Empyrean Energy

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

Slowly but surely.

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



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

Production Update

The following wells have reached the 60 day production milestones:


Fractured Horizontal Length (ft)
Total Gas Production (mmscf)
Total Condensate Production

(bbls)
Average Daily Equivalent Gas Rate (mmscfe/d)*

Morgan #1H
4400
201
65,200
17.2

Easley #1H
2750
221
19,600
8.5




* 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. Further production updates for these wells will be provided in quarterly reports going forward.


cyril

Looks like news on the way,could be Cartwright at T/Depth? Whatever it is the SP is moving strongly northwards?
cyril

Article which is causing a stir.
cyril


"When this is all over, I think I'll buy myself an airplane..."

Last month, I spent several days driving along the coastal plains of south Texas... much of it with one of the most successful independent oilmen in the country.

Like most Texans, my guide on the trip was a natural risk-taker... and an eternal optimist. And while a lifetime of hard work and drilling success has brought him considerable wealth, it's this region of south Texas that has him contemplating "personal airplane" levels of wealth.

I spent about two weeks in the area... inspecting drill sites, looking at wells, and reviewing data from drill logs. My other tour guides were a bunch of genuine Texas wildcatters. Collectively, these guys probably have 100 years of experience scouring the Texas plains for oil and pumping out what they find. They've gone through plenty of booms and busts. It takes a lot to turn their heads.

And in this region the Eagle Ford shale field they all think they've found the greatest payday they'll ever hit.

As you've probably read in these pages, the Eagle Ford is a huge shale formation that begins near the Mexican border and sweeps 400 miles northeast almost to Houston. It's best known as Texas' "oil kitchen." Buried more than 12,000 feet underground, oil from the Eagle Ford leached out over the centuries into the more porous limestone above it, creating some of the most prolific oil reservoirs in the Gulf of Mexico basin.

Drilling shale formations like the Eagle Ford for the natural gas trapped inside has been the most important trend in the U.S. energy sector over the last decade. Developing the tools to extract shale gas is singularly responsible for an explosion of U.S. natural gas reserves. Now, oil and gas explorers are applying those tools to the biggest shale formation in Texas.

This play is new enough that it's difficult to offer a reliable estimate on how much oil and gas it holds. But consider independent explorer Petrohawk, which kicked off the discovery. It had no production here in 2008. Today, it's producing more than 63 million cubic feet of natural gas and 1,000 barrels of liquids (like butane and gasoline) per day.

Also... two of the early drillers in the region, Pioneer National Resources and EOG Resources, believe their assets hold 1.2 billion and 1 billion barrels, respectively. If Pioneer and EOG are correct in their assessments, this field could produce 5 billion to 10 billion barrels through its lifetime. That would make Eagle Ford the third-largest oil field in the U.S. today.

At one point during my visit, an oncoming semi was so big it forced us up on the side of the dirt road. We had to drive into the sunflowers to avoid a collision. The truck was moving a huge new drill rig, one of the many flooding into southeast Texas.

In March, 43 rigs drilled wells in Eagle Ford. That's up to 61 drilling there today. Nearly the entire fleet (91%) is in use. There just isn't any spare capacity. More rigs need to come into the region, and they will. In the Haynesville shale up in Louisiana, one in four rigs sits idle. In the Barnett, just up the highway in Fort Worth, one in five rigs is out of work. I expect some of those rigs to make the trip to south Texas over the next few months.

The land rush is on. Men and equipment are flooding into the area. Big operators have hundreds of thousands of leased acres. India-based Reliance Energy just spent $1.3 billion (roughly $10,000 per acre) to partner with Pioneer National. Giant oil companies like Shell and ConocoPhillips are working side by side with big independents like Petrohawk and EOG. Nearly all own hundreds of thousands of acres here.

My favorite way to invest in this idea is through companies with lots of unexplored, undeveloped acreages under ownership or lease. Petrohawk, EOG, and Pioneer all own or lease substantial portions of the Eagle Ford. I also recently told my S&A Resource Report subscribers about two companies that throw off huge dividends, yet could skyrocket in price because of their Eagle Ford land positions.

I told my readers to get in soon. One of the oilmen I rode with said the Eagle Ford will easily be the biggest discovery of his more than 30-year career... and maybe the largest in the history of the U.S. oil industry.

Good investing,

Matt Badiali

P.S. As I mentioned, I just told S&A Resource Report readers about two stocks with large land holdings in this area. Both have the potential to rise at least 200% as land around here booms. Plus, they both offer their shareholders safe 8% yields on their money while they wait for the big payoff. You can read all about them in my July issue. Learn how to come on board as an S&A Resource Report subscriber here.

