Empire Energy Group Ltd (ASX:EEG) Chairman s Address to Shareholders
Chairman s Address to ShareholdersSydney, May 27, 2021 AEST (ABN Newswire) - By any measure this has been an exciting year, with major developments for Empire Energy Group Ltd (
OTCMKTS:EEGUF) through a period of volatile economic conditions and oil prices.
Recent events in the Australian energy markets highlight the critical role for gas in stabilising the electricity system, its dependent industries and consumers. The power failures this last week at Callide in Queensland and inter alia Liddell in New South Wales impacting many households and putting at risk the Tomago Aluminium Smelter make this all too clear.
Empire Energy Group Ltd (ASX:EEG) Completion of Share Purchase Plan
Over 400 Empire shareholders have participated in the SPP.
Due to very strong demand for SPP shares, the Board has exercised its discretion to increase the size of the SPP to $6 million in order to accommodate Empire shareholders who have demonstrated their support for the Company by participating in the SPP. This will result in a lower level of scale back than otherwise would have occurred if the size of the SPP had remained at $3 million.
The SPP shares will rank equally with existing Empire shares on issue. The SPP shares are expected to be issued on Tuesday 18 May 2021 and to commence trading on ASX on Wednesday 19 May 2021.
VIDEO: Empire Energy (ASX:EEG) Alex Underwood Speaks with Julian Malnic about Upcoming Activities
Sydney, May 6, 2021 AEST (ABN Newswire) - Empire Energy (
ASX:EEG) (EEGUF) has agreed to acquire an 82.5% interest in Exploration Permits EP167, EP168, EP169, EP198 and EP305 (together the Vendor Tenements ) from Pangaea, a company founded and owned by Mr Paul Fudge, an established company builder and hydrocarbon project operator.
The Vendor Tenements complement our existing acreage in the Northern Territory s the Greater McArthur Basin and Beetaloo Sub-Basin. Netherland, Sewell and Associates, Inc ( NSAI ) has independently assessed a best estimate Prospective Resource of 22.8 TCF gas and 630 MMbbls liquids net to the acquired 82.5% interest in the Vendor Tenements.
Empire Energy Group Ltd (ASX:EEG) Quarterly Activities Report
OTCMKTS:EEGUF) announced a 47% upgrade to its best estimate Prospective Gas Resource to 3.5 TCF (47% increase) and a maiden best estimate Contingent Gas Resource of 41 BCF within EP187. Empire also made material progress during the quarter planning for an active field season this year.
After quarter end, the Company agreed, subject to customary conditions precedent, to acquire the Beetaloo Basin properties of Pangaea Resources, making Empire one of the largest acreage holders in the Greater McArthur Basin and Beetaloo Sub-basin. Key highlights include:
- Empire s best estimate Prospective Resources have nearly trebled to ~41 TCFe comprising 37 TCF gas and 657 MMbbls liquids (condensate and oil)
Empire acquires EMG s Beetaloo portfolio
Apr 26, 2021 3:14:am
Summary Empire had recently acquired a majority stake in fellow Australian explorer Pangaea Group’s Beetaloo sub-basin portfolio.
by: Shardul Sharma
Posted in:
Empire acquires EMG s Beetaloo portfolio
Sydney-listed Empire Energy on April 26 said it had acquired Houston-based EMG s portfolio in the Beetaloo basin in Northern Territory.
EMG will sell its 17.5% interest in EP167, EP168, EP169, EP198 and EP305 to Empire s subsidiary Imperial Oil & Gas for A$1.061mn ($0.82mn) cash, approximately 29.7mn Empire shares, and about 1.7mn options to acquire ordinary Empire shares at A$0.70/share. On completion of the deal, EMG will own approximately 5% of the ordinary share capital of Empire.