Issue of Equity

Empyrean Energy PLC
04 April 2006



                              Empyrean Energy PLC
                  ('Empyrean' or the 'Company'; Ticker: (EME))


                              Exercise of Warrants

AIM quoted Empyrean Energy PLC today announces that it has issued and allotted
232,500 new ordinary shares of 0.02p each, at a price of 20 pence per share and
843,971 new ordinary shares of 0.02p each, at a price of 35 pence per share,
pursuant to an exercise of warrants and options.

Application will be made for these shares to be admitted to trading on AIM. The
shares will rank pari passu with the existing ordinary shares of 0.02p each in
the Company.

The total number of ordinary shares in issue following this exercise of warrants
is 35,038,671.


For further information

Laurence Read/ Angus Prentice       Toby Howell               Chris Lambert
         Conduit PR                 HB Corporate           Empyrean Energy plc
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