Empyrean Energy (EME) AI Stock Analysis

• Market Cap: £5.11M
• Dividend Yield: N/A
• Average Volume (3M): 88.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.47
• Revenue Growth: N/A
• EPS Growth: 89.39%
• Country: UK
• Employees: 4
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.00
• Shares Outstanding: 5,719,672,400
• 10 Day Avg. Volume: 46,498,507
• 30 Day Avg. Volume: 88,122,149
• PEG Ratio: <0.01
• Price to Book (P/B): -0.64
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.25
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: 0.09p ▲(117.50% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, negative operating/free cash flow, and negative equity with rising debt). Technicals are supportive with strong momentum, but the very high RSI signals an overstretched move. Valuation remains unattractive/unclear due to negative earnings and no stated dividend yield.

Positive Factors

Focused upstream asset base

A concentrated portfolio focused on the Pearl River Mouth Basin gives Empyrean a clear development target and simplifies technical and commercial planning. This focus supports durable partner engagement, regulatory permitting paths, and a coherent route to monetisation if exploration is successful.

Business model supports farm-outs and carried funding

Reliance on farm-outs and partner funding is a structural strength for small E&P explorers: it reduces direct capital requirements, shifts drilling risk to partners, and enables progress on acreage without large upfront cash spend, improving survivability through exploration cycles.

Trend of narrowing losses and smaller cash burn

Material narrowing of operating and net losses, coupled with sharply improved free cash flow versus FY2023, indicates management is reducing burn and moving toward financial stability. If sustained, this trend lowers refinancing pressure and improves optionality for farm-outs or development funding.

Negative Factors

No reported operating revenue

Having no operating revenue leaves the company dependent on asset transactions or external funding to cover costs. This structural absence of recurring cashflows increases execution risk for appraisal/development and magnifies sensitivity to partner interest or financing availability over the medium term.

Negative equity and rising debt

Negative equity and increasing borrowings materially weaken balance-sheet flexibility, constraining access to traditional financing and increasing reliance on dilutive equity or costly debt. This structural capital weakness raises solvency and refinancing risk during multi-year exploration cycles.

Persistent negative operating cash flow

Sustained operating cash outflows mean the company must repeatedly access external capital or complete farm-outs to fund programs. Over 2–6 months this structural cash deficit constrains strategic flexibility, can delay drilling or appraisal, and increases the risk of project underfunding.

Empyrean Energy Business Overview & Revenue Model

Company Description

Empyrean Energy Plc engages in the exploration, development, and production of energy resource projects. It has a 100% working interest in the Block 29/11 project located in the Pearl River Mouth Basin, offshore China; and 10% working interest in the Duyung production sharing contract that covers an area of approximately 1,100km2 in the West Natuna Basin, Indonesia. The company also has a 10% working interest in the Riverbend project located in the Jasper County, Texas; and 58.084% working interest in the Eagle Oil Pool Development project located in the San Joaquin Basin, southern California. Empyrean Energy Plc was incorporated in 2005 and is based in Subiaco, Australia.

How the Company Makes Money

Empyrean Energy generates revenue primarily through the exploration, development, and production of oil and gas reserves. The company identifies promising energy assets, often in collaboration with strategic partners, and invests in the necessary infrastructure to extract and sell these resources. Revenue is earned from the sale of crude oil, natural gas, and related hydrocarbons to energy markets and industrial buyers. Additionally, Empyrean Energy may engage in joint ventures or farm-out agreements, where they partner with other energy companies to share the costs and revenues of exploration and production activities. Key factors contributing to its earnings include fluctuations in global oil prices, the success of exploration activities, and the efficient management of production operations.

Empyrean Energy Financial Statement Overview

Summary

Income statement, balance sheet, and cash flow data indicate a high-risk profile: no revenue, continued losses (though narrowing in FY2025), consistently negative operating/free cash flow, and a deteriorated capital structure with negative equity and rising debt.

Income Statement

The company reports no revenue across the period provided, and profitability remains weak with consistent losses. Losses narrowed meaningfully in FY2025 versus FY2024 (net loss improved from about -9.6M to about -3.4M; EBIT loss improved from about -7.8M to about -0.9M), but the business is still not operating at a profit and there is no demonstrated top-line traction.

Balance Sheet

Financial risk increased as the capital structure deteriorated: stockholders’ equity is negative in FY2024 and FY2025, alongside rising debt (about 7.6M to 8.9M). Total assets are below total debt in FY2025, and negative equity limits balance-sheet flexibility and can constrain access to financing; the key positive is that the company previously had positive equity (FY2021–FY2023), indicating the current position reflects a significant drawdown rather than a long-standing deficit.

