Empyrean Energy (EME)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.40p
   
  • Change Today:
      0.029p
  • 52 Week High: 1.23
  • 52 Week Low: 0.32
  • Currency: UK Pounds
  • Shares Issued: 1,280.80m
  • Volume: 1,332,692
  • Market Cap: £5.12m
  • RiskGrade: 293

Empyrean Energy pleased with progress at Dempsey 1-15

By Josh White

Date: Tuesday 29 Aug 2017

LONDON (ShareCast) - (ShareCast News) - China, Indonesia and US-focussed oil and gas development company Empyrean Energy announced on Tuesday that it has been informed by Sacgasco, the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that the well is currently drilling ahead in 8 1/2" vertical hole.
The AIM-traded firm said that during drilling, well mud weights had been increased regularly to 13.5 ppg to control "increasing levels" of background gas.

Multiple zones of "significantly higher than background" gas shows had also been encountered whilst drilling, and the best zone of gas shows had a gas level of over 500 times the background gas.

The company said the significance of those shows would become more apparent when the next wireline logs were run to more fully evaluate the encountered gas shows and reservoirs.

That was planned after reaching the proposed total drilling depth of approximately 3,200 meters.

Empyrean said the Dempsey 1-15 well was currently drilling ahead at 2,182 m to the under-explored deeper targeted reservoirs in the remaining 890 m of section to be drilled.

It said Dempsey was drilling the largest known, yet undrilled, mapped structural closure in the northeastern part of the prolific Sacramento Gas Basin, and was interpreted to be "optimally located" to trap gas migrating out of gas generating areas located to the west and south.

"On an operational level Empyrean continues to be impressed with Sacgasco and its local operational team's ongoing planning and execution of this exciting well," said Empyrean CEO Tom Kelly.

"From a technical viewpoint we are once again encouraged to see gas shows in zones that the pre-drill prognosis predicted would be interesting.

"We look forward to providing further updates as drilling progresses."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Empyrean Energy Market Data

Currency UK Pounds
Share Price 0.40p
Change Today 0.029p
% Change 7.82 %
52 Week High 1.23
52 Week Low 0.32
Volume 1,332,692
Shares Issued 1,280.80m
Market Cap £5.12m
RiskGrade 293

Empyrean Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.54% below the market average48.54% below the market average48.54% below the market average48.54% below the market average48.54% below the market average
17.33% below the sector average17.33% below the sector average17.33% below the sector average17.33% below the sector average17.33% below the sector average
Price Trend
88.88% below the market average88.88% below the market average88.88% below the market average88.88% below the market average88.88% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Income Not Available
Growth Not Available

Empyrean Energy Dividends

No dividends found

Trades for 17-May-2024

Time Volume / Share Price
15:59 16,000 @ 0.36p
15:52 12,254 @ 0.41p
15:52 1,038,961 @ 0.39p
12:08 258,732 @ 0.39p
08:08 6,745 @ 0.35p

Empyrean Energy Key Personnel

CEO Thomas Kelly
Finance Director John Laycock

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