Wilson River-1 Drilling Update

25 March 2025

This announcement contains inside information

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

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

Wilson River-1 well reaches TD with approximately 6m potential gross oil zone interpreted on preliminary logs

Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in Australia, Indonesia and the United States, is pleased to provide an update on the Wilson River-1 well.

The Wilson River-1 well has reached total depth ("TD") of 1464m. Following reaching TD, open hole quad combo logs were acquired to measure multiple formation properties and reservoir characteristics. Based on preliminary log analysis and hydrocarbon shows, including approximately 6m of potential gross oil zone in one of the main target reservoirs, 7-inch production casing has been run into hole and cemented to a depth of 1459.6m. The well has been cased and suspended whilst expert petrophysical analysis is completed and the results are compared with existing producing wells nearby to better define a testing and completion regime.

The rig is on standby on location at no cost whilst the testing program is decided upon. The petrophysical analysis is expected to be concluded within one week and a further announcement will be made regarding this further analysis and the agreed testing program in due course.

Empyrean CEO, Tom Kelly, stated:

"Empyrean is pleased that the Wilson River-1 well has reached TD safely and we have a number of zones of interest upon which to carry out further analysis before testing. The main zone of interest appears to share a number of similarities on the preliminary log analysis to an existing producing well nearby. We look forward to completing the necessary work to define our testing program and would like to thank the team at Condor Energy Services for completing the drilling and logging of the Wilson River-1 well safely and on time. We look forward to providing shareholders with an update on further analysis and the testing program shortly".

The information contained in this announcement has been reviewed by Empyrean's Technical director, Gaz Bisht, who has over 35 years' experience as a hydrocarbon geologist and geoscientist.

For further information please visit www.empyreanenergy.com or contact the following: