Empyrean Energy Plc (LON:EME) told investors that drilling is expected to start in California later today.
The programme, for the Dempsey 1-15 well in the Sacramento basin, is expected to have between 30 to 40 days of drilling.
Empyrean has a 30% stake in the well, which will be drilled down to a depth of 10,000 feet to target the Dempsey which is a 1 trillion cubic feet gas prospect (which itself comprises seven stacked conventional sandstone reservoir targets).
It is the first well to test the primary reservoir formations in this portion of the under-explored Sacramento basin, the company added.
"With drilling now expected to be underway at Dempsey within hours, we look forward to the next 30 to 40 days as the 1Tcf+ prospect is targeted,” said Tom Kelly, Empyrean Energy chief executive.
“Similar reservoirs have been interpreted to indicate pipeline quality "dry gas" which bodes well should Dempsey 1-15 be successful as the well is located next to existing gas metering and surface infrastructure that is owned by the joint venture.
“I look forward to reporting on the drill progress over the coming weeks with the hopes of adding another discovery to our portfolio in 2017 following the success of our Mako South-1 well offshore Indonesia."