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Empyrean updates on progress at Dempsey Well

Monday, 17th July 2017
Empyrean Energy said it has noted the announcement, released today, by Sacgasco regarding the Dempsey Natural Gas Well in the Sacramento Basin, onshore California, in which Empyrean has a 30% interest.

Sacgasco has advised that the construction of the drilling pad for the Well is now complete and spudding of the Well is on track for late July.

Tom Kelly, Empyrean CEO, commented:

"We are delighted with Sacgasco's news that the drill pad is ready for the Dempsey well. This JV owned and operated infrastructure will generate almost immediate cash flow from any gas which is discovered at the location, and combined with low operating costs, makes commerciality threshold for natural gas production at Dempsey very low. This, together with our Indonesian and Chinese interests, presents a compelling investment opportunity for Empyrean and our multi-jurisdiction portfolio. I look forward to providing further updates on this asset in the near term."

At 1:49pm: (LON:EME) Empyrean Energy PLC share price was 0p at 11.38p

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