Empyrean Energy

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

EME up almost 10% today, the fact is Project works at long last and "timely" appears to be going their way. Market capitalisation currently sits undervalued at just 12m, and thats with 5 projects on the go. Should be nearer 20-25m.
A no No brainer, hence now was the perfect time to take stock.

5th February 2010





Empyrean Energy PLC

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



Sugarloaf Project, Block B, onshore Texas, USA.



Empyrean Energy Plc is pleased to provide the market with the following update:

SUGARLOAF OPERATIONS UPDATE

Empyrean has been advised by Texas Crude Energy Inc ("TCEI"), that Hilcorp Energy ("Hilcorp") have exercised their right under the farmout agreement to assume operatorship of activity within the Sugarloaf AMI effective from the 1st February 2010. Empyrean welcomes this development but would also like to acknowledge and thank TCEI for the significant role they have played to date in maturing the project to its present status. TCEI remain very actively involved and in particular will continue to manage land related issues.

Easley-1H

The well has reached a depth of 8,362ft having run and cemented the intermediate casing string. Forward plan is to drill down to the Austin Chalk and Eagle Ford Shale targets with a vertical pilot hole to a planned depth of 11,800ft. The pilot hole will be logged before sidetracking as a horizontal production well.

Weston-1H

Empyrean has been advised by the Operator, Hilcorp, that fracture stimulation operations commenced at the Weston-1H well on the 4th February. The 3,000 ft of horizontal liner will be stimulated in a number of stages. The fracture design is similar to that recently applied to the Kennedy-1H well with success. Process equipment and flow lines have already been installed and the well will be flowed to sales during the clean up.

Kennedy-1H

The well continues to clean up with production performance in line with expectation after the recently reported IP rates of 4.4 mmscf/d and 1,130 bcpd. Production tubing will be installed in this well in due course.

glad i did something right today....:))

TIMES ONLINE ARTICLE

From The Times February 6, 2010

In the know: Tullow Oil; TUI Travel; Empyrean Energy
Gilts Rumour of the day Deal of the day Bet of the day Tiddler to watch.

Tiddler to watch

Unlike many smaller exploration companies, Empyrean Energy has forgone the popular drilling areas of Africa and Asia in favour of the German and American energy markets. Yesterday, investors were treated to a reassuring update on Empyreans Sugarloaf Hosston gas project in Texas, spurring the shares 0.75p higher to 10.75p.

ARTICLE SHOULD ROCKET EME NEXT WEEK...!

rocket....no, steady climb and sustain yes...:))

Repeated in the Sunday Times,

The Sunday Times
Tiddler to watch from Saturday

Empyrean Energy has given a reassuring update on Empyreans Sugarloaf Hosston gas project in Texas, the shares rose 0.75p to 10.75p.

cyril

Sugerloaf update on the ASX.com via ADI,excellent progress today.
cyril

Getting me boots ready ready for a breakout at the next update.

12p to buy +2.5%

?

This has gone to sleep? What happenned to the outcome of the Riverbend drill? It used to be that they issued an RNS every time the chairman sneezed, now they have gone to the other extreme bar the unrelated announcements earlier in the week. Has anyone a view on where this is going and when?

Try ADI on the ASX.com.au
cyril

going back to the gutter where it belongs

In the meantime Eo. has sprung into life this past couple of weeks. ;-)))

As far as EME is concerned, it's headed where it was always going to IMO. They need a real change to do better and I'm not sure I see that. If they're not moving on the news that has come out in the last year or so, there's not much else. The eraly promise they showed evaporated long since. California and Germany were the big draws some years ago and nothing has happened there at all. To my knowledge the US gas price has fallen just when EME focussed on it. Not really very clever.

Although the sp doesn't seem to imply that EME has many friends left, the result of testing on the Hercules drill is apparently imminent and believed to be good. So why the sp weakness? Boredom or does anyone know more anything different. I would have thought that if Hercules or Riverbend (also apparently due now) had been at all bad that news would have been out already.

probably because time and again EME has promised much and then failed dismally to perform

From the latest news,
Kennedy 11.7mmcfe/d
Weston 11.5mmcfe/d 30 day average.
The ful article can be found on the ASX.
cyril

Encouraging news; still need the rest of what is due to be announced, which seems to be taking forever. That should be a good sign by my book - if they had duds to announce that would have to happen straightaway.

believe that and you;'ll believe anything

I know what I like and I like what I know.