Empyrean Energy PLC
17 April 2008
Empyrean Energy PLC
('Empyrean' or the 'Company'; Ticker: (EME))
Sugarloaf Block A, Texas USA
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- Flow testing of the TCEI JV Block A-3 well continues successfully.
- Flow rates have increased by approximately 20% since testing began
to the most recent rate of 7.8 million cubic feet of gas equivalent per day.
Empyrean, the AIM listed energy company with exploration and production
assets in Germany and USA today announces the following initial test
results from its TCEI JV Block A-3 well on Block A at the Sugarloaf
Project in Texas:
Initial flow testing of the TCEI JV Block A-3 continues and since the
last report the operator has successfully collected pressure and other
data measurements from the well. The well was then opened back to flow
and the operator has increased the choke size incrementally to 14/64'.
As of the latest report the well was flowing at approximately 2.2
mmcfgpd (million cubic feet gas per day) with over 560 bcpd (barrels of
condensate per day) and nil bwpd (barrels of water per day) with a FTP
(Flow Tubing Pressure) of around 2500 psi (it is normal for FTP to drop
as the choke size increases).
On the present day prices for condensate and gas whilst converting the
condensate to a gas equivalent, the most recent recorded equivalent gas
flow rate exceeds (using a 10:1 conversion) 7.8 mmcfepd (million cubic
feet gas equivalent per day).
Commenting today, Empyrean Executive Director Tom Kelly said 'So far
this well is exceeding our expectations from an open hole test without
stimulation. Importantly the pressures are excellent for the rates of
flow recorded. Condensate is making up over 70% of the flow in terms of
value, and with the oil price reaching record highs this condensate to
gas ratio is healthy for the economics of the project.'
The information contained in this announcement was completed and
reviewed by the Technical Director of Empyrean Energy Plc, Mr Frank
Brophy BSc (Hons) who has over 40 years experience as a petroleum
geologist.
For further information:
Empyrean Energy plc
Tel : +44(0) 207 182 1746
Rod Venables / Cecil Jordaan
HB Corporate
Tel: +44(0) 207 510 8600
Jonathan Charles / Ed Portman
Conduit PR
Tel: +44 (0) 207 429 6611 / +44 (0) 7791 892 509
This information is provided by RNS
The company news service from the London Stock Exchange