Empyrean Energy

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

Is that the same well, sww? Milagro #1 vs El whatever? I'm confused.

AL .... pretty muted reaction to what i would have thought was quite a significant rns .... any thoughts? .... not that i hold!

Cynic, this is not significant at all considering it is just 14 feet and questionable of oil mixed with water.

thank you for that elucidation!

cycnic - sorry, went to bed earlier so didn't see your reply.

I thought the quote sww had was Sugarloaf until I looked at the link. I'm still not sure what info relates to which well there. Either way, as hlyeo98 says, 14ft ain't much. Having said that, I've drilled along reservoirs as thin as 7ft and it still paid for itself - and that was offshore North Sea, not in cheap Texas!! Never say never. Have said that, Texas has more holes in it than Swiss cheese. There isn't anything but small stuff left - that is certain, which is why tihnking EME could possibly make it big is pretty daft.

We'll see what these things flow at. It' just odds on to be small really.

Just checking my calculations, median estimates for the total Maragarita shallow propects is 9 Bcf.

So therefore after 6 wells, all being commercial success, then EME could get net to them 3.46 Bcf as they hold 44%.

EME are as yet no in the deep programme, just the shallows.

Does not seem a lot, and cannot see it being exciting, unless flow rates are very high and give payback in a short period of time. Am I right in the 3.96 Bcf net to EME ?

To quote :

""AIM listed Empyrean Energy PLC (Empyrean) has farmed into the drilling of six of the inventory of shallow oil and gas prospects at 2,000 metres depth) on completion of the six shallow well program. The drilling of the six shallow wells will be broken into two phases, the Initial Wells program and the Final Wells program.

A commercial success in the Initial Wells program will trigger the Final Wells program and Empyreans immediate commitment to this phase of the program.

The shallow prospects in the Initial Wells program with mean target outcomes and final well depths are as follows;

El Viejito Prospect 1.6 BCF 1,920 metres - completed, outcome subject to testing
Milagro Prospect 2.0 BCF 1,585 metres - commenced after El Viejito #1
Dos Dedos Prospect 1.2 BCF 975 metres - to commence on / or about 20 February 2007

The Final Wells program prospects will be finalised from the shallow prospect inventory when the outcome of the Initial Wells program is known. These prospects have target size outcomes similar to the Initial Wells program.

The Initial Wells program is expected to run until late February 2007. The Final Wells program is planned to commence in late March 2007 and be of a similar duration to the Initial Wells program. Development of any commercial discovery will be a matter of no more than a month as the project area is crossed by a number of gas pipelines with access rights and capacity available to tie into. "

175 mscfd (175,000 scfd) is around 30 boepd or so..........

Not a busting lot, but at least something. 44% net to EME before tax is around 13.2 boepd for EME....not quite so exciting.

So the summary would be, presently it looks like EME have their first potential production, and its 13.2 boepd (net before tax).

If the other shallows are commercial they might even make it to being a producer with 50 boepd !!!!




Tuesday, 6 March 2007
Announcements
Australian Stock Exchange Limited
Level 4, 20 Bridge Street
SYDNEY, NSW 2000
Dear Sir/Ms,
RE: Shallow Drilling Program Update Project Margarita
1) El Viejito Flows Gas from Well Test
2) Dos Dedos #1 Reaches Total Depth
3) Milagro Well Test Timing
1. El Viejito #1 Well

The flow test on the El Viejito #1 has been successful, with the well currently on a 24 hour test flow period (due to finish at approx. 5:00 PM WST March 6, 2007). The well has flowed at a rate up to 210 mscfd and is currently flowing at a stabilized rate of 175 mscfd, both flows were constrained at
surface by the choke size while engineering data is obtained. Well flowing and bottom hole pressures are good and it is expected that the flow rate when in production can be increased from the current level.

