Empyrean Energy

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

Empyrean is pleased to provide the following update on operations at the
Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.
Morgan-1H
Empyrean has been advised by the Operator that the multi-stage fracture
stimulation operation on the Morgan-1H has been successfully completed and the
well is presently unloading to sales. A further announcement will be made once
stabilised results have been achieved, currently anticipated to be later this
week.
Easley-1H
The fracture stimulation of the Easley-1H well is well advanced and the
operational design is similar to that carried out on Morgan-1H. Following
completion of this operation the well will be flowed directly to sales.

A further announcement will be made as significant developments occur.

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.

cyril

http://www.asx.com.au

From ADI announcement, flow rates of both Morgan and Easley.
cyril

65279;

5th May 2010

Empyrean Energy PLC

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

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



Further success at Sugarloaf.



Empyrean is pleased to provide the following update on operations at the Sugarloaf Project within the Sugarkane Gas & Condensate Field, Texas.

Morgan-1H

Following the successful fracture stimulation of approximately 4,400 ft of horizontal section as per the frac design, the Morgan-1H well was flowed back to sales commencing on 27th April 2010. The well production has now stabilised and the following Initial Production rate was achieved:

5.16 mmscf/d Gas & 2,046 bcpd or 31 mmscfe/d



Easley-1H

Following the successful fracture stimulation of approximately 2,750 ft of horizontal section as per the frac design, the Easley-1H well was flowed back to sales commencing on 1st May 2010. The well production stabilised relatively quickly and the following Initial Production rate was achieved:

6.81 mmscf/d Gas & 780 bcpd or 17.9 mmscfe/d

Whilst these initial rates are very encouraging, the following points should be noted:-

These values are the maximum average rates achieved over consecutive 24 hour flowing periods since the wells were brought on line.

The gas equivalent rates have been calculated using a 12:1 conversion ratio and a 25% uplift in the gas rate based on the observed high calorific value of the gas produced within the field to date.

These are initial production rates observed during clean up and as such are not yet indicative of a short or long term production profile.

The wells still have considerable fluids to recover from the fracture stimulation operations.

The wells are currently producing through the production casing. A production tubing string will be installed in due course in each well.



A further announcement will be made as significant developments occur.



Commenting today, Executive Director Tom Kelly said "Hilcorp is doing an excellent job as operator right now. Since their agreement to farm-in they have successfully brought 4 wells into commercial production. The objectives of the farm-out to Hilcorp included achieving a free carry on this appraisal stage of the project and partnering with an operator with the necessary experience and resources to successfully advance the project into the full development phase. These objectives are being met. The initial production rates from Morgan and Easley are at the top end of expectations and the combined gas and condensate rates compare very favourably with initial production rates within the regional Eagle Ford Shale trend. We look forward to the results from the fracture stimulation of the Rancho Grande well in due course."

cyril

Just checking the producing fogures,
Morgan,Easley and Weston have a combined total of
17.65mmcfg/day and 3240bopd now at 3% thats works out at
529500mcfg/da 97.2bopd

Kunde,Baker1 and 2 combined produce,
8.8mmcfg/day and 1910bopd now at 7.5% =
660,000mcfg/day 143.25bopd

The overall total = 1.19mcf/day 240.67bopd to EME
call it 300bopd for ease of working
At $80bo that works out at
300*80*330*0.6612 =5.24m gross/year

EME's M/Cap is less than 12m(with the new placing)and have in the region of 4m in cash. That's my rough calc's?
cyril

and the market says, "how dull!"

Thats what you more or less said of CHL and it has since 3 bagged.
cyril

so keep praying and don't forget to tell us all about all the crap you hold that proved to be exactly that

Oh dear it does seem like i've touched a nerve? lol

As usual posted in your thoughtful,constructive and informative manner.

cyril

touched a nerve?????
if you bought every single penny stock, you would be bound to find a few that performed well
however, eme has a very long history of promising to deliver and then failing dismally to do so .... go take a look at their 3/5 year chart

Too many shares issued at such a low price, unfortunately.

ipse dixit

Unsolicitated takeover offer for aussie JV partner ADI?????
cyril

Finals out.
As the fifth anniversary of Empyrean Energy plc ("Empyrean" or the "Company") listing on AIM approaches, I am pleased to report that the Company is very well positioned to grow and capitalise on both its exploration and "production development opportunities".
cyril

When will this company actually state what its share of production is from its many projects, all in a comprehensible table, or is it too little and therefore embarrassing? No wonder it does not get much attention.

when will you guys walk away from this crock of shit?

Shareure, the latest producing wells Easley,Weston and Morgan are 3%,the combined total rougjly 17.5nncfg and 3200bopd,now awiting fRancho Grande(also 3%) fraccing result. The other roducers,Konde,Baker1&2
are at 7.5% with a combined total of 8.8mmcfg ad 1900bopd.
Fron the ADI's reply to the hostile take over the indepenndent CPR,he believes the value to be worth some 50% nore than offered ob the potential of Sugarloaf.At this valuation EME would come in roughly 10p+2p cash?
the ADI's report can be accessed via the ASX.com.au.
cyril

The Cartwright No.1 well spuds

Empyrean Energy Plc is pleased to announce that it has been advised by the
operator, Krescent Energy Company LLC ("Krescent"), that the Cartwright well
commenced drilling at midnight on 29 May 2010.

The well has now been drilled to 163 feet and currently drilling ahead.

The well is targeting as its primary objective the regionally productive,
fractured Upper Cretaceous Austin Chalk.

A second objective is the Saratoga Formation of the same age.

Cartwright No.1 vertical phase will be plugged back to 14,300 feet, then a
directional lateral will be drilled to a distance of between 3000-5000 feet.

Empyrean has a 10% working interest in this well.

cyril

that'll add massive value to the company and sp!

Total Gas Production (mmscf)
Total Condensate Production (bbls)
Average Daily Equivalent Gas Rate (mmscfe/d)*

Morgan-1H
109.4
38,500
19.97

Easley-1H
125.9
12,212
10.13



* The equivalent gas rates have been calculated to reflect value using a 12:1 conversion ratio for condensate and a 25% uplift on gas equivalent volumes due to the high calorific value of the produced gas.

These additional production figures continue to be very encouraging for the economics of the field.

Rancho Grande -1H

Empyrean has been advised by the Operator that the multi-stage fracture stimulation operation of the Rancho Grande #1H well has now been completed and the well is presently unloading. A production update will be provided to the market once stabilised flow has been achieved.

Kowalik-2

Empyrean has been advised by the Operator that the Kowalik-1 well location will be twinned with a new well, which is planned to spud in July 2010. This decision has been made in light of the sub-optimal original well design for the now preferred completion activities and the previously reported operational difficulties at the well. The Kowalik redrill will be the first of a number of Sugarloaf wells to be drilled during this calendar year where all Joint Venture partners will contribute to costs and derive revenue on a post farm out basis. Because of Empyrean's increased working interest in the original Kowalik well the company will hold an 9% working interest in the planned redrill.



A further announcement will be made as significant developments occur.

cyril

Seems like the management are late again with the todys news?

Rancho Grande #1H
Gas Production Rate 3.19 (mmscf/d)
Condensate Production Rate 1170 (bbls/d)
Average Daily Equivalent Gas Rate 18.00 (mmscfe/d)*

Above rates on reduced choke.
cyril