Empyrean Regulatory News (EME)

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, HONG KONG OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, HONG KONG OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE NEW SHARES IS BEING MADE IN ANY SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS. PLEASE SEE THE IMPORTANT INFORMATION IN THE APPENDIX TO THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED)). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

28 April 2025

Empyrean Energy Plc

("Empyrean" or the "Company")

Fundraising

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in Australia, Indonesia and the United States, advises that it has raised £600,000 (before costs) through a placing of 666,666,667 new ordinary shares of 0.01p each in the Company (the "Placing Shares") at a price of 0.09p per Placing Share (the "Issue Price") (the "Placing").

CMC Markets Plc, trading as CMC CapX, is the Company's placing agent in respect of the Placing.

A retail offer on the same terms as the Placing (the "Retail Offer" and, together with the Placing, the "Fundraising") will commence immediately following this Announcement and applications for this offer are expected to close in 3 days. Details of the Retail Offer will be announced seperately.

Funds raised pursuant to the Fundraising will be used to test the potential oil zone in the Wilson River-1 well and for general working capital.

The Placing is conditional on the Placing Shares being admitted to trading on the AIM market operated by London Stock Exchange plc ("Admission"). Admission is expected to take place on 2 May 2024.

Following Admission, the Company will have 4,401,759,108 New Ordinary Shares in issue. This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Empyrean CEO, Tom Kelly,commented:

"Empyrean is excited and looking forward to the near term testing of a potential oil zone in the Wilson River-1 well."

Further details of the Fundraising are set out below.

For further information please visit www.empyreanenergy.com or contact the following:

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

Notes:

(i) References to times in this document are to London time (unless otherwise stated).

(ii) If any of the above times or dates should change, the revised times and/or dates will be notified by an announcement to an RIS.

(iii) The timing of the events in the above timetable and in the rest of this document is indicative only.