Business
Interim Results
Empyrean Energy PLC reported interim results for the six months ended 30 September 2025, highlighting a binding Gas Sale Agreement for the Mako Gas Field with PT PLN Energi Primer Indonesia and a new farm-in agreement with PT Nations Natuna Barat, subject to regulatory approvals. The company also noted a dispute with West Natuna Exploration Limited regarding outstanding cash calls totaling US$789,815, which Empyrean believes has no basis. Operationally, the Wilson River Project in Australia was unsuccessful, with the well plugged and abandoned after encountering formation water. Corporate activities included successful fundraising efforts, raising US$0.825 million in April and US$1.354 million in July 2025. The company's net assets were negative US$4.02 million, with a cash balance of US$3.06 million, and it acknowledged the need for further funding. Disclaimer*
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n\n \n11 December 2025\n \n \nEmpyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas\n \nEmpyrean Energy PLC ('Empyrean' or 'the Company')\nInterim Results\n \nEmpyrean Energy (EME: AIM), the oil and gas development company with interests in China, Indonesia and the United States, is pleased to provide its Interim Report for the six months ended 30 September 2025.\n \nHighlights\n \nReporting period\n \nDuyung PSC Project, Indonesia (EME 8.5%)\n \n· In July 2025, Conrad Asia Energy Ltd (\"Conrad\") signed a binding GSA for the sale and purchase of natural gas from the Mako Gas Field with PT PLN Energi Primer Indonesia (\"PLN EPI\"), a wholly owned subsidiary of the Indonesian state-owned electric utility company PT Perusahaan Listrik Negara (Persero) (\"PLN Persero\").\n \n· This followed a directive from the Indonesian Ministry of Energy and Mineral Resources (\"MEMR\") that all Mako gas be made available for the Indonesian domestic market in Batam with the gas to be purchased by PLN EPI.\n \n· In addition, MEMR revoked its earlier allocation and pricing Directive to sell Mako gas to PT Perusahaan Gas Negara Tbk (\"PGN\") and Sembcorp Gas Pte Ltd. (\"Sembcorp\") and the GSAs with PGN and Sembcorp were terminated.\n· In November 2025, Empyrean received a Notice of Election of Remedy and Forced Withdrawal (\"Notice\") from West Natuna Exploration Limited (\"WNEL\"), a wholly owned subsidiary of Conrad.\n \n· The Notice was issued while Empyrean and WNEL/Conrad had been engaged over several months in constructive and good-faith discussions regarding the settlement of outstanding cash calls, in accordance with the dispute-resolution procedures set out in the Joint Operating Agreement dated 21 May 2020 (\"JOA\"). These discussions continue and Empyrean's position is that the dispute-resolution process is active and ongoing and no such remedies may be exercised under the JOA. Empyrean reiterates that it is confident in its view that there was no basis to issue the Notice and is taking all necessary action to defend its position.\n \n· Empyrean also notes that the parties h...