Empyrean announced being awarded the Drilling Contract for Jade Prospect.  Block 29/11, China –  The Drilling Contract for Jade Prospect including a significantly reduced drilling cost estimate and December target Spud Date.

Share Talk took the opportunity to arrange an interview with Tom Kelly CEO, Director & Gaz Bisht Executive Director (China) to ask a few questions and listen to what the company has in store for shareholders. 

Here is the list of questions we asked 

  • So the spud date for the Jade prospect is being targeted for 15th to 30th December, can you tell me how long it will take for the well to be drilled and how soon afterwards the results will be known and announced to the market?

  • In the RNS you say that from your 3D seismic, that the basin is a classic “fill to spill” setup, can you explain what you mean by this?

  • Upon making a commercial discovery what percentage will Empyrean have?  Would you then look to take this into production or bring in another partner?

  • Are there any nearby producing oil fields or discoveries to Jade?

  • If you make a discovery at Jade, what do you think the revised geological chance of success for discovery will then be for the nearby prospects Topaz and Pearl?

  • Is there any further news to report on your Mako gas field investment in Indonesia?

Block 29/11 is located in the Pearl River Mouth Basin, offshore China.

Block 29/11 is a large block – 1806 square kilometres – located in the prolific Pearl River Mouth Basin, offshore China, approximately 200km southeast of Hong Kong.