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Empyrean Energy

  • BY: Andrew Hore |
  • POSTED: 26/02/2013 |

There has been disappointing news from US-focused oil and gas producer Empyrean Energy.

Marathon Oil, the operator of the Sugarloaf project says that it will be drilling 28 wells this year, compared with the original estimate of 65 wells.

This will slow the rate of growth in production and revenues for Empyrean.

Empyrean say that the drilling programme is still under discussion but even if the number of wells is increased it is unlikely to reach the original estimate.

At p a share, 6.75p a share, down 0.62p, Empyrean is valued at £14.9m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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