Empyrean Energy

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

and the market remains underwhelmed ..... surely that should be telling you something?

No dosh.

No mention of flowrate.


Doesn't sound too good, does it?

Yes eme have assets at the sugarloaf-1 and initially further updates will be announced on the progress and rates will be excellent etc

Right shadow, now back to sleep. ;-))

same old mantra shadow ...... you're as boring as me, except my prognostications look to be the more accurate!

RNS 14.01.09
"Weston-1H

Empyrean has been advised by the Operator Texas Crude Energy Inc (TCEI) that on 13 January 2009 the well was drilling ahead at a measured depth of 12,935 ft within the target horizon of the Austin Chalk. During the week, an additional run was made once the well was landed out to condition and smooth the kick-off bend. Gas levels within the Chalk have increased from a background of 20 - 30 units to approximately 250 units.

Kowalik-1H

Empyrean has also been advised that the well has been cleaned out to the toe of the well (16,480 ft) with 4% KCl and a mud cleaning agent conveyed by coiled tubing. The cleanout removed a number of blockages over the bottom 1,500 ft section of well - a zone which encountered several strong flares during drilling. On initial flowback, the well flowed 131 barrels of oil, 577 thousand cubic feet of gas and 10 barrels of water over a 24 hour period which represents a small increase over the pre-washout rate. The well is continuing to unload.

Now that it has been confirmed that coiled tubing can be run to the bottom of the well, the forward plan for consideration is to conduct an acid stimulation of the bottom section of the well. The use of acid in Sugarloaf Area A wells is believed to have proved beneficial by enhancing the permeability of natural fractures. The timing of this operation is subject to finalisation of program design and availability of equipment.

Further updates will be provided following developments."

As usual, nil impact on sp. Might as well tell us about the weather in Texas.

Sugarloaf Project, ('Sugarloaf'), Block A & B, Texas USA

Weston-1H

Empyrean has been advised by the Operator Texas Crude Energy Inc (TCEI) that at 6am Texas time on 20 January 2009 the well had reached a measured depth of 14,978 ft. Gas readings have increased since entering into the chalk with a maximum daily average reading of 3100 gas units. Minor flares have been observed whilst drilling and circulating.

The well is targeting the upper chalk interval that has produced gas and condensate in Block A and also the Kowalik-1H well.

Empyrean has a 6% interest in the Weston-1H well.
Further updates will be provided following developments."

oh good, says the market, we remain totally underwhelmed and reckon 8.25p is at least fair value

How is EME's gas market? Here's a clue:


Schlumberger chief executive Andrew Gould said: "We expect 2009 activity to weaken across the board with the most significant declines occurring in North American gas drilling, Russian oil production enhancement and in mature offshore basins."

Empyrean Energy PLC

Sugarloaf Project, ('Sugarloaf'), Block A & B, Texas USA

Weston-1H

"Empyrean has been advised by the Operator, Texas Crude Energy Inc ('TCEI'), that at 6am Texas time on 27/01/09 the well had reached a depth of 15,685 ft. Gas readings have been maintained at 2,000 to 3,000 units and minor flares have continued to be observed.

The well is targeting the upper chalk interval that has produced gas and condensate in Block A and also the Kowalik-1H well."

So?

They are contracted to produce a weekly RNS on the Sugarloaf progress.
No good news, no bad news. Just steady.

The world has changed in 6 months.

RNS largely irrelevant IMO.

Hmm, stuck in the hole. ;-0


RNS Number : 7575M
Empyrean Energy PLC
04 February 2009



4 February 2009

Empyrean Energy PLC

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

Sugarloaf Project, ('Sugarloaf'), Block B, Texas USA

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, provides the following update on operations on the Sugarloaf Project which is part of the Sugarkane Gas and Condensate Field:

Weston-1H

Empyrean has been advised by the Operator Texas Crude Energy Inc (TCEI) that on 2 February 2009 the well remains at a measured depth of 15,685 ft.

A short length of the drilling assembly became stuck between the casing shoe and top of the Austin Chalk and standard fishing operations are presently underway. Once resolved the forward plan is to run and cement a production liner at this depth which will secure approximately 3,000 ft of horizontal hole within the Austin Chalk.

The well continues to exhibit indications of gas charge, with gas readings of 2,000 units and flares of up to 60 ft observed when circulating out the well following shut in periods.

The well is targeting the upper chalk interval that has produced gas and condensate in Block A and also the Kowalik-1H well.

Empyrean has a 6% interest in the Weston-1H well.

Further updates will be provided following developments.

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.

Sugarloaf Project, ('Sugarloaf'), Block B, Texas USA

Weston-1H

"Empyrean has been advised by the Operator, Texas Crude Energy Inc ('TCEI'), that a clean out assembly has washed past the drilling assembly that became stuck ('fish') and continued to the well TD at 15,685ft. The production liner is presently being deployed and preparations will then be made to cement the liner in place.

The well will have approximately 3,000 ft of horizontal hole within the Austin Chalk and is likely to be fracture stimulated and tested before being tied into production.

During the fishing operations the well continued to exhibit indications of gas charge, with gas readings of over 2,000 units and flares of up to 40 ft having been observed when circulating out the well following shut in periods.

The well is targeting the upper chalk interval that has produced gas and condensate in Block A and also the Kowalik-1H well.

Empyrean has a 6% interest in the Weston-1H well.

Further updates will be provided following developments."

EMPYREAN ENERGY IS PRETTY DEAD NOW...6.75P now.

this is proving to be just the great company it always promised

Weston-1H
Empyrean has been advised by the Operator, Texas Crude Energy Inc ('TCEI'), that the production liner has now been successfully run and cemented to a revised measured depth of 15,797 ft. This secures over 3,000 ft of gas bearing matrix Austin Chalk behind pipe for future stimulation.

The Patterson #130 drilling rig was contractually released at 09:00hrs on 15/02/09 (US CST) and the rig has now been demobilised.

The completion of drilling operations at Weston-1H provides the Sugarloaf Joint Venture with three horizontal wells and the following table summarises their status.

Well
Horizontal Section (ft)
Formation
Completion
Fracture Stimulated, Tied in and producing

Kennedy-1H
3,800
Eagleford Shale, Cemented Liner, Attempted bottom 600 ft.

Kowalik-1H
4,600
Austin Chalk, Uncemented Slotted Liner, not fracture stimulated.

Weston-1H
3,000
Austin Chalk, Cemented Liner, Not fracture stimultated.

All three wells encountered gas charged matrix rock along their length and Kowalik-1H is believed to have encountered natural fractures over the last 1,500 ft of the well. The two wells with cemented liners will need to be fracture stimulated to achieve production. The Joint Venture has learned from the earlier fracture stimulation operations at Kennedy-1H and, based on results from recent fractured wells in the adjacent and on trend acreage, believes that improved results can be achieved when this work is carried out. The production results at Kowalik-1H are not consistent with the indications observed whilst drilling and the Joint Venture is also optimistic that this rate can be improved."

Read the release earlier. They make some fairly hefty assumptions IMO. Wouldn't do anything until their assumptions are proved!!