Trading Statement

RNS Number : 4829U

Empyrean Energy PLC

22 December 2011

 

22 December 2011

Empyrean Energy PLC

("Empyrean" or the "Company"; Ticker (EME))

Trading statement

Gross cash received from USA production exceeds prior 6 months

Empyrean is pleased to provide the following update on cash receipts from oil and gas production and sales operations for the last six months:

Cash received from the Company's USA based production assets including the Sugarloaf Project, Hercules Project and Riverbend Project over the last six months (June 2011 through to November 2011) totals US$1,676,388.10 which represents a 55 per cent. increase in revenue over the prior six months cash received update that was released on 3 June 2011.

Generally speaking, the cash received from hydrocarbon sales in any given month relates to production accumulated from approximately two months earlier. That is, there is a lag between production sales and cash received and this varies between projects and also varies according to whether the sales were from oil or from gas.

The Sugarloaf Project is now firmly into a development phase and this upwards trend in revenue is expected to continue as further wells are brought into production.

Contact:

Empyrean Energy Plc

Tom Kelly                                                                    Tel: [phone]

Shore Capital & Corporate Limited

Anita Ghanekar                                                            Tel: [phone]

Edward Mansfield

 

END

 

 

TSTGRBDDUDDBGBD