04:08 AM EDT, 09/14/2026 (MT Newswires) -- Empyrean Energy (EME.L) signed a binding heads of agreement with ADX Energy's ADX VIE to acquire a 10% economic stake in the GOLD Cluster gas project in Austria, with plans to raise additional capital to fund the acquisition. The cluster, comprised of the GOLD, ZAUN, and GRAB shallow gas prospects covering 73 square kilometers, is located within the ADX-AT-II license area, according to a Monday release. The oil and gas explorer will invest an aggregate amount of 555,400 euros, representing 20% of the 2.8 million-euro cost of the planned GOLD-1 exploration well. Upon full payment, it will receive 10% of net revenues from the partnership after royalties. Empyrean Energy said it plans to place new ordinary shares to raise additional capital to fund the investment. Trading in the company's ordinary shares will enter a Capital Access Window trading halt, taking effect from 7:30 am London time on Monday.

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