Perth, Mar 11, 2008 (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO)(PNK: EOLGF) Drilling Progress Report dated 11 March 2008 for the Period 0600 hrs 10 March 2008 to 0600 hrs 11 March 2008. Total depth of the Moriary-1 of 2598m well was reached at 2400 hours, 9 March 2008.

During the 24-hour period the operations have been, pulling the drill bit out of the hole and conducting a wiper trip prior to running electric wireline logs to evaluate the hydrocarbon shows in the well.

MORIARY-1 PETROLEUM EXPLORATION WELL EP 426 NORTH PERTH BASIN WESTERN AUSTRALIA

1. Well Name/Permit Moriary-1/EP 426, North Perth Basin, Western Australia

2. This Report is for the Period: The 24 hour period 0600 hours WST 10 March 2008 to 0600 WST 11 March 2008

3. This ASX Release Time and Date: 1030 hours 7 March 2008

4. Report No: 21

5. Spud Date/Rig: 1300 hours 12 February 2008/ADS Rig 6

6. Days since Spud: 28

7. Location of Well: Latitude 290 17' 01.469" S/Longitude 1150 20' 19.081" E

8. Elevation: G.L. 178.32 metres

RKB: 182.64m

9. Total Depth: 2558m RKB. Total depth reached 2400 hours, 9 March 2008.

10. Targets: Sands within Cattamara Coal Measures.

11. Present Depth: 2598 metres.

12. Geological Summary: At 0600 hours at 11 March 2008 - No new formation was drilled

13. Operations since last Report: POOH. Commenced Wiper Trip.

14. Current Operations: Continue Wiper Trip

15. Future Operations: Complete Wiper Trip before running electric wireline logging of all hydrocarbon shows recorded in Moriary-1.

16. Summary of Hydrocarbon Shows: Summary of the Oil Show intervals previously reported. These are to be evaluated by wireline electric logs

2366 - 2370m
2409 - 2417m
2458 - 2466m
2469 - 2472
2565 - 2570m
2575.5m to 2578.5m (basal show).

Note 1: All oil shows recorded in the Moriary-1 well will be evaluated by electric wireline logs which will evaluate hydrocarbons present and the formation. The decision to record additional logs for formation dip and pressure data will be made after the first log run.

17. Prospect Description: The Moriary Prospect is an anticlinal structure, similar to the Mt Horner Oilfield with reservoir objectives the 'F', 'J' and 'L' Sands of the Jurassica-aged Cattamarra Coal Measures. Potential recoverable oil reserves are estimated to be 'F' Sands 3 million barrels, 'J' Sands 4 million barrels and 'L' Sands 4 million barrels.

18. Participants in the well:

Empire Oil & Gas N.L. (Operator) - 40%
Allied Oil & Gas Plc - 25%
Black Fire Energy Limited - 10%
ERM Gas Pty Ltd - 25%

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