Empyrean Energy PLC Plan of Development Approval for Mako Gas Field (3822S)
2019年3月11日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMEME
RNS Number : 3822S
Empyrean Energy PLC
11 March 2019
This announcement contains inside information
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil &
Gas
Empyrean Energy PLC ("Empyrean" or the "Company")
Plan of Development Approval for Mako Gas Field, Duyung PSC,
Indonesia
11 March 2019
Empyrean, the oil and gas development company with interests in
China, Indonesia and the United States, is pleased to announce that
the Ministry of Energy and Minerals in Indonesia has approved the
Plan of Development ("POD") for the Mako Gas Field at the Duyung
PSC in Indonesia.
Tom Kelly, CEO of Empyrean, commented:
"The POD approval by the Ministry of Energy and Mineral
Resources in Indonesia is another important milestone in
progressing the Mako Gas Field towards production. Tenure has now
been secured on the Duyung PSC out to 2037 which reduces risk and
adds intrinsic value to the project. Importantly, the POD approval
is also crucial to advancing negotiations of the heads of agreement
into a gas sales agreement with the buyer in Singapore for the
off-take of Mako gas. It also paves the way for appraisal later in
the year that can increase resources at Mako and hopefully test the
deeper Tambak prospect."
The Duyung PSC covers approximately 890 km(2) in the Riau
Islands Province, situated in the offshore Indonesian waters of the
South China Sea, and is proximal to the West Natuna Transportation
System (WNTS), a gas pipeline to markets in Singapore. WNTS
currently supplies approximately 0.4 billion cubic feet (Bcf) of
natural gas per day to Singapore. In June 2017, Empyrean
participated in the successful Mako South-1 exploration well. A
recent resource audit by Gaffney Cline & Associates (RNS dated
21 Jan 2019) reported contingent 2C resources of 276 Bcf in the
Mako Gas Field.
**ENDS**
For further information:
Empyrean Energy plc
Tom Kelly Tel: +61 8 9380 9920
Cenkos Securities plc
Neil McDonald Tel: +44 (0) 131 220 9771
Beth McKiernan Tel: +44 (0) 131 220 9778
Pete Lynch Tel: +44 (0) 131 220 9772
St Brides Partners Ltd
Priit Piip Tel: +44 (0) 20 7236 1177
Frank Buhagiar Tel: +44 (0) 20 7236 1177
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END
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