Empyrean Energy

Pannonian International Ltd (“Pannonian”), a wholly owned subsidiary of U.S.-based Galaxy Energy Corporation (OTC BB: GAXI) are the Operator of the project and have advised that drilling through the conductor pipe commenced on November 29th.

The Neues Bergland permit is located close to Frankfurt in Germany and contains the Pfalzer Anticline which is a 515 square kilometre structure containing deep anthracitic coal beds. The coal beds, too deep to mine economically, have been estimated by an independent expert to have generated several hundred trillion cubic feet (“TCF”) of gas, with a recoverable gas potential of up to 6.2 TCF in the first drilling prospect alone.