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EARNINGS AND TRADING: Empyrean Energy hopeful of Indonesian progress

1st Sep 2025 16:00

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Pulsar Helium Inc - helium project developer - Net loss narrows to USD8.5 million in the nine months to June 30 from USD21.4 million the year prior. Revenue is nil, unchanged year-on-year, while administration expenses edge up to USD9.2 million from USD9.1 million. Bottom line benefits from USD1.1 million revaluation gain of a non-cash warrant liability compared to USD12.4 million charge a year prior. Cash as at June 30 is USD617,626 compared to USD1.2 million a year ago.

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Empyrean Energy PLC - oil and gas development firm focused on the Duyung production sharing contract offshore Indonesia - Pretax loss from continuing operations narrows to USD3.3 million in the financial year to March from USD9.6 million a year prior. The firm reports no revenue, unchanged year-on-year. Finance expenses drop to USD1.2 million from USD1.8 million while impairments on exploration and evaluation assets fall to USD1.2 million from USD6.6 million. Calls it a "very frustrating year for Empyrean and its shareholders." Notes protracted waiting periods in Indonesia in relation to the Mako gas field discovery, although says recent developments have been more encouraging. Explains that after the presidential election, the Indonesian government has changed its energy policy objectives and has directed that all Mako gas be made available for the Indonesian domestic market. "This is a significant development in terms of ultimately commercialising the asset in a timely manner," Empyrean says. Remains "optimistic" of a positive conclusion to the sell down process from Indonesia, which "we hope will provide the impetus to rebuild value for its shareholders." In addition, notes Managing Director & Chair Tom Kelly passed away after a tragic accident in August. Technical Director Gaz Bisht was appointed interim chief executive while the search for a permanent CEO is undertaken.

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Astrid Intelligence PLC - formerly known as Cel AI PLC, London-based company specialising in artificial intelligence - Says delisting of the company from the London Stock Exchange's Main Market and the Financial Conduct Authority's Official List is now expected to take place on Wednesday. Shares are admitted to trading to the Access Segment of the Growth Market of the Aquis Stock Exchange as of Monday. As a result, requests that trading is suspended until the delisting has completed.

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Eco Atlantic Oil and Gas Ltd - oil and gas exploration in South Africa, Namibia and Guyana - Pretax net loss widens to USD1.6 million in the three months to June 30 from USD1.1 million the year prior. Income increases to USD15,980 from USD3,211 and operating expenses grow to USD1.6 million from USD1.1 million. Cash improves to USD3.6 million at June 30 from USD1.2 million a year ago. "Eco has continued to make progress across its portfolio and operations," company says. "The Orange Basin remains one of the most exciting offshore postcodes in the world with Eco's acreage strategically located at its heart. In Namibia, we continue to progress the license work programs and farm out discussions. In Guyana, we have continued to hold positive discussions with a number of prospective partners where we are working hard to realise the potential of the Orinduik block," Eco adds. "As we look forward to the rest of 2025, Eco is in a strong position with a number of potential catalysts to create real value," the company says.

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Home REIT PLC - London-based investor in the UK's social housing sector - Says monthly gross rent received averages GBP1.1 million so far in 2025, including rent collected and allocated of GBP1.3 million in July. Notes the company's cash together with rental income is expected to be sufficient to fund operational expenses and fees during the managed wind-down and for the next twelve months. Says the managed wind down strategy continues to progress, with detailed due diligence on the property portfolio continuing. Anticipates that the portfolio sale process will conclude in the fourth quarter of 2025. Home REIT intends that capital will be returned to shareholders upon the completion of the realisation strategy.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to [email protected]

Copyright 2025 Alliance News Ltd. All Rights Reserved.


Related Shares:

EmpyreanPulsar HeliumEco (atlantic)Home Reit
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