Empyrean Energy PLC Alvares 1 Testing and Operations Update (2400Z)
2018年8月30日 - 3:01PM
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Empyrean Energy PLC
30 August 2018
This announcement contains inside information
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil &
Gas
30 August 2018
Empyrean Energy PLC ("Empyrean" or the "Company")
Alvares 1 Testing and Operations Update, Sacramento Basin,
California
Empyrean Energy (EME: AIM), the oil and gas development company
with interests in China, Indonesia and the United States, is
pleased to announce that it has been informed by Sacgasco Limited
(ASX: SGC) ("Sacgasco"), the operator of the Company's interests in
the Sacramento Basin, onshore California, that it has obtained
regulatory approval to test the potential for over-looked natural
gas in the Alvares 1 well with re-entry targeted for early Q4 2018.
Empyrean has a 25% working interest in the Alvares prospect
("Alvares").
The aim of the Alvarez appraisal work is to prove up large gas
resources by appraising extensive natural gas shows in a 1982 well
(that was focused on oil targets), by re-entering and testing the
integrity of the existing wellbore, before testing a conventional
reservoir zone, as well as a new fractured reservoir play
concept.
The initial task is to test the integrity of the existing
casing, then log through the casing to select perforation zones;
and then test various zones of gas saturated reservoirs in the
well. Consistent with good oilfield practice and for evaluation
efficiency, Sacgasco have designed the programme with flexibility
to respond to the results of testing.
The Alvares well had a drilled section of over 5,000 feet of
high pressure gas shows which were not fully evaluated at the time
of drilling due to the oil focus of the operators. The Alvares 1
well is one of only three on-structure wells in the under-explored
part of the Northern Sacramento Basin that flowed pipeline quality
natural gas to the surface on test. At Alvares, the flow stage of
the open hole test in the Stoney Creek Formation failed almost
immediately as the test equipment in the well bore was dislodged by
high pressures.
The target Stoney Creek Formation at Alvares is separate from,
and older than any of the formations tested at the Company's
Dempsey well or the Tulainyo well recently drilled by the Company's
JV partner. Stoney Creek rocks have only rarely been drilled in the
100 years of exploration in the Sacramento Basin.
The two wells that drilled significant portions of the Stoney
Creek Formation, James 1 (1947) and Alvares 1 (1982), flowed
natural gas to surface from Stoney Creek reservoirs when oil was
the commercial focus. Under the revised programme, the well bore
will be assessed for its suitability for directly flow testing
various gas saturated reservoirs interpreted from petrophysical and
mud logs, and seismic in the Alvares well.
State-of-the-art through-casing gas detection logs, and high
penetration perforating tools are planned to be utilised for the
testing.
Empyrean notes that Pancontinental Oil & Gas NL's
subsidiary, Bombora Natural Energy Pty Ltd, has executed an
agreement with Sacgasco to fund 50% (up to US$200,000) of drilling
and pressure testing costs to assess the previously plugged Alvares
1 well bore integrity prior to planned flow testing.
Dempsey Project
Following the previously announced recommencement of gas
production from the Dempsey 1-15 well, Sagasco has advised that
some water accumulated in the well bore and reduced gas production.
Production of gas from the Dempsey well has been shut-in
temporarily for pressure build-up as a means to clear water from
the well bore before recommencing gas production.
The Dempsey 1-15 well is the first deeper well in the eastern
area of the northern Sacramento Basin to be based on 3D seismic.
For the first time in 100 years of exploration in the Sacramento
Basin, natural gas has flowed to sales from older under-explored
sediments. Extensive gas shows over 5,000 feet of sediments
demonstrate gas charged systems with characteristics similar to
productive Basin Centered Gas Systems in other basins. Moreover,
the seismic data demonstrates multiple opportunities for improved
reservoir development away from the Dempsey well bore.
Further information will be released on the planned programme at
Alvarez in due course.
Empyrean CEO Tom Kelly commented, "We are looking forward to the
commencement of testing at Alvarez in Q4 2018. The Alvares 1 well
has previously flowed pipeline quality gas to the surface from the
targeted reservoir formation and we believe that given the relative
costs of re-entering the existing well bore are a fraction of the
cost of a new well, it is definitely worth ascertaining whether the
old well bore can be efficiently utilised. The gas shows whilst
drilling for oil back in the 1980's offer a very enticing initial
target with significant potential.
"Empyrean has already been part of a significant discovery of
approximately 373 billion cubic feet of gas at its 10% owned Mako
Gas Field in Indonesia which now offers low risk appraisal with
significant upside. The opportunity to explore efficiently for
large gas accumulations relatively close to infrastructure in the
energy hungry Californian market really compliments Empyrean's
portfolio that is spearheaded by its offshore China permit offering
best case prospective resources from three mature drill targets of
over 770 million barrels of oil."
This report has been reviewed by Empyrean's Executive Technical
director, Gaz Bisht, who has over 29 years experience as a
hydrocarbon geologist and geoscientist.
**ENDS**
For further information:
Empyrean Energy plc
Tom Kelly Tel: +61 8 9380 9920
Cenkos Securities plc
Neil McDonald Tel: +44 (0) 131 220 9771
Beth McKiernan Tel: +44 (0) 131 220 9778
St Brides Partners Ltd
Lottie Wadham Tel: +44 (0) 20 7236 1177
Frank Buhagiar Tel: +44 (0) 20 7236 1177
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END
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