Change of Auditor

RNS Number : 1434T

Empyrean Energy PLC

15 November 2013

 



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

15 November 2013

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

Change of Auditor

Empyrean Energy, the profitable US onshore oil, gas and condensate exploration, development and production company with assets in Texas and California, is pleased to announce the appointment of BDO International Limited ('BDO') as its auditor with immediate effect.  BDO will conduct the Company interim review for the six months to 30 September 2013 and audit for the year ended 31 March 2014.

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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]
Ken Fleming	Cenkos Securities Plc	Tel: [phone]
Hugo De Salis	St Brides Media & Finance Ltd	Tel: [phone]
Elisabeth Cowell	St Brides Media & Finance Ltd	Tel: [phone]
Lottie Brocklehurst	St Brides Media & Finance Ltd	Tel: [phone]

Notes to Editors:

Empyrean Energy Plc is an AIM listed (Ticker: EME) profitable US on-shore oil and gas development and production company focussed primarily on the advancement of its 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 24,300 gross acres centrally positioned in the liquids rich sweet-spot within the field.  Empyrean has an interest in over 91 gross producing wells with full development expected to reach over 280 wells and further upside potential from additional formations and closer well spacing.  The Company has term debt facility of up to US$50 million with Macquarie Bank in place in order to develop this acreage which is operated by US major Marathon Oil Company.

Other assets include a 57.2% 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 currently producing from the Wilcox formation.

 

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