Business
Operations and COVID-19 Update
Operations and COVID-19 Update.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \n \n RNS Number : 2741I\n Empyrean Energy PLC\n 31 March 2020\n \n \n \n \n \n \n \n This announcement contains inside information\n \n \n \n \n \n Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas\n \n \n \n \n \n 31 March 2020\n \n \n \n \n \n Empyrean Energy PLC \n \n \n \n \n \n Operations and COVID-19 Update\n \n \n \n \n \n Empyrean Energy ('Empyrean' or 'the Company'), the oil and gas development company with interests in China, Indonesia and the United States, provides an update on its ongoing operations as global markets react to the rapidly-evolving circumstances around the spread of COVID-19.\n \n \n \n \n \n Indonesia\n \n \n \n \n \n Following the highly-successful appraisal drilling campaign on the Mako gas field in Q4 2019, which saw the Tambak-1 and Tambak-2 wells demonstrate the presence of well-developed, high quality reservoir sandstones with a common gas water contact across the Mako structure, The operator, Conrad Petroleum, has been working alongside external consultants to update an internal view of resources at the Mako gas field. Subsequently, Gaffney Cline and Associates ('GCA') was commissioned to update its view of the Mako gas field, which lies\n \n in the Duyung PSC in the West Natuna basin, offshore Indonesia (the 'Duyung PSC'). \n \n \n \n \n \n The work required to arrive at an internal assessment of resources at the Mako gas field is very close to being completed and Empyrean anticipates being in a position to release these numbers shortly.\n \n \n \n \nThe operator has advised that despite the movement and travel restrictions affecting all parties involved, all efforts are being made to ensure that GCA delivers their report in a timely fashion. The revised competent persons report by GCA will use new data acquired from the Q4 2019 appraisal drilling programme, including the drill stem test at Tambak-1, which flowed at 11.4 MMscf/d. \n \n \n \n \nGCA previously ascribed 2C resources of 276 Bcf and 3C resources of 396 Bcf to the Mako field and the Duyung PSC partners are now awaiting the publication of this new independent resource assessment. The Company is confident of a significant upgrade in the resource size as a result of the drilling campaign and the Company looks forward to updating sh...