Cash Flow

Cash generation remains challenged, with negative operating cash flow in FY2021–FY2025 and negative free cash flow every year shown. The magnitude of cash burn improved sharply in FY2024–FY2025 versus FY2023 (free cash flow improved from about -15.3M in FY2023 to about -1.8M in FY2024 and -2.4M in FY2025), but ongoing operating cash outflows suggest continued dependence on external funding.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-999.63K	0.00	0.00	-810.00K	-1.62M	-943.00K
Net Income	-2.00M	-3.35M	-9.59M	-20.80M	-8.11M	-963.00K
Balance Sheet
Total Assets	8.85M	7.49M	6.35M	24.96M	15.19M	14.57M
Cash, Cash Equivalents and Short-Term Investments	3.06M	1.68M	981.00K	83.00K	19.00K	189.00K
Total Debt	9.84M	8.94M	7.59M	4.13M	4.13M	0.00
Total Liabilities	12.87M	12.06M	10.71M	6.29M	778.00K	1.25M
Stockholders Equity	-4.00M	-4.57M	-4.36M	2.30M	18.68M	14.41M
Cash Flow
Free Cash Flow	-2.00K	-2.35M	-1.79M	-15.27M	-1.99M	-778.00K
Operating Cash Flow	-632.00	-937.00K	-827.00K	-882.00K	-831.00K	-221.00K
Investing Cash Flow	-1.37K	-1.42M	-964.00K	-16.37M	-16.37M	-1.23M
Financing Cash Flow	1.99M	3.02M	2.69M	2.42M	17.11M	1.93M

Empyrean Energy Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EME, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 89.37 is Negative, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:EME.

Empyrean Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
CLON	48 Neutral	£2.05M	-2.50	-96.49%	―	―	―
EME	46 Neutral	£5.11M	-1.27	―	―	―	89.39%
PET	46 Neutral	£1.66M	-3.08	―	―	―	―
WCAT	45 Neutral	£2.25M	-7.50	-173.17%	―	―	―
DELT	41 Neutral	£2.65M	-0.89	-215.74%	―	―	―

Empyrean Energy Corporate Events

Empyrean Resolves Duyung PSC Dispute and Retains Mako Gas Exposure via New SPV Deal

Empyrean Energy has signed a binding term sheet with operator Conrad Asia Energy to resolve a long-running cash call dispute over the Duyung PSC and Mako Gas Field in Indonesia, with Conrad withdrawing its forced withdrawal notice and both parties agreeing to a cooperative, SPV-based structure. Under the deal, Empyrean will transfer its 8.5% participating interest in the Duyung PSC to Conrad’s subsidiary WNEL, then hold an 8.5% stake in a new Singapore special purpose vehicle owning WNEL, giving it ongoing economic exposure to Mako and farm-out proceeds while eliminating future direct cash call obligations, supported by project finance through development and a targeted first gas date in the fourth quarter of 2027.

The most recent analyst rating on (GB:EME) stock is a Sell with a £0.03 price target. To see the full list of analyst forecasts on Empyrean Energy stock, see the GB:EME Stock Forecast page.

Empyrean Energy Reports Interim Results Amid Strategic Developments

Empyrean Energy PLC reported its interim results for the six months ending September 30, 2025, highlighting significant developments in its Duyung PSC Project in Indonesia. The company faced challenges due to a dispute with Conrad Asia Energy Ltd over cash calls, but constructive discussions are ongoing. A new Gas Sale Agreement (GSA) was signed with PT PLN Energi Primer Indonesia, following a directive from the Indonesian Ministry of Energy and Mineral Resources, which could enhance domestic gas availability and support future farmout arrangements. Additionally, Empyrean raised funds through placings and retail offers to support its operations, despite the setback at the Wilson River Project in Australia.

Empyrean Energy Announces Mako Gas Field Development Agreement Amidst Dispute

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.

Empyrean Energy Faces Dispute Over Duyung PSC Interests

Empyrean Energy PLC has received a Notice of Election of Remedy and Forced Withdrawal from West Natuna Exploration Limited, a subsidiary of Conrad Asia Energy Ltd, concerning the Duyung PSC. Despite ongoing dispute-resolution discussions and a verbal agreement on disputed cash calls, the notice suggests Empyrean’s withdrawal from the joint venture, which the company contests. Empyrean is committed to resolving the dispute cooperatively and legally, while Conrad’s trading halt on the ASX adds complexity to the situation.

Empyrean Energy Announces Significant Shareholding Update

Empyrean Energy PLC announced that Nortrust Nominees Limited now holds 73,000,000 ordinary shares, representing approximately 1.28% of the company’s issued share capital. This development could influence Empyrean’s market dynamics and shareholder structure, potentially impacting its strategic decisions and stakeholder interests.

Empyrean Energy Awaits Update on Duyung PSC Farm Down

Empyrean Energy PLC announced that Conrad Asia Energy Ltd, the operator of the Mako Gas Field, has halted trading of its securities on the Australian Securities Exchange pending an announcement regarding the farm down of its 75% interest in the Duyung PSC. Empyrean, holding an 8.5% interest in the project, is currently unable to make a statement but plans to update the AIM market soon.