Empyrean Energy Moves Forward with Glantal Gas Project

Empyrean Energy has secured a completion rig to test four initial zones for the presence of gas at the Glantal-1 well, the first well drilled by Empyrean and its partners in the Glantal Gas Project.

Following a comprehensive independent and internal review/analysis of the log data (including FMI data) four initial zones have been chosen as priorities for the testing operations. Two of the zones have multiple intervals in close proximity within the zone that can be tested together, resulting in a total of eight initial intervals that will be tested over the four zones. Each zone will be tested separately for hydrocarbon content.

The operator of the Glantal Gas Project, Pannonian International Ltd, a wholly owned subsidiary of U.S.-based Galaxy Energy Corporation has advised that a German contractor, Koller Workover and Drilling GmbH, has been chosen to provide the completion rig and associated services for the testing operations at the Glantal-1 well. The operator advises that the contract with Koller is in the final stages of review and is expected to be executed shortly.

Tom Kelly, Executive Director, of Empyrean said: "We are pleased that a completion rig has been secured for the important and exciting testing of our first well at the Glantal Gas Project. Pannonian expects that the testing operations will commence in June 2006 and we will provide a further update as firm dates become known for the mobilization of the completion rig to the well site."