Proactiveinvestors United Kingdom Empyrean Energy PLC Proactiveinvestors United Kingdom Empyrean Energy PLC RSS feed en Wed, 11 Dec 2019 19:44:40 +0000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) Empyrean Energy reveals findings of Mako resource report Mon, 21 Jan 2019 09:47:00 +0000 Empyrean Energy reveals estimate upgrade for China prospects Fri, 09 Nov 2018 12:54:00 +0000 Empyrean Energy sees volatile trading on Mako gas project update Fri, 03 Aug 2018 08:17:00 +0100 Empyrean Energy due US$1.3mln of tax refunds Tue, 17 Jul 2018 07:23:00 +0100 Empyrean Energy shares drop despite Dempsey production plans Wed, 23 May 2018 08:56:00 +0100 Empyrean Energy shares advance on Dempsey well result Tue, 08 May 2018 09:19:00 +0100 Empyrean Energy set to resume Dempsey well testing Thu, 08 Mar 2018 09:12:00 +0000 Empyrean Energy: Gas production starts at Dempsey well Wed, 17 Jan 2018 08:02:00 +0000 Empyrean Energy shares drop as Dempsey well test disappoints Tue, 14 Nov 2017 14:32:00 +0000 Empyrean Energy shares drop as investors wait for well testing Mon, 18 Sep 2017 09:24:00 +0100 Empyrean Energy hits main target in Dempsey well, more ‘significant’ gas shows Fri, 08 Sep 2017 06:53:00 +0100 Empyrean Energy says China seismic exploration has exceeded expectations Thu, 07 Sep 2017 06:39:00 +0100 Empyrean Energy reports multiple ‘significant gas shows’ in Dempsey well Tue, 29 Aug 2017 06:38:00 +0100 Empyrean Energy highlights “encouraging” early results from ongoing Demsey well programme Mon, 21 Aug 2017 07:04:00 +0100 Empyrean Energy’s Dempsey well sees multiple significant gas shows Mon, 14 Aug 2017 06:51:00 +0100 Empyrean Energy updates on Dempsey exploration as programme continues Wed, 09 Aug 2017 07:19:00 +0100 “Exciting time” for Empyrean Energy as Dempsey drilling advances Thu, 03 Aug 2017 07:02:00 +0100 Empyrean Energy set to kick off Dempsey exploration drilling Tue, 01 Aug 2017 07:28:00 +0100 Empyrean Energy looks forward to Dempsey well spudding Mon, 17 Jul 2017 10:51:00 +0100 Empyrean Energy’s recent share price rise tipped to continue Mon, 10 Jul 2017 09:05:00 +0100 Empyrean Energy says drilling contract signed for Cailfornia well with operations to commence in coming weeks Mon, 10 Jul 2017 06:57:00 +0100 Empyrean Energy looks to California as drill plans get green-light Thu, 06 Jul 2017 07:42:00 +0100 Empyrean Energy shares are already up by 20% today, but how high can they go? Wed, 28 Jun 2017 08:45:00 +0100 Empyrean Energy “absolutely delighted” with Mako South gas flows Wed, 28 Jun 2017 07:31:00 +0100 Empyrean Energy hits gas in Mako South exploration well offshore Indonesia Mon, 26 Jun 2017 07:31:00 +0100 Empyrean Energy making quick progress with Mako South well in Indonesia Mon, 19 Jun 2017 14:35:00 +0100 Empyrean Energy raises cash as exploration starts in the three locations Tue, 13 Jun 2017 13:43:00 +0100 Empyrean Energy is California dreaming as it strikes deal for ‘multi-TCF’ gas projects Mon, 15 May 2017 14:24:00 +0100 Empyrean Energy receives last of Sugarloaf money, looks forward to Chinese exploration Thu, 23 Feb 2017 08:34:00 +0000 Empyrean Energy lands massive China exploration permit Thu, 15 Dec 2016 15:53:00 +0000 City broker upgrades Empyrean Energy highlighting ‘risk free’ exploration Tue, 04 Oct 2016 12:52:00 +0100 Empyrean Energy to pay-out £17.5mln to shareholders Tue, 04 Oct 2016 07:08:00 +0100 Empyrean Energy PLC shares up as former EGM request withdrawn Fri, 01 Jul 2016 15:36:00 +0100 Empyrean Energy called on to replace chairman and FD Fri, 17 Jun 2016 08:49:00 +0100 Empyrean Energy shareholders could be set for a pay-out, broker says Tue, 23 Feb 2016 14:38:00 +0000 Empyrean Energy completes Sugarloaf stake sale Mon, 22 Feb 2016 10:24:00 +0000 Empyrean Energy sells US shale asset for £50mln Mon, 18 Jan 2016 09:53:00 +0000 Higher production bolsters Empyrean Energy Thu, 31 Dec 2015 08:39:00 +0000 Empyrean Energy upbeat over Sugarloaf reserves Wed, 23 Dec 2015 09:04:00 +0000 Empyrean Energy unveils new reserves upgrade for Sugarloaf Tue, 13 Oct 2015 07:02:00 +0100 Empyrean Energy reveals 15% rise in revenue Tue, 08 Sep 2015 07:15:00 +0100 Empyrean Energy reveals steady production despite major flooding Wed, 02 Sep 2015 06:23:00 +0100 Empyrean Energy sees major reserves upgrade at Sugarloaf Wed, 08 Jul 2015 06:29:00 +0100 Empyrean Energy positive about its economic Eagle Ford operation Thu, 21 May 2015 07:33:00 +0100 Empyrean Energy cements swap deal as part of Macquarie debt financing Wed, 08 Apr 2015 11:40:00 +0100 Empyrean Energy seals financing for continued participation in Sugar Loaf development "Empyrean is pleased to have been able to secure additional debt financing during some of the most challenging market conditions the industry has seen in recent years,” said chief executive Tom Kelly.

