Issue of Equity

Empyrean Energy PLC
07 March 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
778,568 new ordinary shares of 0.02p each, at a price of 35 pence per share,
pursuant to an exercise of warrants. 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 33,962,200.


For further information

Laurence Read/ Angus Prentice       David Newton             Chris Lambert
         Conduit PR                 HB-Corporate          Empyrean Energy plc
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