Empyrean Energy

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Empyrean Energy Involves Itself In A California Appraisal Project Following Its German Venture In line with its strategy of investing in politically stable areas where there is a strong appetite for oil and gas.

Eagle Pool development project in the San Joaquin Basin in southern California. It is reckoned production of 1,000 barrels per day. Empyrean’s entry cost has been quite low but with oil selling at US$60 a barrel and gas going for at least US$10 per thousand cubic feet, this could become a good cash flow project for the company.

Of more immediate interest, however, is the German venture. Drilling on the Glantal-1 well on the Neues Bergland permit in Germany has already started. This permit, close to Frankfurt, contains the Pfalzer Anticline, a 515 sq km convex fold of rock strata containing deep coal beds overlaid by shale and sediments. There are indications that gas is present in the region. The nearby Saar Anticline, about 25 km southwest of the Neues Bergland permit, contains active coalmines with reports of natural gas leaks.
The Glantal-1 well is testing at least three potential pay zones at different depths: an independent expert has estimated the P50 recoverable reserves could be 1.2 trillion cubic feet and the total potential 6.2 tcf.