Wed, 01 Apr 2015 08:37:00 +0100
Empyrean Energy reveals significant rise in production Thu, 26 Mar 2015 07:52:00 +0000 UPDATE - Empyrean Energy no longer for sale and will continue in the Sugar Loaf venture Wed, 04 Feb 2015 11:17:00 +0000 Empyrean Energy makes US$2mln debt repayment Thu, 08 Jan 2015 06:59:00 +0000 Empyrean Energy's profits surge; sale talks still ongoing Tue, 30 Dec 2014 07:39:00 +0000 Empyrean Energy reveals 25% jump in production Thu, 11 Dec 2014 09:15:00 +0000 Empyrean Energy hails significant progress in Texas Wed, 19 Nov 2014 06:57:00 +0000 Empyrean Energy shares advance following “indicative proposals” Tue, 30 Sep 2014 10:37:00 +0100 Empyrean sets closing date for any sale bids Mon, 22 Sep 2014 13:49:00 +0100 Empyrean Energy continues to benefit from strong production at Sugarloaf Wed, 17 Sep 2014 08:22:00 +0100 UPDATE - Empyrean Energy profits soar as Sugarloaf development accelerates As Marathon Oil pushed on with expansion drilling at the Sugar Loaf field, Empyrean's AIM shares have soared to highs above 20p from 6p.

Mon, 08 Sep 2014 10:55:00 +0100
Empyrean Energy profits soar as Sugarloaf development accelerates Mon, 08 Sep 2014 07:01:00 +0100 UPDATE - Empyrean Energy put up for sale A new strategic review at Empyrean Energy effectively puts the ‘for sale’ sign up over the AIM-quoted oil firm.

Thu, 10 Jul 2014 12:50:00 +0100
Empyrean Energy hails 50% production uplift Thu, 03 Jul 2014 08:45:00 +0100 Empyrean Energy receives US$1.45mln oil payment Fri, 27 Jun 2014 07:53:00 +0100 Empyrean reports increased activity at Sugarloaf Wed, 25 Jun 2014 09:28:00 +0100 UPDATE - Empyrean Energy: Sugarloaf’s upgraded reserves valued at US$97mln to US$139mln "This outstanding reserve upgrade gives further evidence of the current attributable value at our flagship Sugarloaf AMI Project as well as its excellent long term potential,” chief executive Tom Kelly said.

