Empyrean Energy PLC Duyung PSC, Operational Update (1404R)
2019年10月25日 - 3:15PM
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RNS Number : 1404R
Empyrean Energy PLC
25 October 2019
This announcement contains inside information
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil &
Gas
25 October 2019
Empyrean Energy PLC ("Empyrean" or the "Company")
Duyung PSC, Operational Update
Empyrean Energy Plc, the oil and gas development company with
interests in China, Indonesia and the United States, is pleased to
provide an operational update in relation to the drilling campaign
in the Duyung PSC in the West Natuna basin, offshore Indonesia, in
which Empyrean holds an 8.5% interest.
Empyrean has been advised by the operator, Conrad Petroleum
Limited ("Conrad"), that following the Tambak-2 well successfully
reaching a total depth of 1,650 feet on 15 October 2019, the top of
the targeted Intra-Muda reservoir depth came in as prognosed
approximately 10 feet up-dip to Conrad's Mako South-1 gas discovery
well over 13.5 km away.
A full logging suite was acquired, including formation pressure
measurements, confirming a 33 feet gross gas pay zone (30 feet net)
with formation permeabilities calculated to be over 1 Darcy across
the best quality zone. The pressures and gas-water contact depth in
Tambak-2 are the same as those encountered in Mako South-1,
confirming a very large "single-tank" or areal extent of the Mako
gas field.
While preparing for a Drill Stem Test ("DST") across the
intra-Muda reservoir, an inflatable open hole bridge plug
("packer"), used to isolate the gas-bearing reservoir for testing,
failed. During operations to recover the packer, the well started
flowing natural gas to surface. For safety reasons, the well was
immediately shut in. Subsequently, utilizing the appropriate well
control practices, the well was killed using heavy mud containing
barite. A significant quantity of the heavy mud was lost in the
highly permeable Intra-Muda reservoir. Following this operation,
the well was conditioned, and the DST equipment set-in place into
the wellbore. Two separate DST attempts failed to flow gas to the
surface due to the heavy formation damage from the kill mud.
Miltos Xynogalas, Conrad Executive Director/CEO, commented: "The
Tambak-2 well is an appraisal well of the Mako gas field
accumulation located a significant distance from the Mako South-1
gas discovery and has delivered a result better than our pre-drill
expectation. The result is likely to have a positive impact on
Mako's gas-in-place and potentially recoverable volumes.
Uncertainty in these parameters has been greatly reduced. The well
confirmed the lateral extent of the high-quality reservoir and the
presence of a continuous hydrocarbon accumulation. Initial
petrophysical analysis suggests high gas saturations, while the gas
mobility encountered during pressure measurements and the flow of
gas while retrieving the packer confirms the ability of the
hydrocarbons to flow to the surface. While the unsuccessful DST
caused by the formation damage is disappointing, the well results
are extremely encouraging for the development of the Mako gas
field. Petrophysical analysis suggests any DST testing would have
yielded similar high flow rates to the discovery well."
Tom Kelly, Empyrean CEO commented: "A valid flow test at
Tambak-2 without kill mud being required due to the packer failure
would have been desirable given the excellent quality reservoir
seen on logs and the 33 feet of net gas pay. The logs confirm an
excellent quality reservoir at an approximate 13.5km step out from
Mako-South 1. This achievement alone is expected to have a positive
bearing on resources and potential reserves. We now move on to
Tambak-1 which in addition to appraising the intra-Muda sands of
the Mako gas discovery, will also test the deeper lower Gabus
target".
The information contained in this announcement has been reviewed
by Empyrean's Executive Technical director, Gaz Bisht, who has over
30 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
Pete Lynch Tel: +44 (0) 131 220 9772
St Brides Partners Ltd
Priit Piip Tel: +44 (0) 20 7236 1177
Frank Buhagiar Tel: +44 (0) 20 7236 1177
The Mako Gas Field, Duyung PSC, Offshore Indonesia
The Mako gas field is an extremely large, shallow structural
closure, with an area extent of over 350 square km. The reservoir
is a Pliocene-age sandstone, with a gas-water contact at
approximately 391m true vertical depth sub-sea. The field has
excellent seismic definition with direct hydrocarbon indicators
being very evident.
Having been drilled but not tested by prior operators of the
acreage, the commercial viability of the Mako gas field was
demonstrated by the Mako South-1 well drilled by Empyrean and its
partner and operator, Conrad Petroleum Limited in 2017. The well
was drilled to core and test the Mako reservoir, flowing up to 10.8
MMscf/d of dry gas on test. Overall four wells have penetrated the
reservoir section, and while further appraisal is planned given the
huge areal extent of the field, the reservoir distribution is
reasonably well understood.
The Mako field is located in the prolific West Natuna basin,
approximately 16 km from the WNTS pipeline system which delivers
gas from Indonesia to Singapore. A plan of development has recently
been approved by Indonesian authorities and initial gas marketing
discussions have commenced, with a gas buyer in Singapore for the
Mako gas. An independent report on the field's potential was
recently carried out by Gaffney Cline & Associates, giving a 2C
recoverable resource assessment of 276 Bcf and 392 Bcf of 3C
recoverable resources.
Near Field Exploration Potential, To Be Tested in 2019
A series of prospects both beneath and above the Mako field have
been mapped. Of particular note is the Tambak (formerly 'Mako
Deep') prospect, a Lower Gabus structure that sits beneath the
northern end of the Mako field. The target interval within Tambak
exhibits seismic amplitude brightening, conformable with structural
closure. The prospect has a prospective resource range of 200 to
300 Bcf with a mid-case 250 Bcf and a CoS of 45%.
At the southern end of the field, over the structure's crest,
sits the Mako Shallow prospect. This again shows a very strong
direct hydrocarbon indicators on seismic, conformable with closure
in shallow Muda sandstones. The Shallow Muda prospect has potential
to add a further 100 Bcf of recoverable resources and a very high
CoS of 75%.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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