Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Empyrean Energy ( (GB:EME) ) just unveiled an update.
Empyrean Energy announced significant progress in its operations, notably in Indonesia, where it has secured a domestic Gas Sales Agreement with PT Perusahaan Gas Negara for the Mako gas field, and an export agreement with Sembcorp for gas supply to Singapore. These agreements represent a major step in commercializing the Mako field and securing a stable revenue stream, positioning Empyrean favorably in the energy market. However, the company faced challenges in China with the expiration of the Block 29/11 permit and is attempting to resolve alleged outstanding obligations with CNOOC. Additionally, Empyrean has raised £1.255m in funding and is exploring new opportunities in the Cooper Basin in Australia, which could diversify its portfolio and enhance future growth prospects.
More about Empyrean Energy
Empyrean Energy PLC is a development company in the oil and gas sector, with interests primarily in China, Indonesia, and the United States. The company focuses on the exploration and development of energy projects and has ongoing initiatives in the West Natuna Basin in Indonesia, Block 29/11 in China, and other potential ventures in Australia.
YTD Price Performance: -85.61%
Average Trading Volume: 15,699,154
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £2.42M
See more insights into EME stock on TipRanks’ Stock Analysis page.
