Empyrean Energy Plc (AIM:EME) 1Tcf+ Dempsey Natural Gas Well Drilling Ahead

Empyrean, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has been informed by Sacgasco Limited (ASX: SGC) (“Sacgasco”), the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that drilling commenced at the Dempsey 1-15 well on 2 August 2017 (California time).

Dempsey 1-15 is currently drilling ahead in a 17 ½ inch hole at a depth of 70 meters (230ft). The well is expected to take 30-40 days to drill to ~10,000ft targeting the 1Tcf Dempsey natural gas prospect in which Empyrean has a 30% interest.

Tom Kelly, Empyrean CEO, commented:

“Drilling is now underway at the Dempsey 1-15 well and it is expected that Sacgasco will reach the Total Depth of ~10,000ft in approximately 30 to 40 days. This is an exciting time for Empyrean and we look forward to updating our shareholders on the drill progress over the coming weeks.”

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.

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.

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