Cyber Fraud Update

Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas

24 January 2022

Empyrean Energy PLC ("Empyrean" or the "Company")

Cyber Fraud Update

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in China, Indonesia and the United States, provides the following update to the Cyber Fraud outlined in the announcement of 16 December 2021.

Empyrean has commenced legal proceedings in the Singapore courts against the company believed to have committed the cyber fraud ("fraudster"), and has obtained an injunction order on 21 January 2022 against the fraudster to freeze its assets and obtain further banking information.

Empyrean will take the necessary steps and is taking legal advice for the purpose of pursuing recovery of the funds involved in the fraud.

Empyrean will continue to cooperate with the Singapore Police investigation into the fraud. Empyrean has taken the steps above, upon legal advice, in order to escalate the recovery process.

Empyrean will provide further updates as appropriate moving forward.

**ENDS**

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