DRILLING

Empire stock stumbles on dry Eclipse well

A non-commercial Eclipse No.1 well, one of Empire's core prospects, has seen the company's stocks crumble by close to 50%.

The well is located in the North Perth Basin, about 60km north of the city and was spudded on the 18th of April 2003, primarily in a search for gas.

The company drilled ahead with 8 1/2 inch hole to a total depth of 3660m while wire logging, recorded from 3660m to the casing shoe at 1796m, demonstrated good sandstone reservoir quality and thick sealing shales in the Cattamarra Coal Measures. However, the logs showed the reservoirs have not been charged with gas.

Oil shows were recorded in the sandstones between 3601m to 3660m in zones 2-3 m thick, but not of commercial thickness.

Empire stock was trading at 0.5 cents at press time.

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