India, March 7 -- Empyrean Energy PLC (EME.L) Friday has signed a Farm-In Agreement with Chi Oil and Gas Pty Ltd and Condor Energy Services Ltd to participate in drilling the Wilson River-1 well. The agreement grants Empyrean a 52.8% working interest in ATP1173 by funding part of the drilling costs, while Condor and Chi hold 27.2% and 20.0%, respectively. Condor Energy has been contracted to drill and test the well.
Drilling preparations are on schedule, with the pad ready, installations in place, and equipment mobilized. The joint venture expects to spud the well in March 2025, with an exact date to be confirmed.
CEO Tom Kelly acknowledged the JV's collaborative efforts in expediting the project and assured further updates as drilling pr...