RE: I'll not be selling my golden tickets cheaply - here's why?30 Jan 2026 10:34
Empyrean will be entitled to 8.5% of each instalment of the consideration to be made to WNEL by the Majority Farminee.
In addition, Empyrean will be entitled to receive 8.5% of any consideration arising from a future farm-out by WNEL to a majority farminee, preserving upside exposure to the project.
Management described the deal as transformational, resolving a key overhang while maintaining exposure to a significant gas development without further funding risk.