Last checked at 28 Oct 2020 07:14
28 October 2020
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas
Empyrean Energy PLC ("Empyrean" or the "Company")
Borba Drilling Program
Empyrean Energy plc (EME: AIM) ("Empyrean"), the oil and gas development company with interests in China, Indonesia and the United States, advises that, with regard to the announcement made by Sacgasco Limited (ASX:SGC) ("Sacgasco") on the Australian Securities Exchange today, it has notified Sacgasco that Empyrean will not be participating in the proposed drilling of the Borba prospect in the Sacramento Basin, onshore California, under the current timeframes and terms currently proposed by Sacgasco.
Tom Kelly, Empyrean CEO commented "Whilst Empyrean views drilling the Borba prospect as being the logical next phase of exploration in the suite of JV projects in Sacramento, it has decided for the time being to focus its resources on its South East Asian assets."
**ENDS**
For further information:
Empyrean Energy plc | |
Tom Kelly | Tel: +61 6146 5325 |
Cenkos Securities plc (Nominated Advisor and Broker) | |
Neil McDonald | Tel: +44 (0) 131 220 9771 |
Pete Lynch | Tel: +44 (0) 131 220 9772 |
First Equity Limited (Joint Broker) | |
Jason Robertson | Tel: +44 (0) 20 7330 1883 |