Announcement • May 02
Empyrean Energy plc Provides Mako Gas Project Update Empyrean Energy plc provided the following update on progress at the Duyung PSC and the Mako Gas Field in Indonesia. Following Empyrean's announcement on 3 March 2026 in which Conrad Asia Energy Ltd. and its majority-owned subsidiary, West Natuna Exploration Limited, as operator, approved the Final Investment Decision for the Mako Gas Project, Conrad have advised the market that project development activities remain on track. As detailed by Conrad in their ASX Quarterly Activities Report for the period ending 31 March 2026, by the end of First Quarter 2026, West Natuna Exploration Limited had issued letters of award covering more than USD 280 million of the Mako Gas Project capital contracts, constituting over 80% of the total capital costs. Letters of award have been issued for the drilling rig, SURF (subsea, umbilicals, risers, flowlines) EPCI, CSF (conductor support frame) EPCT, and all long lead items. Several milestone payments have already been made to the contractors. Cost remain in line with previous guidance. The Mako Gas Project is structured as a tow-phase programmed initially comprising six development wells (this Final Investment Decision) tied back to a leased Mobile Offshore Production Unit at the field. The Mobile Offshore Production Unit has a design capacity of 172 mmscfd. Sales gas will be transported via an approximately 59km, 18-inch pipeline to the KF platform in the adjoining Kakap PSC, then through the West Natuna Transportation System pipeline for delivery to the Indonesian domestic market. Supply will be facilitated via a new spur pipeline from the West Natuna Transportation System to Pemping Island, Riau Province, which is being constructed by PLN EPE, a wholly owned subsidiary of PLN Persero. Gas allocation volumes and transportation tariffs within the West Natuna Transportation System have been agreed with SKK Migas and the West Natuna Transportation System Joint Venture. A formal Gas Transportation Agreement is expected to executed in the coming weeks. As advised previously, total capital expenditure to first gas is estimated at USD 320 million (100% basis). The Mako Gas Project is fully-funded (including a substantial contingency) and remains on-track for first gas in Fourth Quarter 2027. Under its agreement with Conrad, as announced on 23 February 2026, Empyrean is entitled to 8.5% of all cash payments to West Natuna Exploration Limited. The information in this announcement has been reviewed by Empyrean's Technical Director, Gaz Bisht, who has over 36 years' experience as a hydrocarbon geologist and geoscientist. Announcement • Feb 27
Empyrean Energy PLC Announces Appointment of Gajendra (Gaz) Bisht as CEO, Effective February 27, 2026 Empyrean Energy PLC announced that current Interim Chief Executive Officer and Technical Director Gajendra (Gaz) Bisht has been appointed as CEO, effective immediately (27 February 2026). Mr. Bisht will also continue in his role as Technical Director. The appointment of Mr. Bisht to perform both roles represents the most prudent course in the circumstances and recognises his commitment and performance over the past 6 months in the interim CEO role. This appointment follows the successful settlement with Conrad and securing of Empyrean's participation in the Mako Gas Discovery. It also reflects a focus on cost reduction while the Company assesses new value accretive opportunities in the oil and gas sector. As advised, Empyrean is currently undertaking a disciplined evaluation of its broader portfolio and is assessing new growth opportunities. Gaz Bisht is an oil and gas professional with over 36 years of proven skills in all aspects of Exploration and Production. In the past 5 years, he has developed strong business acumen in strategy framing and execution and has built deep and effective relationships with international companies as well as regulators in South-East and North Asia, particularly in Indonesia, China and Malaysia. Announcement • Sep 04
Empyrean Energy Plc, Annual General Meeting, Sep 30, 2025 Empyrean Energy Plc, Annual General Meeting, Sep 30, 2025. Location: the offices of cavendish capital markets, 1 bartholomew close, ec1a 7bl, london United Kingdom 