Tue, 20 May 2014 09:47:00 +0100
Empyrean Energy notes increased offer for partner Tue, 13 May 2014 11:37:00 +0100 Empyrean Energy repays US$1.5mln of debt Tue, 01 Apr 2014 08:30:00 +0100 Empyrean Energy shares advance as shareholder increases stake Fri, 07 Mar 2014 13:47:00 +0000 Empyrean Energy: Cenkos upgrades target ahead of “transformational” drilling Empyrean could be set for a “transformational” year as Marathon Oil drives a rapid phase of production growth at the Sugarloaf project, according to City broker Cenkos, which today upgraded the share.

Thu, 13 Feb 2014 10:07:00 +0000
Empyrean Energy confident of unlocking value in Sugarloaf project Wed, 12 Feb 2014 07:22:00 +0000 Empyrean Energy climbs as partner attracts £1bn bid Fri, 07 Feb 2014 08:02:00 +0000 Empyrean Energy a cheap way into US shale, reckons Cenkos Fri, 24 Jan 2014 09:05:00 +0000 Empyrean Energy arranges draw-down as it faces busy year Wed, 08 Jan 2014 07:24:00 +0000 Empyrean Energy reveals its financial transformation Fri, 20 Dec 2013 07:54:00 +0000 Empyrean Energy waits to see Sugarloaf drill schedule Wed, 18 Dec 2013 10:32:00 +0000 Empyrean Energy boosted as Marathon reveals Sugarloaf plans Fri, 13 Dec 2013 07:51:00 +0000 Empyrean Energy looks forward to enhancing reserves Tue, 05 Nov 2013 06:21:00 +0000 Empyrean Energy repays US$1mln of debt facility Mon, 30 Sep 2013 08:24:00 +0100 UPDATE: Empyrean Energy steps up activity with participation in two new Eagle Ford wells Mon, 23 Sep 2013 10:38:00 +0100 Empyrean Energy encouraged by Sugarloaf programme Thu, 12 Sep 2013 08:17:00 +0100 Empyrean Energy shares up on positive Marathon update Thu, 08 Aug 2013 07:34:00 +0100 Empyrean Energy hedges a year’s oil production Fri, 02 Aug 2013 08:29:00 +0100 Empyrean Energy production edges higher, Austin Chalk drilling starts Thu, 01 Aug 2013 10:08:00 +0100 Empyrean Energy begins loan repayments Tue, 02 Jul 2013 06:56:00 +0100 Empyrean Energy shares advance as new Riverbend well beats expectations Wed, 29 May 2013 08:07:00 +0100 Empyrean Energy partner confirms Texas drill programme; Austin chalk could provide major uplift Wed, 01 May 2013 07:09:00 +0100 Empyrean Energy to clarify Sugarloaf drilling schedule Tue, 30 Apr 2013 16:09:00 +0100 Empyrean Energy: Sugarloaf production increased by 20% to end March Fri, 19 Apr 2013 06:58:00 +0100 Empyrean Energy banks US$10mln from Macquarie facility Thu, 28 Mar 2013 08:06:00 +0000 Empyrean Energy tightens grip on California asset Empyrean Energy has increased its working interest in the Eagle Oil Pool Development Project, in California’s San Joaquin Basin, to 57.2% from 48.5% previously.

