Empyrean Energy confirms four new gas zones at Dempsey 1-15

Ikaba Koyi WebFG News | 21 Aug, 2017 11:54 | | |

aspecto de la protoestrella con gas en azul que se acerca y rojo que se aleja
  • 16.63
  • -7.64%-1.37
  • Max: 18.00
  • Min: 16.26
  • Volume: 5,525,687
  • MM 200 : n/a
17:30 17/11/17
  • 8,509.26
  • 0.17%14.55
  • Max: 8,567.54
  • Min: 8,431.65
  • Volume: 0
  • MM 200 : n/a
17:18 17/11/17
  • 1,023.43
  • 0.18%1.82
  • Max: 1,023.88
  • Min: 1,021.32
  • Volume: 0
  • MM 200 : n/a
17:25 17/11/17

Empyrean Energy confirmed the existence of four gas zones in the shallower parts of its Dempsey 1-15 well in Sacramento, California which the company believes will provide enough cash-flow to at least cover the costs of the well, as they had hoped for.

The AIM-listed company said the well's operator, Sacgasco had informed it that four gas zones had been confirmed by wireline and mud logs in sandstones lying between 1,000 and 1,560 metres deep.

Net pay estimates from the logs ranged from 30-50 feet in undrained fault block.

"This is excellent news in any well where you have shallow pay zones logged before you embark on the exciting drilling of significantly larger deeper primary prospects," said Empyrean chief Tom Kelly.

Casing had also been run to a depth of roughly 1,750 metres and was already being cemented in preparation for drilling ahead into the remaining 5-plus interpreted prospective sandstone reservoirs.

The company's shares were flat at 9.25p by 10:01 BST

More news

17 Nov Europe close: Stocks slip going into the weekend

Stocks reversed early gains as investors opted to play it safe going into the weekend and the euro edged a tad higher on the back of the political gyrations on Capitol Hill.

17 Nov Europe open: Stocks start slightly higher, analysts wary

Stocks have started the morning trading slightly higher, tracking overnight gains on Wall Street but analysts are worried about buying into Thursday's bounce.

17 Nov London close: Stocks finish week on down note

London's top flight index slipped on Friday, but managed to finish well-off its lows of the session despite renewed Brexit angst as the pound gave back early gains.

17 Nov Kingfisher gets RBC upgrade as 'reasons to be cheerful' in France

DIY retailer Kingfisher has more "reasons to be cheerful" thanks to an improving French outlook, analysts at RBC Capital Markets said on Friday, while clothes seller Supergroup remains "compelling" but its shares have gained a lot in recent weeks.

17 Nov NAV on the rise as Alpha Real Estate Trust turns focus to build-to-rent market

Real estate investment group Alpha Real Trust saw its net asset value (NAV) rise in its first half of trading as it moved to make further investments in build-to-rent projects.

17 Nov Pacific Industrial & Logistics completes sale of Bedford asset

Industrial and logistics-focussed real estate investment trust Pacific Industrial & Logistics has completed the sale of an asset located at Hammond Road, Bedford, for a total consideration of £5.8m, it announced on Friday.

17 Nov DP Poland cuts ribbon on 50th Polish Domino's store

DP Poland, which holds the exclusive master franchise for the Domino’s Pizza brand in Poland, celebrated the opening of its 50th location in the country on Friday.

17 Nov Mercia Technologies makes new investment into Aston EyeTech

National investment group Mercia Technologies has made a new direct investment into Aston EyeTech - a spinout from Aston University, Birmingham - which has developed a range of proprietary hardware and software products in ocular care, it announced on Friday.

17 Nov SimiGon receives final approval for $2m Israeli Air Force order

Modelling, simulation and training solutions provider SimiGon has now received final regulatory approval for a $2m purchase order received from the Israeli Air Force, initially announced on 20 June 2016, it confirmed on Friday.

17 Nov Agriterra losses grow after 'subdued' interest in corn products

Agricultural investment group Agriterra saw losses widen in the first half of its trading year as subdued demand for its maize flour products slashed revenues by more than a third.