Empyrean Energy announces Dempsey 1-15 well proceeding to plan

Mud logs from the well, which was believed to hold a prospective resource potentially in excess of 1 Tcf of gas in up to seven stacked target reservoirs, indicated that multiple intervals of interpreted significant gas shows in sandstones had been intersected at the producing gas field levels.

The rig at Dempsey 1-15 was drilling at a depth of approximately 1300 metres, the company said in a statement, and plans were for three discrete sections to be drilled to depths of 600m, 2,000m and 3,200m.

Empyrean also said that Sacgasco, the operator of the well, had requested and received approval from the regulator to keep records for the well confidential for two years, as allowed by section 3234 of the public resources code of California.

Since the Dempsey 1-15 well sat next to t existing gas metering and surface infrastructure owned by the joint-venture, any gas discovery could be tested and connected into the local pipeline at a relatively low cost and quickly.

Shares at the company were up 6.58% to 10.13p.