Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/empyrean-energy-provides-additional-information-to.shtmlEmpyrean Energy provides additional information to previous operational update
Empyrean Energy says that the data used to calculate total and average daily production volumes (in each case net to Empyrean) for
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Empyrean Energy says that the data used to calculate total and average daily production volumes (in each case net to Empyrean) for the three month periods to the end of December 2013 (Q4 2013) and March 2014 (Q1 2014) was based on a combination of wellhead production data and limited sales volume data with estimates for Natural Gas Liquids (NGLs). In line with previous production and operational updates, these production volumes are approximate, rounded and subject to change as NGL's are extracted and sales completed and volumes reallocated to each well.
In that regard, Empyrean also advises that its Annual Accounts for the year ended 31 March 2014 (the "Annual Accounts"), which are currently in the process of being finalised, will use revenue remittance advice direct from Marathon Oil Company, the operator, in order to establish revenues and thereby sold and allocated production volumes.
