PROJECTS: GLANTAL PROSPECT, GERMANY 
(EME Interest 40%)


Above: Location of Glantal Prospect

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

  • Pannonian International Ltd

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.

  • Monoco Petroleum Inc

Established in 1986, Houston based Monoco (an unlisted company) is an active participant in international petroleum exploration and development.

  • Hills Exploration Corporation

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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