REG - Empyrean Energy PLC - Drilling of Wilson River-1 well commences

Empyrean EnergyAnnouncement

14/03/2025 07:15

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RNS Number : 7169A  Empyrean Energy PLC  14 March 2025

 

14 March 2025

This announcement contains inside information

 

Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas

 

Empyrean Energy PLC ('Empyrean' or 'the Company')

Drilling of Wilson River-1 well commences

 

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development
company with interests in Australia, Indonesia and the United States, is
pleased to announce that rigging up operations for drilling the Wilson River-1
well proceeded smoothly and that Condor Energy Services Ltd has advised that
the well spud in at 2.30pm Friday 14 March 2025 local time and that drilling
operations have now commenced.

 

Well Objective:

 

Wilson River-1 has been designed as a vertical oil exploration well in the
Northwest corner of ATP 1173 permit located Southwest Queensland, Australia.

 

The main objective of the well is to evaluate and test the hydrocarbon
potential of a seismically identified up thrown, structural fault bounded
high. The Murta, Birkhead and Hutton formations are the primary targets and
potential reservoir sands in Cadna-owie (Basal Wyandra) and Namur sequences
are secondary targets.

 

The prognosed total depth of the well is 1450m DRT (Depth Rotary Table)
estimated to be approximately 50mMD into the Basement facilitating effective
petrophysical analysis of the defined targets.

 

Forward plan

 

                It is planned to drill 12-1/4" hole section to
~350 mTVD/DRT and then run and cement 9-5/8" casing to surface. Following a
successful leak-off test, it is planned to then drill 8-1/2" hole to TD (Total
Depth) of ~1450mDRT.

 

                Based on the offset wells data, it is
anticipated that the well could reach the TD (Total Depth) within 5-6 days
from spudding.

 

Planned Formation Evaluation:

                It is then planned to acquire a "Quad Combo"
logging suite in the well for a comprehensive formation evaluation of target
zones. This will include Gamma Ray, Density, Neutron, Inline Dipole Sonic,
Laterolog Resistivity and Multi-Arm Caliper logs.

 

Once logs are evaluated, the well will be cased and suspended. It is
anticipated that log analysis and specialised petrophysical analysis may take
a few weeks after which a cased-hole DST (Drill Stem Test) will be considered
depending on the results.

 

Empyrean CEO, Tom Kelly, stated:"Empyrean is pleased to be drilling another
exploration well in a world-class basin. This basin benefits from extensive
existing infrastructure, which will enable the rapid commercialisation of any
successful discovery. We are excited about the opportunity and look forward to
updating our shareholders as we progress".

 

The information contained in this announcement has been reviewed by Empyrean's
Technical director, Gaz Bisht, who has over 35 years' experience as a
hydrocarbon geologist and geoscientist.

 

For further information please visit www.empyreanenergy.com
(http://www.empyreanenergy.com/)  or contact the following:

 

 Empyrean Energy plc                                               Tel: +61 (8) 6146 5325
 Tom Kelly

 Cavendish Capital Markets Limited (Nominated Advisor and Broker)  Tel: +44 (0) 207 220 0500
 Neil McDonald

 Pearl Kellie

 Novum Securities Limited (Joint Broker)                           Tel: +44 (0) 207 399 9400
 Colin Rowbury

 

 

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