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Pin to quick picksEmpyrean Regulatory News (EME)

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Duyung PSC Update, Indonesia

22 May 2020 07:00

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

Pete Lynch

 

Tel: +44 (0) 131 220 9771

Tel: +44 (0) 131 220 9772

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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