23rd Dec 2021 16:22
Empyrean Energy PLC - Australian oil & gas explorer and producer - Pretax loss in six months to September 30 broadly flat at USD452,000 versus USD447,000 year before. Total administrative expenses slips to USD428,000 from USD441,000. Does not generate revenue in either period.
"Empyrean's focus during the half year period to September 30, 2021 has predominantly been on preparing for and funding the drilling of the Jade prospect at our 100% owned Block 29/11, offshore China," company says.
Adding: "At the time of writing, it is most pleasing to advise that drill preparation activities have progressed well throughout the latter part of the year, culminating in the signing of an integrated drilling contract in November, at a significantly reduced cost to initial estimates. With the drill rig confirmed, the well will spud following the completion of the well site survey and final permits are in hand. Needless to say this is a very exciting time for the company."
Current stock price: 6.18 pence
Year-to-date change: up 21%
By Paul McGowan; [email protected]
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