Gas contracts and regulatory approvals for a gas sales line are currently being sought for the well.
2. Dos Dedos # 1 Well
The Dos Dedos well reached total depth on February 3, 2007 at approximately 9:30PM WST. Wireline logging operations have been conducted and the interpretation of this data indicates a total gas pay of 3.5 meters over 3 zones. This is within the range of expected pay predictions pre drill.
The well has been completed with production casing in preparation for a flow test. Dos Dedos is the third well in the Margarita Project shallow drilling program, all of which have encountered oil and or gas and all have been completed for flow testing. Drilling operations will take a break while the rig is contracted to another operator, a further release will be made when drilling operations on the remaining 3 wells in the shallow program recommence.
3. Milagro #1 well Well flow testing is now anticipated to commence during the evening of Wednesday (WST) March
7, 2007.

No danger of anyone trying to take this lot over for their reserves then. ;-))

I'd like some numbers on the pressures. To say they "are good" is a bit flaky

Sadly, just yet more failure to report. Been a bear on EME from over 100p, and nothing to change my mind as yet.



12 March 2007

Company Announcements Platform
Australian Stock Exchange Limited
Exchange Centre
20 Bond Street
SYDNEY NSW 2000

Via ASX Online
SUGARLOAF HOSSTON WELL TESTING PROGRAM

Sugarloaf-1 Well Testing Program - (Adelphi 20% interest)
Fracture stimulation of the Hosston Formation was successfully carried out but on flow-back, only minor gas was recovered at a rate too small to measure. The Hosston Formation will now be plugged off to enable the testing of the shallower Cretaceous carbonates to proceed.

The most significant gas indications in the well were obtained in Cretaceous carbonates above 14,000 feet, where gas shows during drilling and wire-line log interpretation suggest the presence of potential gas pay. The timing for testing of these indications will be advised as soon as possible.

Participants in the Sugarloaf-1 well are:

Adelphi Energy Texas, Inc.* 20.0%
Texas Crude Energy Inc (Operator) et al# 41.5%
Aurora Oil and Gas Ltd 20.0%
Eureka Energy Ltd 1 12.5%
Empyrean Energy plc 6.0%

* a wholly owned subsidiary of Adelphi Energy Limited
# includes other private US companies / investors

Further information on this project can be obtained from Adelphis website at
or contact Chris Hodge or Alex Forcke on 08-9263 4600 or
www.adelphienergy.com.au
info@adelphienergy.com.au.
Yours faithfully

ALEX FORCKE

Executive Chairman

Adelphi Energy Limited
Adelphi Energy Limited
Ground Floor, 88 Colin Street, West Perth, Perth Western Australia 6005
PO Box 574, West Perth, Western Australia 6872
Tel: 61-8 9263 4600 Fax: 61-8 9263 4688

Email: info@adelphienergy.com.au

http://www.adelphienergy.com.au/files/asx/ASX%20Release%2012%20March%202007%20-%20Hosston%20Test%20Results.pdf

;-))))

Reason for todays drop.

http://moneyam.uk-wire.com/cgi-bin/articles/200703120800137438S.html

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

AIM quoted Empyrean Energy PLC today announces that fracture stimulation of the
Hosston Formation was successfully carried out but on flow-back, only minor gas
was recovered at a rate too small to measure. The Hosston Formation will now be
plugged off to enable the testing of the shallower Cretaceous carbonates to
proceed......................................

Woof!

quite tempting to go short

This is about to achieve lower lows imo

Where are the bulls of this shower? It's very quiet.

Sold the last of my stock in EME last week, thank goodness. Us bulls have been emasculated!

big spread at the mo, but if i can deal well inside it, may indeed go short, if only out of braggadocio rather than with a serious position

Surely cynic, at 15million approx the market cap on this one is too small for you, haha.

anything over 10m is doable ..... how long EME stay above that level is another matter, just as happened with BFC

Spread too big for me, cynic, but best of luck. Dunno how much downside there is.

HARRY - commiserations. C'est la vie