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.
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.”