Empire Energy Group Limited (ASX:EEG) (OTCMKTS:EEGUF) pleased to announce the commencement of the fracture stimulation, flowback and extended production testing program at Carpentaria-1.
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.
Empire Energy Group Ltd (ASX:EEG) Acquisition of EMG Beetaloo Interests
OTCMKTS:EEGUF) is pleased to announce that EMG Northern Territory Holdings Pty Limited ( EMG NT ), a member of The Energy & Minerals Group ( EMG ), has delivered a Notice of Exercise of Tag Along Right ( the Tag Right ) to Pangaea (NT) Pty Limited ( Pangaea ) pursuant to which it has exercised its right to sell its 17.5% interest in EP167, EP168, EP169, EP198 and EP305 (collectively, the Tenements ) to Imperial Oil & Gas A Pty Limited, a wholly owned subsidiary of Empire, on the same pro rata terms as the sale of Pangaea s interests in the Tenements. The Tag Right was flagged to Empire shareholders in the announcement dated 14 April 2021.
Empire Energy Group Limited (ASX:EEG) (OTCMKTS:EEGUF) is pleased to announce that it expects to commence the fracture stimulation and flow testing of its Beetaloo Sub-basin vertical discovery well, Carpentaria-1, in early June.
Empire Energy Group Limited (ASX:EEG) (OTCMKTS:EEGUF) is pleased to announce that gross proceeds of $30 million at $0.30 per share has been raised through a strongly supported two-tranche placement to institutional and sophisticated investors.