Empyrean Energy PLC Holding(s) in Company (4240P)
June 05 2015 - 9:31AM
UK Regulatory
TIDMEME
RNS Number : 4240P
Empyrean Energy PLC
05 June 2015
Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil &
Gas
5 June 2015
Empyrean Energy PLC ('Empyrean' or 'the Company')
Holdings in Company
Empyrean Energy, the profitable US onshore oil, gas and
condensate exploration, development and production company with
assets in Texas and California, was notified on 5 June 2015 that Mr
James Kight now holds 15,550,000 ordinary shares in the Company,
which represents approximately 7% of the issued share capital of
the Company.
** ENDS **
For further information please visit www.empyreanenergy.com or
contact the following:
Empyrean Energy plc
Tom Kelly Tel: +61 8 9481 0389
Cenkos Securities plc
Neil McDonald Tel: +44 (0) 131 220
9771
Nick Tulloch Tel: +44 (0) 131 220
9772
St Brides Partners Ltd
Elisabeth Tel: +44 (0) 20 7236
Cowell 1177
Lottie Brocklehurst Tel: +44 (0) 20 7236
1177
Notes to Editors:
Empyrean Energy Plc is an AIM listed (Ticker: EME) profitable US
on-shore oil, gas and condensate exploration, development and
production company with assets in Texas and California. The
Company's portfolio represents a mix of assets at various stages of
development. Its flagship project is the Sugarloaf AMI in the
prolific Eagle Ford Shale, Texas, where it has a 3% working
interest in approximately 24,000 gross acres centrally positioned
in the liquids rich sweet-spot within the field. Empyrean has an
interest in 218 gross producing wells with full development
expected to reach over 770 wells. Further development of the Eagle
Ford Shale anticipated to require in the order of a further 300
wells, with down spacing potential of a further 200 wells. Further
development of the Austin Chalk anticipated to require in the order
of a further 300 wells, with down spacing potential of a further
235 wells. The Company has a term debt facility of up to US$50
million with Macquarie Bank, subject to reserve hurdles and
drawdown approvals, in place in order to develop this acreage which
is operated by US major Marathon Oil Company.
Other assets include a 58.084% interest in the Eagle Oil Pool
Development Project located in the San Joaquin Basin, southern
California, a proven oil and gas province. Empyrean's large working
interest in this project provides the Company with flexibility and
leverage with potential high impact from success. Additionally,
Empyrean has a 7.5% interest in the Sugarloaf Block A operated by
ConocoPhillips in the Eagle Ford Shale, and a 10% working interest
in the Riverbend Project in Texas.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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