Mon, 25 Mar 2013 07:24:00 +0000
Empyrean Energy says Riverbend project will be restarted Tue, 19 Mar 2013 07:27:00 +0000 Empyrean Energy: Marathon Oil adds two more Sugarloaf wells to 2013 plans Wed, 06 Mar 2013 08:45:00 +0000 Empyrean Energy confirms Marathon plans at Sugarloaf Tue, 26 Feb 2013 13:21:00 +0000 Empyrean Energy confirms rising production from Eagle Ford shale Tue, 19 Feb 2013 07:44:00 +0000 Empyrean Energy draws down $230,000 from $50m facility with Macquarie Thu, 16 Aug 2012 07:36:00 +0100 Empyrean Energy receives more cash than expected from US oil and gas operations Thu, 26 Jul 2012 10:16:00 +0100 Empyrean Energy ready to access Macquarie funding Fri, 15 Jun 2012 06:32:00 +0100 Empyrean Energy rallies after Sugarloaf partner Aurora Oil & Gas raises interest by 6pct Tue, 15 May 2012 08:58:00 +0100 Empyrean Energy rallies after Marathon Oil proposes accelerated drilling programme at Sugarloaf Wed, 11 Jan 2012 07:50:00 +0000 Empyrean Energy's US oil and gas revenues jump 55pct Thu, 22 Dec 2011 07:42:00 +0000 Empyrean Energy: Gross production in November from Sugarloaf project was 230,973 boe Wed, 21 Dec 2011 07:44:00 +0000 Empyrean Energy shares rise on 40 pct uplift in Eagle Ford shale reserves Fri, 28 Oct 2011 08:08:00 +0100 Empyrean Energy updates on key Sugarloaf prospect Tue, 14 Jun 2011 07:59:00 +0100 Revenues increase significantly at Empyrean Energy Fri, 03 Jun 2011 09:46:00 +0100 Empyrean’s shares surge after Marathon becomes new partner Thu, 02 Jun 2011 08:51:00 +0100 Empyrean shares rise on production figures from Sugarloaf project Fri, 13 May 2011 08:07:00 +0100 Report on Sugarloaf oil & gas project shows future revenue of US$179.7m to Empyrean Energy Wed, 09 Mar 2011 07:07:00 +0000 Empyrean Energy reports production figures from Sugarloaf wells Thu, 20 Jan 2011 07:13:00 +0000 Empyrean Energy signs farm-in deal with Krescent over 10% of 7.1 bcf Aquarius gas project in Texas Tue, 15 Dec 2009 09:58:00 +0000 Empyrean earns into Hercules Prospect in Texas, drilling to commence this month Thu, 10 Dec 2009 07:54:00 +0000 Empyrean Energy confident in continued rapid growth Fri, 04 Dec 2009 15:02:00 +0000 Empyrean Energy completes frac planning for 3 wells at Sugarloaf natural gas project, stimulation to start in December Thu, 19 Nov 2009 09:08:00 +0000 Empyrean Energy says Quinn 3H reaches total depth, completion preparations begin Mon, 16 Nov 2009 07:27:00 +0000 Empyrean Energy’s Quinn 3H well at Riverbend exceeds expectations Tue, 10 Nov 2009 07:44:00 +0000 Empyrean Energy says work has started on horizontal wells completion at Sugarloaf Block B, Texas Tue, 06 Oct 2009 03:47:00 +0100 Empyrean says TCEI wins farm-out partner for Block B of Sugarloaf project, Texas Mon, 21 Sep 2009 08:29:00 +0100 Empyrean set to move forward with Eagle Oil Pool after finding new operator Fri, 18 Sep 2009 09:03:00 +0100 Oil & Gas Junior Empyrean Energy spuds Quinn 3H well at Riverbend Thu, 03 Sep 2009 08:05:00 +0100 Empyrean Energy says rig on its way to re-drill Quinn 3H well at Riverbend, Texas Mon, 17 Aug 2009 07:55:00 +0100 Empyrean Energy raises 724,000 in placing for Riverbend project in Texas Thu, 04 Jun 2009 07:22:00 +0100 Empyrean Energy