Empyrean signs a conditional agreement for an Austrian gas exploration interest
Empyrean ($EME-LSE) Energy signed binding heads of agreement for an option to earn a 10% economic interest in the GOLD Cluster gas exploration project in Upper Austria. Despite its name, the project concerns natural gas, not gold mining. The interest would be held through a partnership structure rather than by directly acquiring a 10% licence stake. The proposed commitment totals €555,400, representing 20% of the estimated €2.777 million cost of the GOLD-1 well; the initial option fee is credite
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