Notice of AGM

RNS Number : 9720X

Empyrean Energy PLC

03 September 2015

 

Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas

3 September 2015

Empyrean Energy PLC ('Empyrean' or 'the Company')

Notice of Annual General Meeting

Empyrean, the profitable US onshore oil, gas and condensate exploration, development and production company with assets in Texas and California, announces that an Annual General Meeting ('AGM') will be held at The Royal Institution of Great Britain, 21 Albemarle Street, London W1S 4BS at 3.30 p.m. on 25 September 2015.  The Notice of AGM, which is being posted to shareholders today, can also be found on the Company's website at www.empyreanenergy.com. 

The Company anticipates that its Annual Report for the year ended 31 March 2015 will be published and posted to shareholders ahead of the AGM and, in any event, no later than 30 September 2015.

**ENDS**

For further information please visit www.empyreanenergy.com or contact the following:

Tom Kelly	Empyrean Energy plc	Tel: [phone]
Neil McDonald	Cenkos Securities Plc	Tel: [phone]
Nick Tulloch	Cenkos Securities Plc	Tel: [phone]
Hugo De Salis	St Brides Partners Ltd	Tel: [phone]
Elisabeth Cowell	St Brides Partners Ltd	Tel: [phone]
Lottie Brocklehurst	St Brides Partners Ltd	Tel: [phone]

Notes to Editors:

Empyrean Energy Plc is an AIM listed (Ticker: EME) profitable US on-shore oil, gas and condensate exploration, development and production company with assets in Texas and California.  The Company's portfolio represents a mix of assets at various stages of development.  Its flagship project is the Sugarloaf AMI in the prolific Eagle Ford Shale, Texas, where it has a 3% working interest in approximately 24,000 gross acres centrally positioned in the liquids rich sweet-spot within the field.  Empyrean has an interest in 241 gross producing wells with full development expected to reach over 770 wells. Further development of the Eagle Ford Shale anticipated to require in the order of a further 300 wells, with down spacing potential of a further 200 wells.  Further development of the Austin Chalk anticipated to require in the order of a further 300 wells, with down spacing potential of a further 235 wells. The Company has a term debt facility of up to US$50 million with Macquarie Bank, subject to reserve hurdles and drawdown approvals, in place in order to develop this acreage which is operated by US major Marathon Oil Company.

Other assets include a 58.084% interest in the Eagle Oil Pool Development Project located in the San Joaquin Basin, southern California, a proven oil and gas province.  Empyrean's large working interest in this project provides the Company with flexibility and leverage with potential high impact from success.  Additionally, Empyrean has a 7.5% interest in the Sugarloaf Block A operated by ConocoPhillips in the Eagle Ford Shale, and a 10% working interest in the Riverbend Project in Texas.

 

END

 

 

NOAPKNDDCBKKNCK