PROJECTS: GLANTAL PROSPECT, GERMANY
(EME Interest 40%)
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Above: Location of Glantal Prospect
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Empyrean Energy Plc currently has an assigned 40%
working interest in the Neus Bergland Permit and has acquired the
rights to earn up to a 52% working interest (subject to meeting
further expenditure requirements as per the terms of the Farm-in
Agreement and the Permit).
The first well, Glantal-1, was spudded on 29
November 2005 and was drilled to a total depth of 1,687 metres.
Four zones considered to exhibit reservoir qualities were tested.
Only one interval returned gas, in uneconomic quantities, and the
well was consequently plugged and abandoned.
Despite test results, the prospectively of the
project still remains high. Glantal-1 results proved the existence
of seal (one of the greater pre-drill risks), the presence of
fractures as a major component of reservoir effectiveness and the
presence of gas during drilling and in the drill stem test number
four.
On 28 November 2006, an application to extend the
permit to 12th December 2009 was granted by the German
authorities.
Following the results of Glantal -1, the operator
Pannonian International Ltd and Empyrean have decided to embark on
a seismic acquisition programme focussed on the Lautertal
structure to the east of Glantal. It was agreed that the same high
maturation readings encountered at Glantal-1 risked being
encountered in an updip well (Poltzberg Anticline). And even
though the Glantal prospectivity remains intact, Lautertal
presented a more attractive potential target. The results of the
2D vibroseis seismic programme of approximately 125km, will need
to be analysed prior to choosing locations for drilling at
Lautertal.
PARTNERS
A subsidiary of Galaxy Energy Corporation (USA
Listed). Galaxy is engaged in the development of coal bed
methane and other unconventional and conventional natural gas
properties in the USA and other countries.
The technical team engaged by Galaxy (and
Pannonian) to manage the Glantal Prospect has over 100 years
cumulative experience in the energy sector, covering
identification, exploration, development and exploitation.
Established in 1986, Houston based Monoco (an
unlisted company) is an active participant in international
petroleum exploration and development.
Hills Exploration is a private investment
company in the petroleum exploration sector and has provided
funding, along with Monoco, for several large petroleum
exploration concessions over the last decade.
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