Borba Drilling Program

RNS Number : 4564D

Empyrean Energy PLC

28 October 2020

 

28 October 2020

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

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

Borba Drilling Program

Empyrean Energy plc (EME: AIM) ("Empyrean"), the oil and gas development company with interests in China, Indonesia and the United States, advises that, with regard to the announcement made by Sacgasco Limited (ASX:SGC) ("Sacgasco") on the Australian Securities Exchange today, it has notified Sacgasco that Empyrean will not be participating in the proposed drilling of the Borba prospect in the Sacramento Basin, onshore California, under the current timeframes and terms currently proposed by Sacgasco.

Tom Kelly, Empyrean CEO commented "Whilst Empyrean views drilling the Borba prospect as being the logical next phase of exploration in the suite of JV projects in Sacramento, it has decided for the time being to focus its resources on its South East Asian assets."

**ENDS**

For further information:

Empyrean Energy plc
Tom Kelly	Tel: [phone]
Cenkos Securities plc (Nominated Advisor and Broker)
Neil McDonald	Tel: [phone]
Pete Lynch	Tel: [phone]
First Equity Limited (Joint Broker)
Jason Robertson	Tel: [phone]

 

END

 

 

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