Empyrean bags Indonesia equity

摘要

Empyrean Energy has entered into a Sale and Purchase Agreement (SPA) to conditionally acquire up to a 20 stake in West Natuna Exploration Ltd (WNEL) from Conrad Petroleum. WNEL holds a 100 stake in the Duyung Production Sharing Contract (PSC) offshore Indonesia. Following completion of the acquisition, Conrad will retain an 80 stake in WNEL and will remain the operator of the Duyung PSC.