Advised Empyrean Energy Plc on £7.623 Million Fundraising
Advised Empyrean Energy Plc as part of its £7.623 million fundraising to complete funding requirements for a Chinese offshore drilling project. The team acted for Empyrean in entering in a convertible loan agreement with an investment fund based in Melbourne, Australia. Together with an equity placing to raise £3.623 million, the proceeds complete Empyrean’s funding requirements (on a dry hole basis) for the drilling of the Jade prospect at the company’s 100% owned Block 29/11 permit, offshore China.