Empyrean Energy Provides Dempsey Gas Well Update

Announced Date :  Nov 14, 2017

Empyrean Energy, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has been informed by Sacgasco Limited ("Sacgasco"), the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that flow-testing and completion of the well is continuing as planned.
The well's lowest zone, a thin sand with poor reservoir characteristics based on the wireline logs, has been perforated and has flowed clean, dry natural gas and no water. The gas has flowed at rates that are sub-commercial at current gas market prices. However, analysis of this zone, and its full potential, remain at an early stage. The tested zone has been isolated and preparations are underway for the next stage of testing which will target the next shallower zone of gas shows.

Empyrean CEO Tom Kelly commented, "Testing of Dempsey 1-15 is continuing in a safe and efficient manner. Whilst the lowest zone has been determined as "sub-commercial" at the current gas prices, we remain optimistic as to the potential of the Dempsey 1-15 well following the significant gas shows encountered whilst drilling and we look forward to seeing more encouraging results from further upcoming tests."

Dempsey Prospect and Dempsey 1-15 Well

Dempsey is a large structure mapped with 3D seismic and interpreted by Sacgasco to have the potential to hold a prospective resource of over 1 Tcf of gas in up to seven stacked target reservoirs. Individual, unrisked Deterministic Prospective Resources for the primary targets range from 116 Bcf to 352 Bcf of recoverable gas. Should all the stacked reservoirs be full of gas, the cumulative unrisked recoverable Prospective Resources within the Dempsey prospect could exceed 1 Tcf.

The primary targets are interpreted in a series of Cretaceous sandstone reservoirs that exhibit structurally consistent amplitude anomalies similar to those that are observed on seismic data elsewhere in the basin where conventional sandstone reservoirs have trapped natural gas in mapped structural closures, for example the Tulainyo / James and Alvares wells.

Aside from compelling technical merit, the Dempsey 1-15 well location sits next to existing gas metering and surface infrastructure that is owned by the joint venture. This will allow for any gas discovery to be tested and connected into the local pipeline at relatively low cost and in an accelerated timeframe.

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