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 it has received notice from its joint venture partner, Condor Energy Services Ltd (“Condor”), that the rig package arrived on location and rig up for the Wilson River – 1 well has commenced.
Completion of the rig up and testing is expected this week, with the Wilson River-1 well anticipated to spud during the coming weekend on Saturday 15th or Sunday 16th March.
A further update will be provided once the well spuds.
The Farm in Agreement formalises Empyrean’s earn in to ATP1173 by funding part of the drilling of the Wilson River-1 well. Following the earn in, the respective JV Partners working interests will be Empyrean 52.8%, Condor Energy Services Ltd 27.2% and Chi Oil and Gas Ltd 20.0%.
Condor Energy Services Ltd has been retained to drill and test the well.
Empyrean CEO, Tom Kelly commented, “Condor Energy Services has done a great job with preparations to drill the Wilson River-1 well. Empyrean would like to thank the team at Condor for the safe, efficient and professional way in which they have coordinated all aspects of the drill preparation so far. We look forward to updating investors as the progress on the well continues.”
For further information please visit www.empyreanenergy.com or contact the following:
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Empyrean Energy plc |
Tel: +61 (8) 6146 5325 |
