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Empyrean Energy ( (GB:EME) ) just unveiled an announcement.
Empyrean Energy PLC announced that Conrad Asia Energy Ltd and its subsidiary West Natuna Exploration Limited have entered into an agreement with PT Nations Natuna Barat to develop the Mako gas field in the Duyung PSC. Nations will acquire a 75% participating interest in the project and will finance the entire development costs, with Conrad retaining a 25% interest. The transaction is expected to be completed by Q3 2026, with first gas production targeted for late 2027. Empyrean is currently in a dispute with Conrad over a Notice of Forced Withdrawal, which Empyrean contests, emphasizing its commitment to resolving the issue amicably.
Spark’s Take on GB:EME Stock
According to Spark, TipRanks’ AI Analyst, GB:EME is a Underperform.
Empyrean Energy’s stock is significantly impacted by severe financial difficulties, with ongoing losses and negative equity. The technical analysis indicates a bearish trend, and valuation metrics highlight high risk with negative earnings. Despite recent corporate efforts to boost capital and strategic initiatives, these do not compensate for the substantial financial and operational challenges, resulting in a low overall stock score.
To see Spark’s full report on GB:EME stock, click here.
More about Empyrean Energy
Empyrean Energy PLC operates in the oil and gas sector, focusing on exploration and development projects. The company is involved in various energy projects, including the Duyung Production Sharing Contract, which features the Mako gas field.
Average Trading Volume: 217,423,689
Technical Sentiment Signal: Sell
Current Market Cap: £8.01M
See more data about EME stock on TipRanks’ Stock Analysis page.