Empyrean Energy PLC (AIM:EME) continues to count down to the start of drilling for the Jade exploration well, offshore China, as it confirmed the rig has now arrived at the well location, following weather delays.
Spudding of the well is now anticipated to commence on or around 10 April, the company said.
"Towing operations have unfolded a little quicker than we expected and we are now counting down the hours until we spud one of the highest potential impact and eagerly anticipated wells of 2022,” said chief executive Tom Kelly.
“We look forward to providing updates as the drilling starts and further progress is made.
“It is no mean feat that Empyrean, guided by executive technical director - Gaz Bisht, was awarded the Block 29/11 permit, successfully carried out 608km2 of 3D seismic, conducted oil migration studies, gas cloud studies, and seismic inversion studies and is now about to drill a 395mln barrel potential in place conventional light oil target at Jade."