Sugarloaf Block A-4 Well Shows Commercial Gas Potential

Sugarloaf Prospect
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Empyrean Energy Plc has provided the following update on operations at Block A within the Sugarloaf Prospect.

Empyrean has been advised by Texas Crude Energy Inc that the TCEI JV Block A-4 horizontal well has reached a total measured depth of 15,084 feet. Current operations are circulating gas out of the drilling fluid in preparation to run production casing. The well will then be tested.

During drilling, high gas readings and flares have prompted the Operator to call total depth earlier than anticipated as they believe the gas observations from an interval of more than 1500 ft in length suggest sufficient encouragement to provide for a good commercial outcome. The early total depth has also meant that this well has been drilled under the budgeted cost.

Multiple gas readings in excess of 500 units (background gas approximately 50 units) and multiple flares measuring over 20 feet in height were observed during drilling of the 1500 ft interval.

Further updates will be provided as significant developments occur.

Empyrean has a 7.5% working interest in this well.

Commenting today, Empyrean Executive Director Tom Kelly stated, "The gas readings and flares provide great encouragement for Empyrean on this well. We look forward to the testing in due course."


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