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Empire Energy Group Ltd (ASX:EEG) Quarterly Activities Report
Quarterly Activities ReportSydney, July 30, 2021 AEST (ABN Newswire) - The second Quarter has been productive for Empire Energy Group Limited (
Major highlights of the Quarter:
- Transformational acquisition of Pangaea and EMG NT, Beetaloo Sub-basin assets, nearly doubling Empire s NT acreage focused on the highly prospective Beetaloo Sub-basin
- Post-acquisition, Empire s best estimate Prospective Resources (2U) will total ~47 Tcfe comprising 42 Tcf gas and 791 MMbbls liquids (condensate and oil) while 2C Contingent Resources will be 220 Bcfe comprising 199 BCF gas and 3.5 MMbbls of liquids
- The Board and management team of Empire has been strengthened with Mr Louis Rozman completing his first full Quarter as a Director and Mr Paul Fudge and Ms Jacqui Clarke (his alternate) will join the Board once the acquisition completes
Empire Energy Group Ltd (ASX:EEG) $21 million Beetaloo Drilling Grants Approved
$21 million Beetaloo Drilling Grants ApprovedSydney, July 8, 2021 AEST (ABN Newswire) - Empire Energy Group Ltd (
Highlights:
- The Federal Government has approved up to $21 million in grant funding to Empire under the Beetaloo Cooperative Drilling Program
- The funding will support the drilling and flow testing of up to 3 fracture stimulated horizontal appraisal wells in Empire s 100% owned EP187 tenement, additional seismic acquisition and other associated costs
- Empire s planning for its first fracture stimulated horizontal appraisal well later this year is well advanced and fully funded
- Empire expects to commence drilling its first horizontal appraisal well, which will benefit from the grant funding, in Q4 this year (subject to NT Government approvals which are well advanced)
Empire Energy Group Ltd (ASX:EEG) Pangaea Acquisition Update
OTCMKTS:EEGUF) is pleased to announce the release of its Notice of General Meeting to consider Empire s acquisition of Pangaea (NT) Pty Limited ( Pangaea ) and EMG Northern Territory Holdings Pty Limited ( EMG NT ) 100% interests in EP167, EP168, EP169, EP198 and EP305, located onshore Northern Territory. The General Meeting will be convened at 2pm (AEST) on Tuesday 3 August 2021.
The Notice of Meeting reflects a change to the transaction terms from those announced by Empire to ASX on 14 April 2021. The amended terms mean that the number of Empire shares to be issued to Pangaea at completion will be limited to an amount that will not result in Pangaea or its associates acquiring more than a 20% shareholding in the Company at any time. Following completion and subject to all requisite approvals (including Empire shareholder approval and Northern Territory Government approval), Pangaea may call for the issuance of
Empire Energy Group Ltd (ASX:EEG) Investor and Analyst Briefing Presentation
OTCMKTS:EEGUF) shareholders are reminded that Empire Managing Director Alex Underwood will host an investor and analyst briefing call at 11am (AEST) today to discuss the recent Carpentaria-1 flow test results and the next steps in Empire s Beetaloo Sub-basin work programs.
To view the presentation, please visit:
About Empire Energy Group Ltd
Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) holds over 14.5 million acres of highly prospective exploration tenements in the McArthur and Beetaloo Basins, Northern Territory. Work undertaken by the Company since 2010 demonstrates that the Eastern depositional Trough of the McArthur Basin, of which the Company holds 80% has very considerable conventional and unconventional hydrocarbon potential. The Beetaloo sub-Basin, in which Empire holds a substantial position, has independently assessed world class hydrocarbon volumes in place with a major ramp up in indust