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Dempsey Gas Well Update
Dempsey Gas Well Update.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 4174W Empyrean Energy PLC 14 November 2017 \n\nThis announcement contains inside information\n \nEmpyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas\n14 November 2017\nEmpyrean Energy PLC (\"Empyrean\" or the \"Company\")\n \nDempsey Gas Well Update\n \nEmpyrean Energy (EME:AIM), the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has been informed by Sacgasco Limited (ASX:SGC) (\"Sacgasco\"), the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that flow-testing and completion of the well is continuing as planned. \n \nThe well's lowest zone, a thin sand with poor reservoir characteristics based on the wireline logs, has been perforated and has flowed clean, dry natural gas and no water. The gas has flowed at rates that are sub-commercial at current gas market prices. However, analysis of this zone, and its full potential, remain at an early stage. The tested zone has been isolated and preparations are underway for the next stage of testing which will target the next shallower zone of gas shows. \n \nEmpyrean CEO Tom Kelly commented, \"Testing of Dempsey 1-15 is continuing in a safe and efficient manner. Whilst the lowest zone has been determined as \"sub-commercial\" at the current gas prices, we remain optimistic as to the potential of the Dempsey 1-15 well following the significant gas shows encountered whilst drilling and we look forward to seeing more encouraging results from further upcoming tests.\" \n \nDempsey Prospect and Dempsey 1-15 Well\nDempsey is a large structure mapped with 3D seismic and interpreted by Sacgasco to have the potential to hold a prospective resource of over 1 Tcf of gas in up to seven stacked target reservoirs. Individual, unrisked Deterministic Prospective Resources for the primary targets range from 116 Bcf to 352 Bcf of recoverable gas. Should all the stacked reservoirs be full of gas, the cumulative unrisked recoverable Prospective Resources within the Dempsey prospect could exceed 1 Tcf.\n \nThe primary targets are interpreted in a series of Cretaceous sandstone reservoirs that exhibit structurally consistent amplitude anomalies similar to those that are observed on seismic data elsewhere in ...