acquires 10% stake in high impact Riverbend Gas Project, Texas ]]> Mon, 01 Jun 2009 07:47:00 +0100 Empyrean Energy confirms Conoco Phillips is operator of Sugarloaf Prospect, Block A, Texas Wed, 06 May 2009 08:17:00 +0100 Empyrean Energy to farm-out half of its 6% stake in Block B, Sugarloaf Project Tue, 05 May 2009 09:30:00 +0100 Empyrean Energy says Barclays raises holding above 10 pct Wed, 22 Apr 2009 08:56:00 +0100 Empyrean Energy directors to take 30 percent of salary in shares for 1 year Tue, 31 Mar 2009 15:41:00 +0100 Empyrean Energy raises further £250,000 in response to strong demand Wed, 25 Mar 2009 08:28:00 +0000 Empyrean Energy raises further £350,000 in response to strong demand Fri, 20 Mar 2009 08:16:00 +0000 Empyrean Energy raises £300,000 in placing Thu, 19 Mar 2009 08:36:00 +0000 Empyrean Energy shareholder Barclays raises stake to 11 pct Wed, 18 Mar 2009 08:28:00 +0000 Empyrean says 2 wells on Sugarloaf’s Block A now flowing to production Tue, 24 Feb 2009 08:17:00 +0000 Empyrean Energy says Weston well at Sugarloaf ready for production testing Wed, 18 Feb 2009 09:57:00 +0000 Empyrean Energy says Sugarloaf well A-1 flowing to sales Mon, 12 Jan 2009 08:13:00 +0000 Empyrean Energy reverts to original Sugarloaf stake to cut costs Fri, 09 Jan 2009 08:42:00 +0000 Empyrean Energy upbeat about future as it reports interims Fri, 12 Dec 2008 11:55:00 +0000 Empyrean Energy says Weston well in Sugarkane gas field reaches target formation Wed, 10 Dec 2008 10:36:00 +0000 Empyrean Energy raises £500,000 Tue, 25 Nov 2008 11:04:00 +0000 Empyrean Energy says well in Sugarcane field, Texas, is producing to sales Thu, 13 Nov 2008 10:13:00 +0000 Empyrean Energy says Kowalik-1 well in Sugarloaf prospect, Texas, tested successfully Wed, 12 Nov 2008 09:39:00 +0000 Empyrean Energy says Texas well reaches planned depth, operator assessing data Tue, 11 Nov 2008 11:03:00 +0000 Empyrean Energy says Weston-1H well spuds Mon, 03 Nov 2008 10:47:00 +0000 Empyrean Energy jumps on commercial flow rates from A-4 well Fri, 31 Oct 2008 09:39:00 +0000 Empyrean Energy says Kowalik well complete, testing started Wed, 29 Oct 2008 11:40:00 +0000 Empyrean Energy – Two key results awaited ]]> Tue, 28 Oct 2008 08:04:00 +0000 Encouraging Gas Shows & Flares at Empyrean Energy’s Sugarloaf Prospect Block B Wed, 22 Oct 2008 11:02:00 +0100 Empyrean Energy reports first gas production from Kennedy Well Wed, 08 Oct 2008 11:00:00 +0100 Empyrean Energy reports spudding of A-5 Well on Sugarloaf Prospect Thu, 02 Oct 2008 10:21:00 +0100 Empyrean Energy Shares climb again following encouraging finds Wed, 17 Sep 2008 10:34:00 +0100 Empyrean Energy climbs second day running on A4 well update Thu, 11 Sep 2008 09:40:00 +0100 Empyrean Energy reports progress at Kowalik 1H Well, Texas, USA Wed, 10 Sep 2008 09:35:00 +0100 Empyrean Energy lifted by Sugarkane Gas Field update Wed, 13 Aug 2008 09:47:00 +0100 Empyrean Energy climbs on Sugarloaf Block A update Tue, 05 Aug 2008 11:22:00 +0100 Empyrean – Sugarloaf A-4 lateral well spudded
This well is intended to drill the productive upper pay zone found in the TCEI JV Block A-1 and A-3 wells and then drill horizontally to effect a lateral completion.

