REG - Empyrean Energy PLC - Wilson River-1 Farm in Agreement signed

Empyrean EnergyAnnouncement

07/03/2025 07:15

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RNS Number : 8007Z  Empyrean Energy PLC  07 March 2025

 

7 March 2025

This announcement contains inside information

 

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

 

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

Wilson River-1 definitive Farm in Agreement signed and drill preparations
update

 

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development
company with interests in Australia, Indonesia and the United States, advises
that further to the RNS dated 23 January and 11 February 2025, a definitive
Farm in Agreement has now been executed between the Company, Chi Oil and Gas
Pty Ltd and Condor Energy Services Ltd (together, the "JV" or "JV Partners").

 

The Farm in Agreement formalises Empyrean's earn in to ATP1173 by funding part
of the drilling of the Wilson River-1 well. Following the earn in, the
respective JV Partners working interests will be Empyrean 52.8%,  Condor
Energy Services Ltd  27.2% and Chi Oil and Gas Ltd 20.0%.

 

Condor Energy Services Ltd has been retained to drill and test the well.

 

The site preparations are now well advanced with the drilling pad cleared,
cellar and conductor installed and the first truckloads of drill rig equipment
loaded and mobilised on way to the drill site.

 

The JV is currently on schedule for spudding of the well during March 2025. A
further announcement will be made as preparations progress and a more precise
spud date becomes known.

 

Empyrean CEO, Tom Kelly commented, "The JV Partners are working cohesively to
execute the required agreements and contemporaneously complete the necessary
preparations to drill the Wilson River-1 well. Empyrean is delighted to be
working alongside Condor Energy Services and Chi Oil and Gas to bring together
the drilling of Wilson River-1. We look forward to providing further updates
as we get closer to drill."

 

For further information please visit www.empyreanenergy.com
(http://www.empyreanenergy.com/)  or contact the following:

 

 Empyrean Energy plc                                               Tel: +61 (8) 6146 5325
 Tom Kelly

 Cavendish Capital Markets Limited (Nominated Advisor and Broker)  Tel: +44 (0) 207 220 0500
 Neil McDonald

 Pearl Kellie

 Novum Securities Limited (Joint Broker)                           Tel: +44 (0) 207 399 9400
 Colin Rowbury

 

 

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