Empyrean Energy

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

no need to shout either ..... i may be old, but don't yet need an ear trumpet

Interesting chart now. Been getting more bullish last week or two. I've no fundamental reason to buy obviously, but will watch this upturn. Downtrend appears broken. Hmm.

Picked off TMF

http://imagesignal.comsec.com.au/asxdata/20061012/pdf/00655868.pdf

Go to page 27

Thats the news we were waiting for.....thanks....come on 1.90 +
well done to those who stood by EME.

Yeah, well done!

Empyrean Energy PLC
17 October 2006



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


Operations Update - Eagle North-1 in California, USA


AIM quoted Empyrean Energy Plc today announces the following update on the Eagle
North-1 well, San Joaquin Basin, California, USA.

Victoria Petroleum NL as operator for the Eagle North-1 horizontal well on the
Eagle Oil Pool Development Project in the San Joaquin Basin has advised that the
deep workover rig at the Eagle North-1 location has completed fishing operations
and is currently preparing the Eagle North-1 well bore for a future re-entry and
side track to drill, complete and test the lower Gatchell oil sand zone.

It is not considered cost effective to continue operations to retrieve the
production valve and tubing conveyed guns in the horizontal well bore. The joint
venture partners have decided that the money spent continuing the work over
would best be spent on a future re-entry and side track from the current cased
Eagle North-1 well bore.

Planning has commenced for this future operation with the exact timing of the
operation subject to the availability of the required deep drilling rig,
equipment and personel.

The target zone for the re-entry and side track will be the 177 metres (580
feet) of the lower Mary Bellocchi Gatchell oil sand in the horizontal well bore
over the interval from 4,209 - 4,386 metres (13,810 - 14,390 feet).

The lower Gatchell oil sands have produced at rates of up to 223 barrels of oil
per day and 0.7 million cubic feet of gas per day from the 12 metre (39 feet)
interval of lower Mary Bellocchi sand in the Mary Bellocchi-1 vertical well, 366
metres to the southeast.

A successful Eagle North-1 horizontal well and its subsequent production
performance in the longer term will provide an indication of the potential size
of the Eagle Oil Pool.

Empyrean's Commercial Director, Tom Kelly commented - 'The Eagle Oil Pool
remains a very attractive appraisal target as we know that oil is there - we
just need to flow test.'


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

Turning into a comedy of errors at Eagle Pool - ouch

This a good one to wtch Big Al.

Any thoughts I ever had of buying have been well and truely put to bed.

Good luck to the holders though, (cause I'm a nice blokie).

Lloyds was entirely predictable.........

You shorting this Big Al :>))

No aj - was too slow. ;-(

You still holding or did you leap with a parachute? ;-))) Wot u doin' Xmas then?

sww

It was all a bit of a disaster at Eagle Pool when they have to set liner early halfway through the drilling of the drain hole. I did post that it did not sound like all was completely AOK. Disappointing for some I guess.

latest RNS looks like euphemistic shorthand for "shit!"

ROFLMAO!

Al ... from that, i assume you agree ..... for me, this company looks like the proverbial busted flush ..... too much bad news keeps coming out of the woodwork

cynic - never say never with these exploration companies. However, most in recent uears are run by muppets who rely on a promise to attain finance from the investing community and with the smaller players that invariably means us punters.

One well can make or break these companies. Unfortuantely, your average punter always believes the "make" bit. In exploring for oil and gas the hit rate is actually quite small. Luckily for many these days the price of oil is so high that they can drill the previously uneconomic fields and potentially make money. Unfortunately, technical difficulties can flip the economice the other way. IMO Eagle Pool is getting that way.

EME has had trouble in all prospects bar Sugarloaf thus far. I suppose they should get lucky some time, but what does it do for the fundamentals? Trade the chart and forget the numbers with these small outfits. Christ, BP is currently trading at a lower price than when oil was <$20. Go figure.

All IMO
Al
;-)

Hi you, didnt need the parachute (this time)...in at 77p out 1.22p! Didnt buy back in when we spoke but have a few now......waiting in the wings b4 I decide :>)

now xmas...if you mean the do well i told meany Ian i was going but he hasnt put my name up coz i dont know what i want to eat yet....cept you of course (it's my turn....yum yum)

Thanks for the explanation Big Al.

Very helpful and at the time too.

If I can find it again, I will post something on the GBP thread for you to look at and hopefully comment.

Empyrean Energy PLC
18 October 2006




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


Sugarloaf Hosston Prospect, Texas USA
-------------------------------------


AIM quoted Empyrean Energy PLC today announces that at 6am Texas time on 17th
October 2006 the Sugarloaf-1 exploration well, located in the onshore Gulf Coast
Basin in Texas, USA, was at a depth of 17,000 feet (5,183 metres) and the
operator was preparing to run 7 inch liner to be tied back into the 9 5/8 inch
casing set at 14,480 feet (4,415 metres).

Since the last report, the well drilled 2,520 feet (768 metres) of 8 1/2 inch
diameter hole, mostly in a Cretaceous age limestone, which was a secondary gas
target in the well. In this interval, several methane-only gas shows were
obtained. In order to isolate the extensive interval of limestone in
anticipation of higher pressures in the Hosston Formation target, drilling was
halted at 17,000 feet (5,183 metres) to enable a 7 5/8 inch liner to be run and
cemented in place.

Wire-line logs have been run over the interval 14,480 to 17,000 feet (4,415 to
5,183 metres) and preliminary interpretation indicates the presence of a few
thin zones of interest. A decision as to whether any zone is sufficiently
attractive to warrant production testing will be made by the joint venture once
the well has reached total depth and final logs are available.

After the 7 inch casing has been run and set, drilling will resume towards and
into the primary Hosston Formation target, which is expected to be reached
within a few days. Based on seismic data and an offset well the Hosston
Formation is anticipated to consist of more than 4000 feet (1,220 metres) of
inter-bedded sandstones and shales with the potential for multiple prospective
intervals.

The proposed total depth of 21,000 feet (6,400 metres) is expected to be reached
during November assuming trouble-free drilling



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.

Thought there'd have been a bit more comment today on this. Certainly moved the price earlier. ;-0

How can anyone comment on "thin zones of interest". As you say, the sp reflects the general feeling here.
All disappeared to other ventures. Maybe RKH, as they have found oil.

Thought we had "long term holders", HARRY. ;-)))