Empyrean Energy plc
Empyrean Energy plc (“Empyrean” or “the Company”) is a United Kingdom based company listed on the AIM market. Its principal activities are exploring and developing energy resource projects with a predominant focus on projects in geopolitically stable environments such as the Germany and the USA. The Company is currently involved in four projects including the Glantal Gas Project, the Eagle Oil Pool Development Project, the Margarita Project and Sugarloaf Hosston Project.
Empyrean raised £4,484,988 before expenses on 10 June 2008 through a placing of 8,969,976 new ordinary shares at a price of 50 pence per share. The proceeds are to be used to support further development of the gas condensate discovery at the Sugarloaf Project.
BUYING SIGNAL: speculative buy
COMPANY NAME: Empyrean Energy plc
COMPANY TICKER: EME.L
COUNTRY: United Kingdom