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Further Exploration Risk Mitigation on China Block
Further Exploration Risk Mitigation on China Block.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0297Z Empyrean Energy PLC 15 May 2019 \n\nThis announcement contains inside information\n \nEmpyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas\n \n15 May 2019 \n \nEmpyrean Energy PLC (\"Empyrean\" or the \"Company\")\nPresence of Gas Clouds on 3D seismic further mitigates exploration risk on \nJade and Topaz Prospects, offshore China Block 29/11\n \nHighlights\n \n· Comprehensive analysis of 3D seismic confirms presence of well-defined gas clouds over Jade and Topaz prospects \n· All nearby CNOOC Oil discoveries show similar well-defined gas clouds in overburden whereas dry wells do not have gas clouds in overburden \n· The detection of gas clouds in seismic data is therefore being used as a tool in an effort to distinguish between hydrocarbon charged traps and dry wells in the area\n \nEmpyrean Energy Plc, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to advise that comprehensive analysis of the excellent quality 3D seismic data, acquired by Empyrean during 2017, confirmed the presence of well-defined low reflectivity zones in the overburden strata above the Jade and Topaz structures on offshore China Block 29/11. These low reflectivity zones are commonly referred to as 'gas clouds' within the oil and gas industry. In good quality 3D seismic, presence of gas clouds has been used as an effective exploration tool in prolific basins worldwide including the North Sea, Gulf of Mexico, and the Malaysian Sabah basin contributing to the discovery of significant amounts of oil. \nFor example, South Arne Field in the Danish North Sea was discovered by Hess Corporation, using the presence of gas clouds as an indication of a large oil field. Furthermore, all seven large oil fields, including the giant Kikeh Oil Field offshore Sabah, Malaysia have well-defined gas clouds.\nIn order to increase the confidence of using the presence or absence of gas clouds as a valid exploration tool for Empyrean's Block 29/11, China National Offshore Oil Company (\"CNOOC\") allowed Empyrean to independently analyse their 3D seismic data, immediately west of Block 29/11 over four large oil discoveries located close to Empyrean's Block 29/11.\nEmpyrean h...