Empyrean Encouraged by Early Milagro #1 Results
Empyrean Energy PLC said that the Milagro #1 well reached total depth and wireline logging operations commenced on Tuesday. The well is the second in the Project Margarita shallow gas exploration drilling program on the Texas Gulf Coast.
Wireline log operations, including sidewall cores, were conducted over a period of 20 hours. Initial interpretation indicates there is potential oil pay of approximately 4.3 meters (14 feet) within the target sands.
Preparations will commence immediately for the well to be cased with 4 1/2 inch production liner using the current rig in anticipation for completion and production testing. An update will be provided as the timing for the production test becomes certain.
El Viejito #1, the 1st well in the Margarita shallow drilling program, is waiting on testing equipment to arrive at the well site in order to test the potential previously announced gas pay interpreted from wireline log operations.
Participants interests on completion of each of the wells in the program are:
--Empyrean Energy PLC 44.00%
--Sun Resources NL 20.00%
--Victoria Petroleum NL 20.00%
--Wandoo Energy LLC (operator) 16.00%
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