Empyrean Energy (EME: AIM), 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 (ASX: SGC) (“Sacgasco”), the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that preparations for completing and flow-testing the Dempsey 1-15 well are continuing as planned.
Safety testing of the equipment is on-going ahead of the perforation of the lowermost zones in the well for natural gas flow evaluation. Prior to this, a number of steps need to be taken including the cleaning out of the lower well bore; cement bond log run and evaluate for well bore protection integrity; and then the assembly and running of completion equipment and tubing conveyed perforating tools is required.
Empyrean CEO Tom Kelly commented, “With significant gas shows observed whilst drilling we are eager for the completion of the Dempsey well. Sacgasco has been putting all the necessary preparations in place for the upcoming testing operations including the stringent testing of the equipment to ensure a safe operation. The gas meter station at the Dempsey well which is owned by the JV is ready for gas flows to allow any commercial discovery to be fast tracked into production and sales, and we look forward to providing the market further information as testing unfolds.”
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.
This announcement has been reviewed by Empyrean's Technical Director, Mr Frank Brophy BSc (Hons), who has over 40 years experience as a petroleum geologist.
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