Empyrean Energy PLC Duyung PSC Update (4587C)
2020年2月10日 - 4:44PM
RNSを含む英国規制内ニュース (英語)
TIDMEME
RNS Number : 4587C
Empyrean Energy PLC
10 February 2020
This announcement contains inside information
Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil &
Gas
10 February 2020
Empyrean Energy PLC ("Empyrean" or the "Company")
Duyung PSC Update
Empyrean Energy Plc, the oil and gas development company with
interests in China, Indonesia and the United States, provides an
update in relation to the Duyung PSC in the West Natuna basin,
offshore Indonesia.
As previously announced, the transfer of title of the 15% Duyung
PSC interest to Coro Energy Plc ("Coro") from Conrad Petroleum and
Empyrean remains subject to customary Indonesian regulatory
approvals. These approvals are expected to follow but have not yet
been received. As a result, the Duyung PSC partners have now agreed
to a six-month extension to the long stop date under the Duyung PSC
acquisition agreement for receipt of the necessary Indonesian
approvals to 30 June 2020.
Should the regulatory approvals not be forthcoming for any
reason by 30 June 2020, Coro will instead be transferred 15% of the
shares of the Duyung PSC title holder and operating company, West
Natuna Exploration Limited, as envisaged under the Duyung PSC
acquisition agreement, of which Empyrean will transfer to Coro 1.5%
of its current 10% interest in the Duyung PSC. Following
completion, the owners of the Duyung PSC will be Conrad (76.5%),
Empyrean (8.5%) and Coro (15%).
In addition to the above, following the highly successful
appraisal drilling campaign on the Mako gas field in Q4 2019, which
saw the Tambak-1 and Tambak-2 wells demonstrate the presence of
well developed, high quality reservoir sandstones with a common gas
water contact across the Mako structure, the Company confirms that
Gaffney Cline and Associates ("GCA") has been commissioned by the
operator on behalf of the Duyung PSC partners to update its view of
the Mako field. The revised competent persons report will be
published using new data acquired from the Q4 2019 appraisal
drilling programme, including the drill stem test at Tambak-1,
which flowed at 11.4 MMscf/d. GCA previously ascribed 2C resources
of 276 Bcf and 3C resources of 396 Bcf to the Mako field and the
Duyung PSC partners eagerly await the publication of this new
independent resource assessment.
Empyrean are confident of a significant upgrade in the resource
size in the 2C category as a result of the drilling campaign and
the Company looks forward to updating shareholders on the results
of the updated GCA resource assessment in due course.
The Mako field is located close to the West Natuna pipeline
system and gas from the field can be marketed to buyers in both
Indonesia and in Singapore, where a heads of agreement with a gas
buyer is already in place. With a Plan of Development approved by
the Indonesian Authorities, the conclusion of a gas sales agreement
will mark the next step toward the final investment decision to
develop and commercialise the field.
The information contained in this announcement has been reviewed
by Empyrean's Executive Technical director, Gaz Bisht, who has over
30 years' experience as a hydrocarbon geologist and
geoscientist.
**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
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDGPUUCPUPUUMU
(END) Dow Jones Newswires
February 10, 2020 02:44 ET (07:44 GMT)
Empyrean Energy (LSE:EME)
過去 株価チャート
から 6 2024 まで 7 2024
Empyrean Energy (LSE:EME)
過去 株価チャート
から 7 2023 まで 7 2024