Empyrean Energy

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

niceonecyril and shadow, I posted your posts over the way, I should have asked first so apologies, let me know if it is a problem and i will remove.

shadow, anything more you can add, seen you post can you expand, whilst i would hope you are correct always good to confirm matters.

'This week will reveal for EME that this share price will move up dramatically to new highs.'

A new high would be over 170p !!

beat me to it ...... load of crap!

UPDATE ON OPERATIONS AT KOWALIK #1H
Aurora Oil & Gas (Aurora) is pleased to provide the market with an update on operations at the Kowalik #1H well within the Sugarloaf AMI, which is part of the Sugarkane Gas and Condensate Field.
Kowalik #1H
Aurora has been advised by the operator, Texas Crude Energy Inc (TCEI), that as of 06:00hrs 02/09/08 (US CST) the production casing has been run and cemented at a measured depth of 11,861 ft. The preparations and rig up on surface for the reservoir section has also been completed and the drilling assembly was being run in the hole to commence drilling the final build section into the target chalk. The horizontal section is targeting the upper pay interval that has been reported as successfully producing gas and condensate in three wells in the adjacent acreage.
The Joint Venture is working towards this being the first in a continuous sequence of 4 wells.
cyril

34p to 41p inside a week(and what a week) hmm, how did you discribe it?
cyril

sp has done well in a shit market, especially today

But why has it done so well, is the question?
ps
i note your discription of the market is as you discribed this share?
cyril

my opinion of EME has not changed, and i only keep a casual eye on it

Miniscule volume.

The rise from 38p to 41p for eme indicates that the city people have got hold of vast amounts of stock as news is arriveing from the sugarloaf-1. Apart from the vast flows of reserves due, this announcement will be truly welcome, and Eme will rise dramatically in September which is a good month for EME. 87p-95.53.

Kowalik #1H Well

Empyrean has been advised by the operator of the Sugarloaf AMI, Texas Crude Energy Inc ('TCEI'), that as at 6am Texas time on 9 September 2008 the well was drilling ahead in near horizontal hole within the target upper part of the Austin Chalk at a measured depth of 13.385 feet. Approximately 1,400 feet of horizontal hole has now been drilled with total gas recorded in the range 300 to 700 units - up from a background of approximately 200 units. A small intermittent gas flare has been observed over the latest approximately 100 feet of drilling.

The horizontal section to be drilled is planned to be approximately 6,000 feet in length and is targeting the upper pay interval that has been reported as successfully producing gas and condensate in Block A (TCEI JV Block A-1 and A-3 wells).

Empyrean has an 18% working interest in this well.
cyril

Commenting on the progress of the Kowalik well, Chris Hodge the Managing Director of Adelphi advised that a number of measures have been put in place to ensure that the horizontal section is drilled in the prospective upper part of the Austin Chalk; these include underbalanced drilling, new directional drilling equipment and additional logs to aid geosteering. These measures have been effective and the well is progressing according to plan. The first signs of flares while drilling are also encouraging. Based on progress to date, the well will take approximately 2 more weeks to complete drilling the horizontal section."
cyril

VPE 2008 annual report. Year ending 30 June.

The Margarita Gas Exploration Project in Texas produced 32.3 million cubic feet of gas and 1,767 barrels of oil. ( covers VPE share only at 20%. EME share 44% )

Expressions of interest have been received from industry parties for the purchase of the oil and gas
assets of Victoria Petroleum USA, Inc.

http://www.vicpet.com.au/Reports/download/VPE_Financial_Report_2008.pdf


Interesting annual report from SUN.
Proposal from VPE for EME to take over Eagle in toto.

Notwithstanding high oil prices, there has
been no progress on the Eagle Project farm
out in California during the financial year. As
a consequence, at the end of June 2008, the
Operator presented a proposal to joint venture
partners to hand their respective interests
over to Empyrean Energy PLC for a small
consideration. This would relinquish the joint
venture partners of any further liabilities and
costs on the project. Sun Resources accepted
the offer for its 10% WI post financial year,
and will be exiting this asset when legal
documentation is completed.
cyril

11th September 2008

Empyrean Energy PLC

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

Sugarloaf Block A, Texas USA

TCEI JV Block A # 4 well reaches total depth

Encouraging gas observations and flares over more than 1500 feet

Operator preparing the well for setting production casing followed by testing

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA, is pleased to provide the following update on operations at Block A within the Sugarloaf Prospect:

Empyrean has been advised by Texas Crude Energy Inc that the TCEI JV Block A #4 horizontal well has reached a total measured depth of 15,084 feet. Current operations are circulating gas out of the drilling fluid in preparation to run production casing. The well will then be tested.

During drilling, high gas readings and flares have prompted the operator to call total depth earlier than anticipated as they believe the gas observations from an interval of more than 1500 ft in length suggest sufficient encouragement to provide for a good commercial outcome. The early total depth has also meant that this well has been drilled under the budgeted cost.

Multiple gas readings in excess of 500 units (background gas approximately 50 units) and multiple flares measuring over 20 feet in height were observed during drilling of the 1500 ft interval.

Further updates will be provided as significant developments occur.

Empyrean has a 7.5% working interest in this well.

