Empyrean Energy

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

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

Empyrean Energy PLC
06 April 2006



Empyrean Energy PLC
('Empyrean' or the 'Company'; Ticker: (EME))
Farm-in Agreement for Gas Exploration - Texas, USA


Acquisition of 6% working interest in the Sugarloaf Hosston Prospect,
South Texas
Multi trillion cubic feet gas target - 0.97-2.3 TCF
Farm-in agreement with Texas Crude Energy, Inc (Operators)
Drilling scheduled for Q3 2006


AIM quoted Empyrean today announces that it will participate in the Sugarloaf
Hosston Prospect, South Texas, USA ('the Project') following a farm-in agreement
with local Houston based operator/explorer Texas Crude Energy, Inc.

The Sugarloaf Hosston Prospect (Cretaceous) is a 20,000 acre 4-way closure with
multi trillion cubic feet ('TCF') gas potential in one of the most prolific
hydrocarbon provinces in the world. An independent expert has estimated that the
Sugarloaf Hosston Prospect could contain a P50 (probability 50%) reserve of 0.97
TCF gas, with the P10 assessment estimated at 2.3 TCF gas.

Texas Crude Energy will be the operator of the project and plan to have an
initial well drilled to a total depth of 21,000 feet commencing during Q3 2006.
The large anticlinal structure is well defined by some 24 lines of re-processed
2D seismic data. The target Hosston Sands are in the lower cretaceous and are
predicted to occur at 17,000 feet. Drilling is estimated to take 110 days to
this depth.

The terms of the agreement with Texas Crude Energy are for Empyrean to pay 7.5%
of the costs of the initial well (including lease costs and operating expenses)
until payout after which Empyrean's working interest reverts to 6.0% (4.26%
NRI). The initial well is expected to cost a total of US$6 million with lease
costs and completion costs a further US$4 million. Empyrean's share of this
expenditure is estimated at US$750,000.

Commenting today Tom Kelly, Executive Director states 'The participation in the
Sugarloaf Hosston Prospect allows Empyrean exposure to a potentially massive gas
resource. The profile of this prospect is in line with our strategy to develop
high value energy projects in politically stable countries with high levels of
infrastructure and healthy domestic energy markets. We look forward to seeing
results from the Project later this year once drilling commences in Q3 of 2006.
This is an exciting and busy time for our company with horizontal completion at
our Eagle Oil Pool Development Project in California underway and testing at the
Glantal Gas Project in Germany commencing soon and drilling at the Sugarloaf
Hosston Prospect enhancing the portfolio.'

Everybody just sit tight as more good news on the way