhagen Shale behind the 41/2 inch liner the
Gatchell target oil sands will be drilled with a normal pressured water based
KCL-Clarizan mud minimising formation invasion and maximing the evaluation of
the oil bearing potential of the oil sand.

Following setting of the intermediate 41/2 inch liner which will put the
Kreyenhagen Shale behind pipe, a 3 3/4 inch horizontal well bore will then be
drilled over a distance of 320 metres to within 30 metres of the Mary
Bellocchi-1 oil well. This horizontal well bore will then be completed for
production with a 2 7/8 inch slotted production liner.

1M + more shares coming onto the market, exercising of warrants @ prices of 20p and 35p.
2517

Nice recovery today (on not much volume). Those on the iii boards are speculating that good news is just round the corner and also that share is oversold. It seems reminiscent of the shenanigans on the VOG SP a couple of months ago.

Yep, difficult to understand this one, hardly expensive, total mkt cap is 35m!

Good buying opportunity at this price of 100p