Commenting today, Empyrean executive director Tom Kelly stated 'The gas readings and flares provide great encouragement for Empyrean on this well. We look forward to the testing in due course.'
cyril

LONDON, Sept 17 (Reuters) - Empyrean Energy Plc:
* Says operations recommenced on the block B of the Sugarkane gas and condensate field
* operations had been suspended in preparation for Hurricane Ike
* Empyrean says no damage sustained

i wonder if Job owns these

Sugarloaf Prospect, ('Sugarloaf'), Block B, Texas USA

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA provides the following update on operations on Block B which is part of the Sugarkane Gas and Condensate Field:

Kowalik #1H Well

Empyrean has been advised by the operator, Texas Crude Energy Inc ('TCEI'), that at 00:00hrs on the 12/09/08 (US CST) the rig suspended operations in preparation for Hurricane Ike, the rig was also evacuated as a precaution. Empyrean has been informed that the rig sustained no damage from the hurricane and operations recommenced on the 14/09/08 (US CST).

Since last week drilling of the horizontal section of Kowalik #1H within the target Austin Chalk has continued and as of 06:00hrs 16/09/08 (US CST) the well had reached a measured depth of 13,835 feet. Following minor changes in the rig configuration to more accurately measure gas readings, TCEI have advised an increase in background gas values to 1,000 - 1,400 units. Gas flares have been observed of a more sustained and substantial nature whilst drilling during the last week and a significant flare occurred following a wiper trip.

Whilst encouraging the commercial significance of these gas shows and flares will not be known until the well has been flow tested.

The horizontal section is targeting the upper pay interval that has been reported as successfully producing gas and condensate in Block A (TCEI JV Block A-1 and A-3 wells).

Empyrean has an 18% working interest in this well.

Further updates will be provided following developments.

cyril

Fron todays Oilbarrel article.

Empyrean Energy Takes Encouragement From Kowalik-1H Drilling As Sugarloaf Project Sustains Forward Momentum...

The London-based Empyrean Energy continues to make good progress with its high impact Sugarloaf project in Texas, sustaining the forward momentum from work carried out earlier this year.

With some established production behind it from the Margarita project on the Gulf coast the AIM-listed group has always been taken seriously by investors. By and large, it has been insulated from the slings and arrows of outrageous fortune that have struck down many a peer E&P firm in recent times.

If anything, the only erratic share price movements have been upwards. In April, Empyrean shares surged almost 90 per cent on news that a well on Sugarloaf tested commercial quantities of gas and condensate.

At the time, this was the first of a series of discoveries to test in the project area with the Texas Crude Energy joint venture block A-3 well flowing at 1.9 million cubic feet of gas per day and over 460 barrels of condensate per day. The company has subsequently talked of flow rates significantly above this.

However, Empyreans shares have been known to drift following these lofty peaks, something that may only be remedied once more production starts seeping through.

In its most recent update, Empyrean said that early gas readings from the Kowalik-1H well, now underway, were above expectations. It said that elevated gas readings increased from a background of 120 units to approximately 400 units when drilling through the Austin Chalk interval.

Operator Texas Crude Energy is targeting the same interval that produced in the earlier Block A-1 and A-3 wells. It plans to use horizontal drilling to access the interval. The well has now reached the vertical pilot hole target depth of 11,970 feet, which will be used as a start point for directional drilling to access the target area.

These are early findings and early days. As oilbarrel.com noted in its last coverage of Empyrean at the start of July, caution is necessary with the Austin Chalk reservoir.

Nonetheless, in the Austin Chalk some 5 tcf of gas and 600 million barrels of oil have been produced from the Giddings and Pearsall fields alone. Though Empyrean is the smaller partner here these numbers most certainly are not.

Empyrean also updated investors this week on the Kennedy-1H well, which could be the fresh production investors are seeking. This is currently shut-in as the operator installs a production facility to tie-in the well to a nearby gas transmission line.

Remember also that this is an area of the US with extensive energy infrastructure ready to eat up any new gas supply that comes along.

At the time of shut-in the well was producing at approximately 180,000 cubic feet of gas per day, slightly lower than earlier figures released, and 33 barrels of condensate per day.

Texas Crude Energy plans to monitor initial production performance from the well to assess whether to perforate and fracture stimulate the additional 3,000 feet of lateral section.

What can be said is that output from Sugarloaf seems likely to be an exponential step up from what is being produced from Margarita. In time, the operator is expecting a 44 well development on Empyreans acreage, and in a mature gas-hungry market such as the US this is a big deal.
cyril

All eyes on the ASX tonight with updates on a couple of wells, although next
week a more relistic time scale for flow rates.
cyril

Sugarloaf Prospect, ('Sugarloaf'), Block B, Texas USA

Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA provides the following update on operations on Block B which is part of the Sugarkane Gas and Condensate Field:

Kowalik #1H Well

Empyrean has been advised by the operator, Texas Crude Energy Inc ('TCEI'), that at 06:00hrs on the 23/09/08 (US CST) the well had reached a measured depth of 14,385 ft, which equates to approximately 2,500 ft of the planned 6,000 ft of horizontal section within the Austin Chalk.

The well has continued to produce gas whilst drilling, which has led to sustained flaring activity. In addition, when routine operations such as connections reduce the down hole pressure, larger flares have been observed on surface, indicating a response to drawdown. Elevated gas readings of approximately 1500 units have been consistently measured during the drilling of this portion of the horizontal section.

Whilst encouraging the commercial significance of these gas shows and flares will not be known until the well has been flow tested.

The horizontal section is targeting the upper pay interval that has been reported as successfully producing gas and condensate in Block A (TCEI JV Block A-1 and A-3 wells).

Empyrean has an 18% working interest in this well.

cyril