Last checked at 22 May 2020 07:00
This announcement contains inside information
Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas
Empyrean Energy plc
Duyung PSC Update, Indonesia
22 May 2020
Empyrean Energy plc ("Empyrean or Company"), the oil and gas development company with interests in China, Indonesia and the United States, advises that all necessary Indonesian regulatory approvals for the transfer of title of the 15% direct interest in the Duyung PSC to Coro Energy Plc ("Coro") have now been received. Accordingly, final completion of the acquisition of the PSC Interest from West Natuna Exploration Ltd has occurred.
The license holders of the Duyung PSC are now Conrad Petroleum Ltd (76.5% operated interest), Coro (15% non-operated interest) and Empyrean Energy plc (8.5% non-operated interest).
Empyrean looks forward to the publication of the revised independent reserve audit report from Gaffney Cline & Associates following the successful appraisal drilling campaign in the fourth quarter of 2019, which is expected to be announced later in the month.
For further information please contact the following:
Empyrean Energy plc Tom Kelly |
Tel: +61 8 6146 5325 |
|
|
Cenkos Securities plc Neil McDonald Pete Lynch |
Tel: +44 (0) 131 220 9771 Tel: +44 (0) 131 220 9772 |