Business
Seismic Data Results Exceed Expectations
Seismic Data Results Exceed Expectations.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0400Q Empyrean Energy PLC 07 September 2017 \n\nThis announcement contains inside information\n \nEmpyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas\n \n7 September 2017\nEmpyrean Energy PLC (\"Empyrean\" or the \"Company\")\n \nOffshore China Block 29/11 Initial Seismic Data Results Exceed Expectations\n \n· Preliminary mapping of 'raw seismic 3D data' confirms structural validity of Jade and Topaz prospects and identifies a third significant target named Pearl\n· Jade preliminary mean unrisked resource potential ~103 million barrels ('mmbbls') oil\n· Topaz preliminary mean unrisked resource potential ~365 mmbbls oil\n· Pearl preliminary mean unrisked resource potential ~ 123 mmbbls oil\n· Full data processing and oil migration studies are on-going\n \nEmpyrean Energy plc (EME: AIM), the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has finalised the preliminary internal interpretation of the 'fast-tracked' processing of raw seismic data from the recently acquired 3D seismic on Block 29/11, offshore China. This preliminary interpretation has confirmed the structural validity and the potential size of the Jade and Topaz prospects and has revealed an exciting new prospect named Pearl which is located to the north of Topaz.\n \nA summary of the interpretation of gross unrisked mean prospective resources for Jade, Topaz and Pearl is provided in the table below:\n \n\n\n\n\nProspect\n\n\nPreliminary Prospective Resources Estimates (mmbbls)\n\n\n\n\n \n\n\nLow estimates\n\n\nBest estimates\n\n\nHigh estimates\n\n\n\n\nJade \n\n\n89\n\n\n103\n\n\n143\n\n\n\n\nTopaz \n\n\n280\n\n\n365\n\n\n498\n\n\n\n\nPearl\n\n\n84\n\n\n123\n\n\n206\n\n\n\n\n \nEmpyrean CEO Tom Kelly commented, \"Empyrean is excited to confirm that, based on our internal preliminary analysis, Block 29/11 contains prospects of truly significant scale and size. That the three priority targets have a cumulative mean potential to contain 591 million barrels of oil is a great early result from the 3D seismic data recently acquired. We will obtain better resolution and imaging from the ...