The TCEI JV Block A-1 and A-3 wells had early production flow test rates of 12 and 7.8 million cubic feet gas equivalent per day and the operator believes that a successful lateral completion will increase flow rates.]]>
Fri, 18 Jul 2008 01:22:00 +0100
Empyrean Energy says A-4 well now in drilling schedule Tue, 24 Jun 2008 07:11:00 +0100 Empyrean Energy says restimulation of Kennedy Well to start soon
Texas Crude Energy Inc., the operator of the Sugarloaf Project, confirmed that it would re-stimulate the deepest section of the well. The original testing of the zone returned minor gas volumes and condensate, but it is believed that a larger fracture stimulation program could achieve better flow rates. Work is expected to commence within 2 weeks.

Texas Crude also confirmed that on Block B it would drill the Kowalik 1H well, and will target the same upper pay zone that produced gas and condensate at the Block A-1 And A-3 wells. The Kowalik 1H well will have a 6,000 foot horizontal section. Empyrean will have an 18% working interest in the well.
Mon, 23 Jun 2008 06:54:00 +0100
Empyrean Energy raises £4.5 million at 50 pence per share
Empyrean's Executive Director Tom Kelly, said: "These funds place Empyrean in a strong position to further develop the gas condensate discovery at the Sugarloaf Project and to maintain the momentum the Company has built since listing in 2005."
Tue, 10 Jun 2008 10:01:00 +0100
"Spectacular" flow rates push Empyrean higher
Texas Crude confirmed that fracture stimulation operations over around 900 feet of the horizontal section of the well flowed approximately 2.5 million cubic feet of gas per day and 950 barrels of condensate per day with no water. The flow occurred on a 14/64 inch choke and a flow tubing pressure of 4000 psi.

Empyrean added that on current condensate to gas conversion rates of 10 to 1, the gas equivalent flow rate was an impressive 12 million cubic feet.

“These flow rates are spectacular from an acid frac of only 900 feet of horizontal with only 5 sets of perforations. To be getting such a great condensate flow is also very pleasing given where the oil price is right now. Our shareholders have been patient and it is pleasing to see this being rewarded as the completion methods learnt early on in the project are being successfully implemented by the operator.” said Tom Kelly, Executive Director of Empyrean Energy.
Wed, 28 May 2008 10:32:00 +0100
Empyrean jumps on Kennedy 1 well result
The Kennedy A1 well, which lies on Block B of the Sugarloaf Prospect in Texas, USA, is operated by Texas Crude Energy. Texas Crude confirmed that a reservoir stimulation program on Kennedy 1 well had thus far recovered 1,274 barrels of fracture fluids, 257 barrels of condensate and small quantities of gas. The pay zone is 120 feet thick, which has the potential to "more than double" the recoverable reserves from the project.

"This is very encouraging news for the project as a whole because we now may have approximately 150% larger potential recoverable volumes when you add this new "middle pay zone" to the "upper pay zone" that we had already proven commercial from the testing of the Block A wells. Significantly, this test at Kennedy was a relatively small fracture stimulation conducted over a relatively small horizontal section of the well and we would expect that much better flow rates can be achieved using knowledge gained from these early wells. The completion technique used on this most recent test should measurably improve the production rates for the third potential pay zone, a lower zone some 50 feet thick, which was initially tested by the Sugarloaf-1 vertical well." said Tom Kelly, Executive Director of Empyrean Energy.

Tue, 27 May 2008 07:31:00 +0100
Empyrean rises as Kennedy 1 begins fracture stimulation
The well is operated by Texas Crude Energy International, who advised the partners that a 600 feet section of the horizontal section of the well had commenced reservoir stimulation yesterday. Thus far 940 barrels of fracture fluid had been recovered, including about 30 barrels of condensate and minor gas.

The significance of the condensate and minor gas will not be known however until the program is complete, which is expected to take several days.

