Zoran Arandjelovic, Epsilon Energy’s executive chairman, president and chief executive officer, stated: “For the past nine months we have been working on bringing in industry partners, raising additional capital, or a combination of both to fund the exploitation of our Oman Block 55 concession. Unfortunately all of these efforts have been unsuccessful. Today the Board of Directors of Epsilon Energy has instructed management to notify the Ministry of Oil and Gas, Sultanate of Oman, that Epsilon Energy is withdrawing from the previously signed EPSA.”
