Press Releases

Perth, Nov 10, 2008 (ABN Newswire) - Empire Oil & Gas NL (ASX:EGO)(PINK:EOLGF) is pleased to announce the status of drilling Lake MacLeod-1 for the period 0000 hrs 7 November 2008 to 2400 hrs 9 November 2008.

The current operation at 0600 hrs 10 November 2008: run back in hole from 783m. Wiper trip, conduct survey, pull out of the hole to run electric wireline logs to evaluate reservoir sections in the well The future operations: Drill ahead to 900m.

LAKE MACLEOD-1 PETROLEUM EXPLORATION WELL

EP 439/461, WESTERN AUSTRALIA

1. Well Name/Permit Lake MacLeod-1 - EP 439/461, Western Australia

2. This report is for the Period: The period 0000 hrs 7 November 2008 to 2400 hrs 9 November 2008

3. This ASX Release Time and Date: 1000 hrs WST 10 November 2008

4. Report No: 17

5. Spud Date/Rig: 30 September 2008

6. Days since Spud: 31 (Excluding crew break from 7 to 15 October 2008)

7. Location of Well: Latitude 240 35' 26.03"S Longitude 1130 32' 19.38"E 2kms north east of Shot Point 1500 seismic line CG83-01

8. Elevation:

G.L. 2 metres
RT. 3 metres
RT to GL 5 metres

9. Proposed Total Depth: 900 metres

10. Targets: Gneudna Formation Carbonates and the Nannyarra Sandstones

11. Present Depth: At 2400 hrs 9 November 2008 - 873m.

12. Geological Summary:

For 0000 hrs 7 November 2008 to 2400 hrs 9 November at 873m -
747m to 873m- Nannyarra Sandstone, sandstone with subordinate siltstone and
claystone. Sandstone increasing with depth.

Formation Tops
Trealla 15
Cardabia 25
Korojon 70
Toolonga 183
Gearle 465
Windalia 515
Muderong Shale 529
Birdrong Sandstone 542
Gneudna 559
Nannyarra Sandstone 708

13. Hydrocarbon Indications: None.

14. Operations since last Report: Drill ahead from 747m to 873m.

15. Current Operations: Run in hole from 783m at 0600 hrs 10 November 2008

16. Future Operations: Drill ahead to 900m, wiper trip, survey, pull out of the hole to run electric wireline logs.

17. Participants in the well:

Empire Oil & Gas N.L. (Rough Range Oil Pty Ltd - Operator)- 30.356%
Longreach Oil Limited - 9.352%
Indigo Oil Pty Ltd - 4.676%
Falcore Pty Ltd - 2.596%
Vigilant Oil Pty Ltd - 0.52%
Jurassica Oil & Gas Plc - 35%
Black Fire Energy Limited - earning 7.5% by Farmin from the J.V.
DVM International Limited - earning 10% by Farmin from the J.V.

Contact

Mr Craig Marshall Managing Director Phone: +61-8-6389-2687 Facsimile: +61-8-9386-6812 E-mail: cmarshall@empireoil.com.au