REG - Empyrean Energy PLC - Wilson River-1 Drilling Update

Empyrean EnergyAnnouncement

25/03/2025 07:15

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RNS Number : 0356C  Empyrean Energy PLC  25 March 2025

 

25 March 2025

This announcement contains inside information

 

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

 

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

Wilson River-1 well reaches TD with approximately 6m potential gross oil zone
interpreted on preliminary logs

 

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 provide an update on the Wilson River-1 well.

 

The Wilson River-1 well has reached total depth ("TD") of 1464m. Following
reaching TD, open hole quad combo logs were acquired to measure multiple
formation properties and reservoir characteristics. Based on preliminary log
analysis and hydrocarbon shows, including approximately 6m of potential gross
oil zone in one of the main target reservoirs, 7-inch production casing has
been run into hole and cemented to a depth of 1459.6m. The well has been cased
and suspended whilst expert petrophysical analysis is completed and the
results are compared with existing producing wells nearby to better define a
testing and completion regime.

 

The rig is on standby on location at no cost whilst the testing program is
decided upon. The petrophysical analysis is expected to be concluded within
one week and a further announcement will be made regarding this further
analysis and the agreed testing program in due course.

 

Empyrean CEO, Tom Kelly, stated:

 

"Empyrean is pleased that the Wilson River-1 well has reached TD safely and we
have a number of zones of interest upon which to carry out further analysis
before testing. The main zone of interest appears to share a number of
similarities on the preliminary log analysis to an existing producing well
nearby. We look forward to completing the necessary work to define our testing
program and would like to thank the team at Condor Energy Services for
completing the drilling and logging of the Wilson River-1 well safely and on
time. We look forward to providing shareholders with an update on further
analysis and the testing program shortly".

 

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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