Exercise of Warrants

Empyrean Energy PLC
31 July 2007





                              Empyrean Energy PLC

                  ('Empyrean' or the 'Company'; Ticker: (EME))


                              Exercise of Warrants
                              --------------------

AIM quoted Empyrean Energy PLC today announces that it has issued and allotted
949,524 new ordinary shares of 0.02p each, at a price of 35 pence per share,
pursuant to an exercise of warrants.

Application will be made for these shares to be admitted to trading on AIM.

The shares will rank pari passu with the existing ordinary shares of 0.02p each
in the Company.

The total number of ordinary shares in issue following this exercise of warrants
is 50,546,291.


For further information:
Charlie Geller/ Ed Portman
Conduit PR
Tel: [phone]/
+44 (0) [phone]

Empyrean Energy plc
Tel: [phone]

Rod Venables/ Cecil Jordaan
HB Corporate
Tel: [phone]




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