Empyrean Energy PLC (LON:EME) Duyung PSC, Ops Update – Tambak-2 Well reaches TD

Duyung PSC, Operational Update – Tambak-2 Well reaches TD

· The Tambak-2 well reached Total Depth (“TD”) of 1,650 feet true vertical depth subsea (“TVDSS”) on 12 October 2019

· Top reservoir depth came in on prognosis, approximately 3 metres up dip from the Mako South-1 well

· Well-developed upper sandstone unit, greater thickness and overall quality than predicted with wireline logs showing excellent porosity and permeabilities

· Lower unit present, providing overall reservoir thickness of approximately 32 feet, relative to 24 feet seen in the Mako South-1 well

· Gas-water contact interpreted to be at 1,286 feet TVDSS, as also seen at the Mako South-1 well, confirming the very large areal extent of the Mako field

· The Tambak-2 well is a 13.5km step out from the Mako South-1 well

Empyrean Energy Plc, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to provide an operational update in relation to the drilling campaign in the Duyung PSC in the West Natuna basin, offshore Indonesia, in which Empyrean holds an 8.5% interest.

The Tambak-2 well has been drilled to a TD of 1,650 feet TVDSS. The coring programme, wireline logging and pressure surveys have now been completed and confirm the well as a successful appraisal of the Mako gas field.

As previously reported, the Tambak-2 well spudded on the 4th of October and is designed as an appraisal of the southern area of the Mako gas field. An independent review by Gaffney Cline & Associates had previously ascribed gross 2C resources of 276 Bcf (48.78 MMboe) of recoverable dry gas in the Mako field with gross 3C resources of 392 Bcf (69.3 MMboe) representing additional field upside.

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The next step in the campaign is an extensive Drill Stem Test (“DST”) programme, which will take place over the coming days and the market will be updated with results of this as appropriate.

Tom Kelly, Empyrean CEO commented, “The fact that we have confirmed good quality reservoir at a 13.5km step out from the Mako South-1 discovery well is an excellent step forward for this project. The wireline logs confirm excellent porosity and permeability and we look forward to the flow testing programme to commence. This is excellent news and progress so early on in our drilling campaign and, with a further well with additional high impact exploration potential to come, we look forward to updating our shareholders of further progress.”

The information contained in this announcement has been reviewed by Empyrean’s Executive Technical Director, Gaz Bisht, who has over 30 years’ experience as a hydrocarbon geologist and geoscientist.

 

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