Empyrean Energy updates on Dempsey exploration as programme continues
“We are delighted that the drilling of the Dempsey well is progressing well and continues to meet its targets," Tom Kelly said
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LON:EME
Empyrean Energy PLC is a London AIM listed oil and gas explorer. The company is currently focused on three cornerstone assets with transformational potential: Block 29/11 offshore China; the Duyung PSC offshore Indonesia and a multi project participating interest in the Sacramento Basin, California.
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“We are delighted that the drilling of the Dempsey well is progressing well and continues to meet its targets," Tom Kelly said
The FTSE 100 index finished down around 44 at 7,498, above the session low of 7,475.83, but unable to reach the opening peak of 7.542.73
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“This is an exciting time for Empyrean and we look forward to updating our shareholders on the drill progress over the coming weeks."
Around 3pm, the UK benchmark index was ahead almost 65 points at 7,476, just holding off the day’s peak of 7,484.53 hit after the Bank of England left UK rate unchanged
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Companies featured: Cabot Energy, Hurricane Energy, Empyrean Energy, Stratex International, AdEPT Telecom, Action Hotels, Be Heard, blur Group, Statpro
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Some of the day's headlines on the Proactive Investors newswire
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The well will be the first to test the primary reservoir formations in this portion of the under-explored Sacramento basin
With an hour and a quarter of trading to go, the UK benchmark index was ahead 58 points at 7,430, just easing back from the afternoon peak of 7,438.90
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A glance at some of the stories on the Proactive newswire today...
"We are delighted with Sacgasco's news that the drill pad is ready for the Dempsey well," Tom Kelly said.
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A glance at some of the stories on the Proactive newswire today
From Telford to the Thames ... Michelmersh's bricks from its Blockleys plant in Telford will be used on one of London's most iconic structures
Tom Kelly, Empyrean’s CEO, said: "With the permit secured and the drilling contract signed we are excited for Dempsey 1-15 to be spud in the very near future as we look to prove up a substantial 1Tcf+ prospect"
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The top-shares index pushed on again in the afternoon session despite an indifferent showing on Wall Street
“This is a very exciting time for Empyrean," said chief executive Tom Kelly.
A look at some of the biggest risers and fallers among London-listed small cap stocks
A look at today's biggest risers and fallers of London's small cap stocks
The successful gas well comes as the group has 'aggressively' advanced its transformation programme following last year's major divestment in the United States.