06:56 AM EDT, 10/26/2026 (MT Newswires) -- Empyrean Energy (EME.L) expects spudding at the Gold-1 well in the Molasse basin of Upper Austria to begin in the first week of January 2027. The oil and gas explorer added that site construction at the well will start on Tuesday, according to a Monday release. ADX VIE GmbH currently holds 100% of the ADX-AT-II license area. In September, Empyrean said it signed a nonbinding heads of agreement with ADX VIE for a 10% economic interest in the Gold cluster, which also includes the Zaun and Grab shallow gas prospects, within the license area. The companies aim to execute an energy investment agreement by Friday.

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