Project Margarita Update

6 Jun 2007 13:34

Empyrean Energy PLC06 June 2007 Empyrean Energy PLC ("Empyrean" or the "Company"; Ticker: (EME)) Update on Project Margarita, Gulf Coast Texas USA ------------------------------------------------- Phase 2 shallow drilling programme commences AIM quoted Empyrean Energy PLC today announces the following update regardingphase 2 of the shallow drilling programme at Project Margarita: The drilling rig has been moved into position at the Donna Carlota Prospect andthe Company is pleased to announce that Donna Carlota #1 well has been spuddedand that the operator last reported that the rig was drilling ahead at 350 feet. The prospects with mean potential target outcomes and final well depths aresummarised below. Prospect Potential Mean Reserves Total Well Depth Agavero 0.7 BCF 1,341 metresDona Carlota 0.8 BCF 1,524 metresClimaco 1.6 BCF 1,981 metres Participants in the Margarita Project are: Empyrean Energy PLC * 44.00%Sun Resources NL# 20.00%Victoria Energy NL# 20.00%Wandoo Energy LLC + 16.00%Total: 100.00% # ASX listed *AIM listed +USA Private Interest The information contained in this announcement was completed and reviewed by theTechnical Director of Empyrean Energy Plc, Mr Frank Brophy BSc(Hons), who hasover 40 years experience as a petroleum geologist. For further information: Charlie Geller/ Ed PortmanConduit PRTel: +44 (0) 207 429 6604/ +44 (0) 7970 067 320 Empyrean Energy plcTel : +44(0) 207 182 1746 Rod Venables/ Cecil JordaanHB CorporateTel: +44(0) 207 510 8600 This information is provided by RNS The company news service from the London Stock Exchange