Empyrean Energy PLC Result of General Meeting (1959U)
July 27 2015 - 8:45AM
UK Regulatory
TIDMEME
RNS Number : 1959U
Empyrean Energy PLC
27 July 2015
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil &
Gas
27 July 2015
Empyrean Energy PLC ('Empyrean' or 'the Company')
Result of General Meeting
Empyrean Energy, the profitable US onshore oil, gas and
condensate exploration, development and production company with
assets in Texas and California, held its General Meeting today and
all resolutions were duly passed.
**ENDS**
For further information please visit www.empyreanenergy.com or
contact the following:
Tom Kelly Empyrean Energy Tel: +618 9481 0389
plc
Neil McDonald Cenkos Securities Tel: +44 (0) 131 220 9771
Plc / +44 (0) 207 397 1953
Nick Tulloch Cenkos Securities Tel: +44 (0) 131 220 9772
Plc
Hugo De Salis St Brides Partners Tel: +44 (0) 20 7236 1177
Ltd
Elisabeth St Brides Partners Tel: +44 (0) 20 7236 1177
Cowell Ltd
Lottie Brocklehurst St Brides Partners Tel: +44 (0) 20 7236 1177
Ltd
Notes to Editors:
Empyrean Energy Plc is an AIM listed (Ticker: EME) profitable US
on-shore oil and gas development and production company focused
primarily on the advancement of its 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 (approximately 720 net
acres) centrally positioned in the liquids rich sweet-spot within
the field. Empyrean has an interest in over 231 gross producing
wells with full development having the potential to reach over
1,000 wells and with further upside potential from additional
formations and closer well spacing. The Company has a term debt
facility of up to US$50 million with Macquarie Bank in place in
order to develop this acreage which is operated by US major
Marathon Oil Company.
Other assets include a 58% 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 currently producing from the
Wilcox formation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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