Empire anticipates commencement of commercial production and gas sales in 2025.
Planning for the Carpentaria-5H ("C-5H") pilot development well, to be drilled in this work season subject to
After Quarter-end, Empire announced it had completed a
"Today's announcement by Empire is fantastic news for jobs, fantastic news for our economy and fantastic news for the future of the Territory"
Also after Quarter-end, Empire completed the sale of its
Cash at the end of the Quarter was
Comments from Managing Director
"The Empire team had a busy and productive Quarter focused on bringing EP187 in the
We announced the sale of our US production assets after Quarter end for up to
Shortly after the sale of the US assets, Empire announced that it had completed a
Proceeds of the raise will be applied to the drilling, stimulation and flow testing of our first 3,000m horizontal section pilot development well, and to progress surface facility design and installation in EP187.
We are progressing gas sales negotiations, the majority of the required regulatory applications have been submitted, and long-lead items are now being procured.
One of our major shareholders recently expressed to me his view that "the play is about to take off". This is a view I share. With our capital position now the strongest it has ever been, the Empire team's focus in coming months will be to bring this goal to fruition.
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About
Empire is an active Beetaloo Sub-basin operator, focused on maturing its assets to production. Following the successful appraisal drilling and flow testing of the Carpentaria-2H and 3H wells in Empire's EP187, Empire is targeting first gas flow in H1 2025 at its
Contact:
E: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net
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