EME Empyrean Energy Plc

TIDMEME

RNS Number : 6868N

Empyrean Energy PLC

22 May 2020

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            Tel: +44 (0) 131 220 9771 
  Pete Lynch               Tel: +44 (0) 131 220 9772 
 

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END

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May 22, 2020 02:00 ET (06:00 GMT)

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