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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.

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