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Borba Drilling Program

28th Oct 2020 07:14

RNS Number : 4564D
Empyrean Energy PLC
28 October 2020
 

 

28 October 2020

 

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

  

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

 

Borba Drilling Program

 

Empyrean Energy plc (EME: AIM) ("Empyrean"), the oil and gas development company with interests in China, Indonesia and the United States, advises that, with regard to the announcement made by Sacgasco Limited (ASX:SGC) ("Sacgasco") on the Australian Securities Exchange today, it has notified Sacgasco that Empyrean will not be participating in the proposed drilling of the Borba prospect in the Sacramento Basin, onshore California, under the current timeframes and terms currently proposed by Sacgasco.

 

Tom Kelly, Empyrean CEO commented "Whilst Empyrean views drilling the Borba prospect as being the logical next phase of exploration in the suite of JV projects in Sacramento, it has decided for the time being to focus its resources on its South East Asian assets."

**ENDS**

 

For further information:

 

Empyrean Energy plc

Tom Kelly

Tel: +61 6146 5325

Cenkos Securities plc (Nominated Advisor and Broker)

Neil McDonald

Tel: +44 (0) 131 220 9771

Pete Lynch

Tel: +44 (0) 131 220 9772

First Equity Limited (Joint Broker)

Jason Robertson

Tel: +44 (0) 20 7330 1883

 

 

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