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Empyrean Energy reports multiple ‘significant gas shows’ in Dempsey well

"We look forward to providing further updates as drilling progresses," said Tom Kelly, Empyrean chief executive.

onshore drilling operation
The well has a depth of 3,200 metres

Empyrean Energy Plc (LON:EME) has reported ‘significant gas shows’ have been detected in multiple zones in the Dempsey 1-15 well, in the Sacremento basin onshore California.

Drilling continues, but, a project update has informed investors that zones of significantly higher than background gas shows have been encountered during the programme.

The best zone of gas shows had a gas level of over 500 times the background gas, the company said.

Empyrean added that well mud weights have been increased regularly to control increasing levels of background gas.

The company told investors that “the significance of these shows will become more apparent when the next wireline logs are run to more fully evaluate the encountered gas shows and reservoirs.”

It is planned that logging operations will take place once the drilling reaches the proposed total drilling depth of around 3,200 metres – the well is presently at a depth of around 2,182 metres.

Tom Kelly, Empyrean chief executive, said: "On an operational level Empyrean continues to be impressed with Sacgasco and its local operational team's ongoing planning and execution of this exciting well.

“From a technical viewpoint we are once again encouraged to see gas shows in zones that the pre-drill prognosis predicted would be interesting. We look forward to providing further updates as drilling progresses."

Quick facts: Empyrean Energy PLC

Price: 9.35 GBX

AIM:EME
Market: AIM
Market Cap: £41.41 m
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