Empyrean energy reported that the operator of Eagle Oil Pool Project in California, Victoria Petroleum Ltd ("VicPet"), has been attempting to farm down their interest in this project and attract a new locally based (USA) operator in to operate.
Empyrean Energy is aware that the project was showcased in Houston during the last fortnight at a major US oil conference and that there has been significant interest in the project.
Empyrean currently maintains their 38.5% interest in this project and keenly awaits news of any negotiations with the operator such that a new well can be drilled on this project as early as possible.
A further update will be provided as significant developments occur.
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