Empyrean Energy Plc · LSE:EME
Empyrean Energy — Corporate Update (June 2017)
9 slides from Empyrean Energy's corporate update, June 2017
Slide 1: Operational Update
Sacramento Basin Projects California Block 29/11 China Operational Update Duyung PSC Indonesia EMPYREAN ENERGY PLC | OPERATIONAL UPDATE Q2 2017
Slide 2: "New" Empyrean - transformational assets are in place
“New” Empyrean - transformational assets are in place Following successful sale of its interest in Sugarloaf asset in Eagle Ford shale play, Texas, Empyrean management has now built an asset base with potentially transformational value proposition Three assets have well defined prospects that are su
Slide 3: China Block 29/11 – 3D seismic survey has commenced
China Block 29/11 – 3D seismic survey has commenced During past 5 months, significant progress was made to commence the 3D survey on time The survey commenced on 6 June, and is expected to take 40 days to complete Once fully processed and interpreted the data will enable Empyrean to mature these pro
Slide 4: China Block 29/11 – Operational plan for realising value
China Block 29/11 – Operational plan for realising value The survey will fully cover two material prospects, Jade and Topaz, mapped on good quality 2D seismic data EMPYREAN ENERGY PLC | OPERATIONAL UPDATE Q2 2017 4
Slide 5: Indonesia Duyung PSC – Mako South spudding is imminent
Indonesia Duyung PSC – Mako South 1 spudding is imminent Conrad Petroleum (Operator) has made significant progress towards spudding the Mako South # 1 well The drilling and testing operations are expected to take three weeks to a month The Joint Venture will evaluate the well results to plan the nex
Slide 6: Indonesia Duyung PSC – Operational plan for realising value
Indonesia Duyung PSC– Operational plan for realising value A successful flow test of gas in Mako South well will put the asset on a commercialisation path The Joint Venture has plans to evaluate the well results soon after the well operations are completed And, commence the acquisition of a 3D seism
Slide 7: California – Dempsey Appraisal and Exploration Prospect
California – Dempsey Appraisal and Exploration Prospect Sacgasco Limited (Operator) has made significant progress towards spudding the Dempsey #1 well in early part of Q3 2017 Dempsey is a large 3-way closed structure mapped on 3D seismic data that has un-risked recoverable prospective resource* bes
Slide 8: California – Dempsey Appraisal and Exploration Prospect
California – Dempsey Appraisal and Exploration Prospect A successful flow test of gas in Dempsey #1 will help the Joint Venture to utilise the existing owned and operated infrastructure for low cost, rapid development, and early cash flow In addition, the operator will secure the ‘Dempsey look-a lik
Slide 9: Three assets – Significant operational activity ramping up
Three assets – Significant operational activity ramping up Empyrean management has successfully framed and executed a strategy to participate in a transformational portfolio in prolific petroleum basins with compelling market dynamics Significant progress has been made in all three assets to materia