Empyrean Energy (GB:EME) has released an update.
Empyrean Energy PLC has concluded its final results for the financial year, highlighting its collaboration with CNOOC on Block 29/11 in China, which ended following unmet drilling deadlines, and ongoing disputes over contractual obligations. The company also reported progress in the Duyung PSC in Indonesia, including a key gas sales agreement that paves the way for the Mako gas field’s development and the expected positive impact on future sell-down transactions. Corporate efforts included successful fundraising to support working capital and strategic exploration goals.
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