Empyrean Energy (EME: AIM), the oil and gas development company with interests in China, Indonesia and the United States JV with Sacgasco Limited (ASX: SGC) (“Sacgasco”), the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California.
Today we cover both companies, and we are sure you will find these video’s, podcast’s full of information. Sacgasco’s Managing Director, Gary Jeffery presentation at this years RIU Good Oil Conference in Australia helps explain the company, Dempsey 1-15 well.
Empyrean has a joint venture with ASX listed Sacgasco Limited on a suite of projects (EME: 25-30% WI) in the Sacramento Basin, onshore California, USA.
Gaz Bisht, Executive Director studio interview on Share Talk TV
The Dempsey 1-15 well has successfully drilled the largest mapped structural closure in the northeastern part of the prolific Sacramento Gas Basin and is interpreted to have trapped gas in multiple potential reservoir zones.
Empyrean Energy plc (EME: AIM), launched a new Company website, which can be accessed at: www.empyreanenergy.com. The website gives full details on the Company’s assets in Indonesia, offshore China and America.
Sacgasco’s Managing Director, Gary Jeffery, gives an update at the RIU Good Oil Conference in Australia.
Share Talk have highlighted, interviewed Empyrean Energy PLC (AIM:EME) over 2016/17 and we have to thank Olivia, Charlotte, Lottie and the PR company St Brides for introducing us to the Empyrean Energy team.
Here are a few podcasts we have conducted with the company: Pocasts LINK
All interviews can be found on this link: audioboom.com/sharetalkltd
Dempsey Prospect and Dempsey 1-15 Well
Dempsey is a large structure mapped with 3D seismic and interpreted by Sacgasco to have the potential to hold a prospective resource of over 1 Tcf of gas in up to seven stacked target reservoirs. Individual, unrisked Deterministic Prospective Resources for the primary targets range from 116 Bcf to 352 Bcf of recoverable gas. Should all the stacked reservoirs be full of gas, the cumulative unrisked recoverable Prospective Resources within the Dempsey prospect could exceed 1 Tcf.
The primary targets are interpreted in a series of Cretaceous sandstone reservoirs that exhibit structurally consistent amplitude anomalies similar to those that are observed on seismic data elsewhere in the basin where conventional sandstone reservoirs have trapped natural gas in mapped structural closures, for example the Tulainyo / James and Alvares wells.
Sacgasco expects to intersect gas shows in a number of zones in the Dempsey 1-15 well and these will be assessed based on the information available, but quantitative results will need to await conventional logging after drilling each section of the well and may need flow testing to be definitive.
The Dempsey 1-15 well is planned to be drilled in three discrete sections to depths of approximately 600m, 2,000m and 3,200m associated with decreasing planned casing sizes. The well has been designed conservatively to provide flexibility to respond to well bore conditions and progressive results.
Empyrean Aside from compelling technical merit, the Dempsey 1-15 well location sits next to existing gas metering and surface infrastructure that is owned by the joint venture. This will allow for any gas discovery to be tested and connected into the local pipeline at relatively low cost and in an accelerated timeframe.
