LONDON (ShareCast) - (ShareCast News) - Western Australian based oil and gas exploration firm Empyrean Energy announced on Wednesday that drilling had been completed at Dempsey 1-15, its onshore Californian gas interest in the Sacramento Basin.
The well's operator Sacgasco Limited informed Empyrean that drilling intersected two further zones with high gas showings before reaching its target depth of 9,750ft to allow logging tools to fully evaluate the intersected target reservoirs.

Empyrean's Dempsey project was established in order to take advantage of the largest undrilled mapped structural closure in the northeastern part of the prolific Sacramento Gas Basin, the company said in a statement.

Tom Kelly, chief executive of the firm said, "Empyrean comments Sacgasco and its local operational team for reaching target depth safely."

The large structure mapped with 3D seismic was said to have the potential to hold a prospective resource of over one trillion cubic feet of gas in as many as seven stacked reservoirs.

As of 1115 BST, shares had dropped 1.83% to 24.17p.

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