Empyrean Energy PLC Sacramento Basin Assets (4651T)
2021年3月25日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMEME
RNS Number : 4651T
Empyrean Energy PLC
25 March 2021
25 March 2021
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil &
Gas
Empyrean Energy PLC ("Empyrean" or the "Company")
Sacramento Basin Assets
Empyrean Energy plc (EME: AIM) ("Empyrean"), the oil and gas
development company with interests in China, Indonesia and the
United States, is pleased to provide the following update on its
Sacramento Basin projects.
On 28 October 2020, the Company announced its intention to
withdraw from the proposed drilling of the Borba well and the Borba
Area of Mutual Interest ('Borba AMI') in the Sacramento Basin, with
non-consent resulting in no drilling expenditure nor interest in
the well.
During 2017, Empyrean participated in the drilling of the
Dempsey 1-15 well and earned its interest in the Dempsey Area of
Mutual Interest ('Dempsey AMI') which lies adjacent to the
northwest of the Borba AMI.
On 23 February 2021, Empyrean's Sacramento Basin JV partners,
ASX listed Sacgasco Energy (ASX: SGC) and Xstate Resources (ASX:
XST) announced the commencement of drilling of the Borba 1-7 well.
Subsequently, it was announced on 8 and 19 March 2021 that the well
had encountered significant gas shows whilst drilling the shallower
Kione and Guinda objectives in the well.
The Borba 1-7 well is also intended to drill a number of deeper
prospective sands before reaching targeted total depth. These
deeper sands are similar to those encountered at the Dempsey 1-15
well with seismic interpretation showing that, at the Borba 1-7
well location, the sands lie in a location that, at the time of
deposition, was structurally lower and in a paleo-channel. This
suggests the Borba 1-7 well has a greater chance of better sand
development and potentially improved porosity, permeability and
overall reservoir quality than at the Dempsey 1-15 location. The
Borba well location was chosen because of the interpreted thicker
sand development.
The Borba well has the chance to open up these deeper channel
sands as a new play type within the Sacramento Basin that Empyrean
and its JV partners are operating within. Specifically, there are a
number of prospects within the Dempsey AMI in which Empyrean has
already earned its interest, that may become high priority targets
should the Borba 1-7 well achieve success.
In addition, and independent of any potential success at Borba,
with some COVID restrictions starting to ease, the Sacramento Basin
JV partners are also keen to pursue the Alvares Prospect. Alvares
was drilled for oil in the mid 1980s when gas was not a high
priority target. The Alvarez well encountered some 10,000 feet of
gas shows and flowed gas to surface from a very limited test of a
40 feet interval. The partners are currently investigating the
permitting and logistics required to test the original wellbore
integrity in order to potentially re-enter and carry out a more
rigorous test program using modern day logs and perforating
equipment.
Empyrean CEO, Tom Kelly stated "Whilst Empyrean is not directly
involved in the Borba well, we wish our JV partners a successful,
safe and timely drilling campaign and watch with great interest as
the deeper targets at Borba have the potential to high grade future
prospects that sit within our mutual JV interests. Any commercial
success at Borba is highly likely to accelerate the significant
momentum that is now seeing Oil and Gas Companies return to
exploration drilling following a quiet 2020."
**ENDS**
For further information:
Empyrean Energy plc
Tom Kelly Tel: +61 6146 5325
Cenkos Securities plc (Nominated
Advisor and Broker)
Neil McDonald Tel: +44 (0) 131 220 9771
Pete Lynch Tel: +44 (0) 131 220 9772
First Equity Limited (Joint
Broker)
Jason Robertson Tel: +44 (0) 20 7330 1883
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCDKPBQABKKANB
(END) Dow Jones Newswires
March 25, 2021 03:00 ET (07:00 GMT)
Empyrean Energy (LSE:EME)
過去 株価チャート
から 6 2024 まで 7 2024
Empyrean Energy (LSE:EME)
過去 株価チャート
から 7 2023 まで 7 2024