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Empyrean Energy ( (GB:EME) ) has provided an update.
Empyrean Energy PLC announced that Conrad Asia Energy, the operator of the Mako Gas Field in Indonesia, has received a directive from the Indonesian Ministry of Energy and Mineral Resources to allocate all Mako gas for the Indonesian domestic market. This decision aligns with Indonesia’s New Energy Plan, which prioritizes gas exploration and production to meet rising domestic energy demand. The directive is expected to support potential farmout arrangements and financial investment decisions for the Mako Gas Field, enhancing its commercial viability and strategic importance in the region.
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 oil and gas resources, with a focus on the Mako Gas Field in Indonesia.
YTD Price Performance: 58.75%
Average Trading Volume: 120,903,474
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £4.76M
For an in-depth examination of EME stock, go to TipRanks’ Stock Analysis page.