Empyrean preparing to take delivery of Jade drilling rig

25th Mar 2022 12:31

(Sharecast News) - China, Indonesia and US-focussed developer Empyrean Energy updated the market on preparations to drill the Jade prospect at its wholly-owned block 29/11 permit, offshore China on Friday.

The AIM-traded firm said the China Oilfield Services (COSL)-owned NH9 drill rig was being handed over to Empyrean in the coming days for safety checks, ahead of drilling the Jade well.

It said mobilisation of the rig to Jade was expected on or around 27 March, with the Jade well currently anticipated to spud on or around 2 April.

"We are delighted that we are now days away from being ready to spud one of the highest impact and exciting wells of 2022," said chief executive officer Tom Kelly.

"Things are getting very real for our team and we look forward to providing shareholders and investors with further updates."

At 1156 GMT, shares in Empyrean Energy were up 1.94% at 10.78p.