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Empyrean Energy due US$1.3mln of tax refunds

The AIM-quoted oil and gas group is receiving tax refunds from both the UK and United States

oil and gas operations
Some £298,816.50 has been paid by HMRC

Empyrean Energy Plc (LON:EME) told investors that it is due tax refunds totalling US$1.3mln.

It has now received a £298,816.50 payment from HM Revenue and Customs as a refund from tax paid in 2016.

READ: Empyrean Energy shares drop despite Dempsey production plans

The company also noted that it has been informed by the IRS that a tax refund of US$905,805 is due to be processed later this month.

“The proceeds from HMRC and the IRS will assist the Company's ongoing working capital requirements,” the company said in a statement.

“The company will provide an update when the US Tax Refund has been received and cleared to Empyrean's bank account.”

Quick facts: Empyrean Energy PLC

Price: 8.45 GBX

AIM:EME
Market: AIM
Market Cap: £37.43 m
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