Empyrean Energy Share Discussion Threads

[bskiny1] 19/10/2017 16:47

Did they not say if the lower zones flowed there is a formula for estimating the others...

[peterpowell21] 19/10/2017 16:44

mich

i agree, they need to prove up the whole well.
So it seemed a funny thing for them to have said.
I think they will test the lot, seven zones if they can.
Is it possible to test all the zones.If there is that much gas pressure it would have to be flared to get the result.they said, The testing is being planned around tubing conveyed perforating equipment that is expected to provide deep "1 metre plus" penetration into the multiple potential gas reservoir zones.
Well they could test each zone and inform the market and us as they do so. could be very interesting times ahead.

[swampydrill] 19/10/2017 16:41

But they have a fair idea the upper zones flow, hopefully testing the lower zones will show that these are prolific

[michmcd] 19/10/2017 16:41

I really hope so dinga, but its not the way the release reads.

[thegreatgeraldo] 19/10/2017 16:38

I wasn't referring to chucking the packers. If the bottom zone flows well, I think they'll stop there. No point arguing about it, we'll find out soon enough.

[kirkuk] 19/10/2017 16:37

Have to agree with Dinga. They need to prove up the whole
asset.

[d1nga] 19/10/2017 16:36

retrievable packers tgg

[thegreatgeraldo] 19/10/2017 16:32

Don't think so Dinga, that would make sense on a throwaway well, not on a well they hope to produce from.

[d1nga] 19/10/2017 16:29

test lower zone - set packer

test next zone - set packer repeat until all zones tested , surely??

[cmackay] 19/10/2017 16:26

Tgg, yes I think you are right. It would be odd to have no flow rate. As you say, if the deepest zone has adequate resource then the rest won't be tested.

[herschel k] 19/10/2017 16:24

that's my issue too mich - as soon as they know it's commercial flow they will put it on production, so whatever zone they are producing from is the only zone they will get any mid-term (ish) flow and pressure data for........which won't tell us how much more of the structure could produce, for how long, etc.

it would bode well of course, but could be a bit frustrating to not know for a while.

[michmcd] 19/10/2017 16:14

yeah I agree, and on the one hand the sooner its earning the better, but my concern with that is that they may not feel the need (or be able) to publish the total cumulative value of the well if they only test the lower reserve. Leaving us in the dark for the future potential value.

[peterpowell21] 19/10/2017 16:13

Seems this 23.5p is a very resilient point to break through.

[peterpowell21] 19/10/2017 16:07

harrissen

i think the testing will take no time at all.
If they are going to only test until they have enough gas that the pipeline can handle, it looks as if the bottom net pay will do that.
So we could hear news very early next week.

[herschel k] 19/10/2017 16:06

Terry Hardacre 19 Oct '17 - 15:48 - 11018 of 11020

Make sure you order extra chips...........

[harrissen] 19/10/2017 15:57

Sacgasco Ltd to begin next phase of Dempsey well drilling

Published by Louise Mulhall, Editorial Assistant

Oilfield Technology, Thursday, 19 October 2017 10:00

Sacramento Basin-focused natural gas developer and producer, Sacgasco Ltd has advised that Paul Graham Drilling Rig 3 and associated equipment has moved onto the Dempsey 1-15 well location to carry out the planned and previously announced completion and testing programme.

On the way to the Dempsey site the rig undertook a successful re-completion of one of the adjacent JV-owned producing wells at the Rancho Capay Gas Field.

Additional information on the Dempsey well will be provided as testing is carried out.

After farm-in working interests in the Dempsey gas project:
•Sacgasco Limited (ASX: SGC) (Operator): 50%
•Empyrean Energy PLC (LON: EME) : 30%
•Pancontinental Oil and Gas NL (ASX: PCL) :10%
•Xstate Resources Limited (ASX: XST) :10%

Sacgasco Managing Director Gary Jeffery commented:

“The rig and crew have safely and efficiently finished the nearby well workover and the increased gas production will be sold via the existing JV pipeline and metering connections. The re-completion provided a valuable preparation for the imminent Dempsey testing programme. The arrival of the completion rig signals the beginning of the next exciting phase of the Dempsey 1 - 15 well.

“As previously advised, the Dempsey 1-15 well intersected a number of porous potential reservoir zones which resulted in significant gas shows while drilling. The high-pressure rated equipment to be used for the upcoming testing operations has been sourced.

“This programme will follow good oilfield practice by beginning testing from the bottom of the well. The natural gas meter adjacent to the Dempsey well is ready for gas flows from the Dempsey well.”

[peterpowell21] 19/10/2017 15:56

terry

That news has brought a tear to my eye.LOL

cMackay

Think i started reading it today on here.

Anyway i will be the first to say it.
I WOULD NOT WANT TO BE OUT OF THIS OVER THE WEEKEND.

[terry hardacre] 19/10/2017 15:48

Peter - too late, we're checked in and ordering room service

[harrissen] 19/10/2017 15:47

Hold is the only option now. Nobody would try and trade it at this stage imo. There has to be a steady climb in the share price going forward as experienced PIs take positions for the end game. The testing will start from the bottom up, there could be several no flow holes to begin with but it takes only one to flow commercial and we are in business. Jeffers said they would definitely at least flow enough commercial gas from this well to pay for all expenses going forward - and he should know!

[thegreatgeraldo] 19/10/2017 15:46

What did you think of my answer to your earlier question?

[cmackay] 19/10/2017 15:46

I've never read Love Story, I take it you didn't enjoy it Peter ;)

[cmackay] 19/10/2017 15:45

Starzerus I wonder what the share price will be when we get to post 678910.

[cmackay] 19/10/2017 15:43

Tgg, best post ever!

[peterpowell21] 19/10/2017 15:42

Terry and herschel

Will you two just get a room, its like reading Love story.

[thegreatgeraldo] 19/10/2017 15:05

Binary palindrome....