Empyrean: Project Margarita Well to Be Cased for Tests

Empyrean Energy PLC announced that the first well at the Margarita project, El Viejito-1 was drilled to a total depth of 1,932 meters (6,340 ft) on 31 January 2007. Wire line logs were run and indicate the presence of gas in the target Frio horizon over a 1.2 meter interval. An underlying 11 meter Vicksburg interval is also of possible interest and will be tested through production casing. Production casing is being run to total depth with completion and production testing planned to commence in 14 days time.

Following the running of production casing over the weekend, the drilling rig will move to commence drilling on the second well in the shallow gas exploration program, Dos Dedos-1.

The shallow prospects to be drilled are analogues of historic prolific Frio and Vicksburg sands production in the project area at less than 2,000 meters depth. This program is a precursor to commencement of a drilling program on more substantial individual deep 30 to 200 BCF gas potential prospects forecast to commence mid year 2007.

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%