Empyrean expects initial resource estimates for Jade and Topaz within weeks

Empyrean Resources said it had successfully completed the seismic survey for its 29/11 block offshore China on schedule, including additional data to help evaluate a possible tie-in between its Jade and Topaz prospects and an existing neighbouring oil discovery.

Furthermore, the oil and gas development company added it had already begun analysing the raw data and that some initial results might be forthcoming in a matter of weeks.

Empyrean CEO Tom Kelly said "Whilst the full processing and interpretation will take some months to complete fully, we will be able to fast-track some of the initial processing of raw data over our key prospects, Jade and Topaz. This is expected to give potential resource size estimations for Jade and Topaz within weeks".

The Marine Seismic Survey acquired 3D data covering the 580 square kilometres of Block 29/11, plus 28 square kilometres from along the western boundary of the same block extending over the LH23-1d oil discovery.

"The additional data is expected to allow Empyrean to evaluate the extent of a potential geological tie between the LH 23-1d oil discovery and Jade and Topaz," the cmpany said in a statement.

The company's shares were down -1.39% to 8.88p by 08:59 BST