AUT quarterly report can be found on the ASX.
From that report, Kowalik 1-R
currently 17650ft+ would seem to be the reason for SP activity?
cyril

13th August 2010
Empyrean Energy PLC
("Empyrean" or the "Company"; Ticker: (EME))

Bulletin Board investigation

The board of directors of Empyrean, the oil and gas exploration and production
company with assets in the USA, today announces that the company is
investigating multiple potential cases of Bulletin Board participants posting
possibly defamatory, misleading and false statements about the company and its
management over various internet chat-room sites.

The decision to take further action against these defamatory posters has come in
the wake of similar London Stock Exchange - AIM listed companies being
successful in the High Court of Justice in obtaining Norwich Pharmacal orders
enabling them to instruct the relevant Bulletin Board operators to disclose the
identities of the offending posters.

The Company is concerned that some of the offending posters have not only been
defamatory but may also have breached various regulations including market abuse
and market manipulation.

Commenting today, Empyrean Executive Director - Tom Kelly said "The internet
provides a great platform for free speech and the dissemination of information,
however the common law and other relevant regulatory principles and protections
need to apply and be enforceable. This is a shot across the bow for anyone
contemplating using the Bulletin Boards for disseminating defamatory or
deceitful information about listed companies or their management. The culprits
that have already breached regulations and think that they can hide behind
multiple internet names and pseudonyms should know that there is a clear and
easy pathway to reveal their identities and bring action against them - and this
process has commenced. It is our view that greater regulatory scrutiny is needed
in this area of internet based regulatory abuse."





For further information
Empyrean Energy plc
Tom Kelly
Tel: +618 9321 6988
Astaire Securities Plc
Shane Gallwey / Toby Gibbs
Tel: +44 (0)207 492 4750

This information is provided by RNS
The company news service from the London Stock Exchange
END

Also announced spuddng of another well.
cyril

Sh*t cyril pack your bags quick...I'll put you up ......for a small fee....lol.,.

no wonder EME has been such a lousy share to follow ...... silly me thought it was all down to the management and company's lack of performance in living up to its various "spiffing" announcements and similar

baler ,cheers, LOL.
cyril

u can tell this will rocket soon...all the usual city tossers arent posting

yes u know who you are

bobsworth's in...QXL fame

Maestro

You said you bought PET @ 18p , did you make a profit ?

yes of course...why do you ask?

Anyone know how soon news is due on this one? Was told December but don't know if that was genuine or just hope.

kelly said 23rd december for results but that could be a lie..came from advfn bb

EME are very good at lies, half-truths and misleading announcements ... they've had years of practice to perfect

Careful now .

cynic...Kelly has made a note of your comment

RNS update:

28 February 2011



Empyrean Energy PLC

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



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

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



Production Data

The following wells have been on production for a period of 60 days and Empyrean is pleased to provide the market with an update on the produced volumes during that period:-




Working Interest
Total Gas Production (mmscf)
Total Condensate Production (bbls)
Average Daily Equivalent Oil Rate (boe/d)*

Urrutia #1H
3%
102.3
35,084
869

Kowalik #1R
10.2%
90.2
28,825
731


*The equivalent barrels per day production rate has been calculated on a simple 6:1 ratio.



Remedial operations on Direct Assets #1H well were successful and the well commenced production on 27/01/11 on a restricted choke setting. Over the most recently reported 5 day period the well averaged the following production rates.


Working Interest
Average Daily Gas Production (mmscf/d)
Average Daily Condensate Production (bbls/d)
Average Daily Equivalent Oil Rate (boe/d)*

Direct Assets #1H
3%
1.48
479
726


*The equivalent barrels per day production rate has been calculated on a simple 6:1 ratio.

Due to the length of time between the fracture stimulation of this well and it being unloaded to sales, some of the pressures created during the stimulation process had bled off into the formation; this is a likely explanation of the lower early production rates observed in this well.

Operations

Holman #1H (3% WI)

This well has been drilled and cased with a Total Depth of 17,570 ft. The fracture stimulation of this well commenced on the 24th February 2011 and Empyrean will update the market when stabilized flow has been achieved.

Jordan #1H (3% WI)

This well has been drilled and cased with a Total Depth of 16,472 ft. This well will be fracture stimulated in due course and Empyrean will update the market when stabilized flow has been achieved.

PMT #1H (1.11% WI)

This well location lies across the Sugarloaf and neighbouring Hilcorp operated AMIs in which Empyrean does not participate. As such Empyrean holds a blended working interest of 1.11% in this well. The well spudded on 14/2/11 and Empyrean will provide the market with an update once the drilling of this well has been completed.

Buehring #1H (3.0% WI)

Drilling operations commenced on the 18/02/11 and Empyrean will provide the market with an update once the drilling of this well has been completed.

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.

This is due a re-rating. It is selling at a discount to its drilling partners and is doing the rounds in the City. The sp has been considerably higher when there were less proven reserves, but it has been overlooked since.