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The latest update is out from Empyrean Energy ( (GB:EME) ).
Empyrean Energy plc has raised £1,000,000 through a placement of new ordinary shares to support its ongoing development costs for its 8.5% interest in the Mako Gas Field and for general working capital. The recent signing of a Gas Sales Agreement with PLN Persero, an Indonesian government-owned utility, marks a significant milestone for the Mako Gas Field, aligning with Indonesia’s growing energy demand and the transition from coal to natural gas.
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 is an oil and gas development company with interests in Australia, Indonesia, and the United States. The company focuses on developing its stake in the Mako Gas Field located in the Riau Islands Province, Indonesian waters.
Average Trading Volume: 278,841,553
Technical Sentiment Signal: Sell
Current Market Cap: £4.83M
See more data about EME stock on TipRanks’ Stock Analysis page.