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Empire reports strong gas flow from Carpentaria-1 Jun 28, 2021 1:55:am Summary by: Shardul Sharma Posted in: Empire reports strong gas flow from Carpentaria-1 Sydney-listed Empire Energy on June 28 reported “strong” gas flow rates from its Carpentaria-1 vertical well in EP187 tenement, located onshore Northern Territory in the Beetaloo sub-basin. Empire said that Carpentaria-1 had flowed gas to surface at rates that exceed expectations including an initial peak rate of more than 0.5mn ft 3/day and an initial stabilised rate of 0.37mn ft 3/day over a 72-hour test period. The well had also flowed gas at an instantaneous peak rate following a short shut-in of more than 1.6mn ft ....
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. ....