the eaglford is starting to be mentioned this from eme last evening regarding marlene olsen, it was a vertical well which will have laterals drilled one day, (eme price crashed on that announcement, more delayed completions yet again)
RNS Number : 8798H Empyrean Energy PLC 11 November 2008
11 November 2008 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Sugarloaf Prospect, ("Sugarloaf"), Block A, Texas USA
* TCEI JV Block A-5 well reaches TD * Electric logs interpret upper, middle and lower pay-zones over 220 feet gross interval
Empyrean Energy Plc, the oil and gas explorer and producer with assets in Germany and the USA provides the following update on operations on Block A which is part of the Sugarkane Gas and Condensate Field:
TCEI JV Block A-5 Well (marlene olsen)
Empyrean has been advised by Texas Crude Energy Inc ("TCEI") that the TCEI JV Block A-5 well has reached total depth of approximately 12,470 feet. Electric logs and casing have been run. The logs indicate that the well intersected the upper, middle and lower potential pay-zones of the Austin Chalk and possibly the Eagleford Shale.
The operator is presently assessing the well data before deciding upon a completion and testing plan.
ADI Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)