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An update from Empyrean Energy ( (GB:EME) ) is now available.
Empyrean Energy PLC has announced a significant Gas Sales Agreement (GSA) between Conrad Asia Energy Ltd, the operator of the Mako Gas Field, and PT PLN Energi Primer Indonesia (PLN EPI). This agreement, effective until January 2037, involves the sale of all natural gas produced from the Mako Gas Field to PLN EPI, a subsidiary of the Indonesian state-owned electric utility company. The contract, which covers a total of 392 TBtu, links gas prices to the Indonesian Crude Price, reflecting the growing domestic demand for gas in Indonesia. The agreement marks a strategic milestone for Empyrean and its partners, as it secures a stable market for the Mako Gas Field’s production and strengthens their position in the Asian energy market.
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 is involved in the exploration and production of natural gas and oil, focusing on fields like the Mako Gas Field in Indonesia.
Average Trading Volume: 136,709,488
Technical Sentiment Signal: Sell
Current Market Cap: £893.9K
For detailed information about EME stock, go to TipRanks’ Stock Analysis page.