Mon, 19 May 2008 07:46:00 +0100
Empyrean investors brace for Kennedy 1 well result
Empyrean added that the Kennedy Well 1 would initially test the upper part of the middle zone of the chalk zone. Any discovery of commercial gas in the middle zone could add substantial production and reserves to the Sugarloaf project. Other commercial discoveries at Sugarloaf have focused on the upper zone, so Empyrean was keen to emphasise that even a non-commercial discovery in the middle zone did not impact on the upper zone's potential.

Wed, 07 May 2008 10:47:00 +0100
Empyrean continues to see commercial flows at A-1 well
Tom Kelly, CEO of Empyrean said:

"This well is flowing nicely to sales. Importantly this well is flowing from about 900 feet of perforations from a total 2700 feet of horizontal well. When the well is stimulated it is likely the operator will add perforations as well as performing multiple fracture stimulations with the aim of enhancing the flow rates".

Wed, 30 Apr 2008 09:00:00 +0100
Empyrean Energy is a Texan rollercoaster ride Mon, 28 Apr 2008 23:00:00 +0100 Empyrean Energy soars on Sugarloaf success
Shares in Empyrean have soared over 200% in the last week on the back of several positive updates from Block A and Block B oat the Sugarloaf Prospect, where the company’s working interest ranges from 6% to 18%.

Empyrean said that the TCEI JV Block A-1 well unexpectedly began to flow commercial quantities of gas and condensate during operations to prepare the well for a fracture stimulation and flow testing program. The well flowed at around 0.66 million cubic feet of gas per day and 130 barrels of condensate per day with 45 barrels of water per day.

Executive Director Tom Kelly, added:

"This gas and condensate flow has come as a very pleasant early surprise as the well was not expected to flow without stimulation. We could see a multiple on these production rates if fracture stimulation proves successful. This well also had liner cemented in place whereas future wells are likely to be completed without cement using perforated liner slotted into the open hole. We now have 2 wells flowing commercially from the 5 wells already drilled to date (3 of which are yet to be tested) further de-risking the project."
Mon, 21 Apr 2008 10:32:00 +0100
Empyrean recovers on management statement
Yesterday Empyrean released a broad update on its exploration interests. In the update the Company said its 44% working interest in six shallow wells at Margarita had gross production of 32,104 mcf of gas and 1,121 barrels of oil in January. The Company added that it had decided not to partake in additional deep drilling programs at Margarita as "management feel there are better risk versus reward opportunities elsewhere."

The Company also updated investors on activities on the Sugarloaf / Sugarkane projects, where it is earning into a aggressive 16 well program, and Empyrean added that it was finalising plans for additional seismic programs at the Glantal Gas Project in Germany,

Empyrean also confirmed that it has around £1.46 million in the bank and was in credit with the operators of the Sugarloaf/ Sugarkane projects in the USA.

Tue, 19 Feb 2008 11:10:00 +0000
Empyrean Energy gas flows at test well - near sales pipeline
The company reports that preparations for testing gas zones at two other Project Margarita wells are in hand, and a drilling rig has arrived to prepare to test one of them. Empyrean Energy holds a 44% stake in the Margarita Project.

Commercialisation of any discovery made on these three prospects will be rapid as the project area is traversed by a number of gas pipelines with access rights and capacity available.

Empyrean also announced today that Malcolm James has resigned from the Board for personal reasons.

Empyrean Energy’s shares rose 2.5p (5.68%) to 46.50p this morning.
Tue, 03 Jul 2007 10:49:00 +0100
Empyrean Energy says Hosston Formation to be plugged off Hosston Formation on the Sugarloaf-1 Well had only minor gas shows. As a result of the poor readings, Empyrean will plug off the Hosston Formation and move up to the Cretaceous carbonates. Empyrean added that the most significant gas indications were obtained in the Cretaceous carbonates above 14,000 feet.

Empyrean Energy dropped 12% to 37p on the disappointing update.
Mon, 12 Mar 2007 07:27:00 +0000
Empyrean Energy goes To the moon and back again. Thu, 25 Jan 2007 23:00:00 +0000