Empyrean Energy

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

Do not think there is much chance of you seeing your 10p target HARRYCAT!

No, looks unlikely, but you never know with EME. Somehow they never seem to deliver. Think I will stay out now though. 18p too expensive imo.

Empyrean Energy PLC

('Empyrean' or the 'Company', (EME))




Riverbend Project, onshore Texas, USA.




Quinn 3H encounters multiple significant gas flares whilst drilling.

Including multiple flares over 100 feet in height and one over 200 feet.

Operator drilling ahead.







Empyrean Energy Plc is pleased to announce that it has been advised by Krescent Energy Company LLC ("Krescent"), the operator of the Riverbend Project in Texas, that drilling had progressed to a measured depth of 16,383 feet from a vertical depth of 15,054 feet.




Since "spudding" of the well on the 2nd September 2009, Krescent has successfully prepared the well for horizontal drilling, including running a cement bond log. This bond log necessitated remedial operations which were completed successfully. A window was then milled in the casing in order to horizontally drill ahead to the current measured depth.




During drilling, multiple fractures have been encountered that have all exhibited significant gas flares and influx of gas into the drilling mud. Although highly encouraging, these gas kicks require extreme operational caution and necessitate drilling to be momentarily stopped whilst the gas that has invaded the drilling mud is circulated out of the well.




The number and significance of the fractures and flares have exceeded the operator's expectation for the footage of horizontal drilled up to this point. This is positive and is being analysed further to decide upon how much further to drill ahead. No decision has been made on this, however it is highly likely that it will not be necessary to drill the planned 5000 feet of horizontal.




Further announcements will be made as significant developments occur. No conclusions should be drawn from the observations to date, until drilling operations have completed and the well has been production tested.

cyril

It seems people are becoming better at reading between the lines with each announcement. ;-0

lol



;))

There are very big gaps between them so yes.

What on post since FRiday the 13th? ;-0

Sounds like they've blown a hole in something they shouldn't have. ;-0

Took 'em long enough to tell us. ;-)

Using other thread Al.Coping fracc engineers thoughts?
cyril

Other thread????

Anyway ..................... this does seem silly when it's happened elsewhere in the region.


RNS Number : 4660F
Empyrean Energy PLC
13 January 2010

13th January 2010







Empyrean Energy PLC

('Empyrean' or the 'Company', (EME))




Riverbend Project, onshore Texas, USA







Empyrean Energy Plc is pleased to announce that it has been advised by Krescent Energy Company LLC ("Krescent"), the operator of the Riverbend Project in Texas, that testing at the Quinn-3H well commenced on January 1st 2010.




Since testing began the well initially flowed gas at rates ranging and sometimes in excess of 13-15 MMcf/day over a
continuous 32 hour period, including a brief test flow to the sales line at a choked back rate of 3.2 MMcf/day, after having gone through the separating equipment and whilst still cleaning up. The operator then observed further drilling mud and formation debris including small sand like particles and some pebble sized particles unloading from the well and restricting the flow.




The well is currently shut in whilst the operator is assessing the particles to determine suitability for an acid treatment to assist in the well cleanup process or possibly the use of a coiled tubing unit or workover rig to drill out the blockage and restore the well to production and sales.




The operator advises that other wells in the region have experienced similar characteristics whilst initially cleaning up.




It is expected that Empyrean will receive the forward clean-up plan within the next few days from the operator and we will make a further announcement at this time.




It is important to note that, although the flow rates stated above are accurate observations that have been reported during initial testing, the well was still unloading drilling mud and debris during the time the observations were taken. These rates are accurate observations only and cannot yet be relied upon as conclusive longer term flows until such time as the well is fully cleaned up and the flows and pressures have stabilised.




Empyrean is earning a 10% working interest in the Riverbend Project.










The information contained in this announcement was reviewed by the Technical Director of Empyrean Energy Plc, Mr Frank Brophy BSc (Hons) who has over 40 years experience as a petroleum geologist.

Looks like you might see 10p today

10p now.

Watching EME, at the current levels, cant stay at this level forever i'm told.
2010 hopefully an EME revival in the making, see it rising up slowly in the weeks ahead, quiet one to tuck away..

hlyeo don't comment!!!

Not unless they have a little more success, I'd suggest.

The problem with good news or success Al is, you ending up buying when the sp has rocketed..but agree if good news is released, then sp will shoot once again..

the problem with EME is that it has a well-founded reputation for issuing good news which is then quickly followed by a more damaging caveat

...and the management leave much to be desired.

I think if you look at a chart of the whole of EME's existence you will see that its early promise has been hit time and again by worse and worse news.

They've failed at every turn and cynic hits it on the head. Each RNS that gives an apparent boost to their chances always has hidden bad news, which ill-informed investors do not see, and is then followed by updated news whereby the "good" of the previous release is almost completely negated.

The price will bounce; it always does with speculative companies, but there are just so many better options around IMO.