FAR 1.06% 47.5¢ far limited

drilling update from empyrean

  1. 220 Posts.

    expect FAR to be up again

    RNS Number:5730B
    Empyrean Energy PLC
    18 April 2006




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

    Drilling Update

    Eagle North-1 well in California, USA

    • Oil shows encountered over a horizontal measured interval of 98 feet
    whilst drilling the curved part of the well.
    • Casing of the curved part of the well now complete.
    • Preparing to drill final horizontal stage before setting production
    liner.

    AIM quoted Empyrean Energy PLC today announces the following update on the Eagle
    North-1 well, California, USA:

    Victoria Petroleum NL as operator for the Eagle North-1 horizontal well advises
    that at 1800 hours Central Pacific Time 17 April 2006, the current operation at
    the Eagle North-1 horizontal well was preparing to drill ahead after setting 41/
    2 inch casing at 4,281metres (14,045 feet) measured depth after having
    encountered good oil shows from the interval 4,255 metres (13,960 feet )
    measured depth (4,152 metres TVD KB) to 4,285 metres (14,058 feet). The well
    bore is currently at an angle of 87 degrees from the vertical.

    As per previous announcement, the forward plan is to drill a 3 3/4 inch
    horizontal well bore for a distance of approximately 320 metres to within 30
    metres of the Mary Bellocchi-1 oil well. This horizontal stage will be drilled
    with a normal pressured water based KCL-Clarizan mud minimising formation
    invasion and maximising the evaluation potential of the oil bearing sand. This
    will result in a planned measured depth of 4,600 metres (15,090 feet).

    This horizontal well bore will then be completed for production with a 2 7/8
    inch slotted production liner. Production testing will follow.

    A further update will be made as information becomes available.

    Executive Director - Tom Kelly commented "We are pleased with the recent
    progress of completion operations and look forward to the next stage of
    horizontal drilling before setting production liner to test."

    The information contained in this announcement has been 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

    Laurence Read/ Angus Prentice
    Conduit PR
    Tel: +44 (0) 207 429 6603
    Mob: +44 (0) 7974 982 512

    Toby Howell
    HB Corporate
    Tel: +44(0) 207 510 8600

    Empyrean Energy plc
    Tel : +44(0) 207 932 2442
 
watchlist Created with Sketch. Add FAR (ASX) to my watchlist
(20min delay)
Last
47.5¢
Change
0.005(1.06%)
Mkt cap ! $43.89M
Open High Low Value Volume
46.5¢ 48.0¢ 46.5¢ $110.3K 234.9K

Buyers (Bids)

No. Vol. Price($)
4 217746 46.5¢
 

Sellers (Offers)

Price($) Vol. No.
47.5¢ 68975 2
View Market Depth
Last trade - 16.10pm 24/06/2024 (20 minute delay) ?
FAR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.