Last checked at 9 Sep 2014 13:30
Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas
9 September 2014
Empyrean Energy plc
Posting of Annual Report and Notice of Annual General Meeting
The Company announces that its Annual Report and Accounts for the year ended 31 March 2014 is today being posted to shareholders, together with a Notice of the Annual General Meeting, and is now available to download from the Company's website at www.empyreanenergy.com.
The Company's forthcoming Annual General Meeting will be held at 9.30 a.m. on 30 September 2014 at the Royal Institution of Great Britain, 21 Albemarle Street, London W1S 4BS.
**ENDS**
For further information please visit www.empyreanenergy.com or contact the following:
Tom Kelly | Empyrean Energy plc | Tel: +618 9481 0389 |
Neil McDonald | Cenkos Securities Plc | Tel: +44 (0) 131 220 9771 / +44 (0) 207 397 1953 |
Nick Tulloch | Cenkos Securities Plc | Tel: +44 (0) 131 220 9772 / +44 (0) 207 397 1950 |
Hugo De Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Elisabeth Cowell | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Lottie Brocklehurst | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Notes to Editors:
Empyrean Energy Plc is an AIM listed (Ticker: EME) profitable US on-shore oil and gas development and production company focussed primarily on the advancement of its assets in Texas and California. The Company's portfolio represents a mix of assets at various stages of development. Its flagship project is the Sugarloaf AMI in the prolific Eagle Ford Shale, Texas, where it has a 3% working interest in approximately 24,000 gross acres centrally positioned in the liquids rich sweet-spot within the field. Empyrean has an interest in 143 gross producing wells with full development expected to reach over 770. Further development of the Eagle Ford Shale anticipated to require in the order of a further 330 wells, with down spacing potential of approximately 200 further wells. Further development of the Austin Chalk anticipated to require in the order of a further 300 wells, with down spacing potential of approximately 235 further wells.
Other assets include a 57.2% interest in the Eagle Oil Pool Development Project located in the San Joaquin Basin, southern California, a proven oil and gas province. Empyrean's large working interest in this project provides the Company with flexibility and leverage with potential high impact from success. Additionally, Empyrean has a 7.5% interest in the Sugarloaf Block A operated by ConocoPhillips in the Eagle Ford Shale, and a 10% working interest in the Riverbend Project in Texas currently producing from the Wilcox formation.