Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME))...

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.