Empire Energy Group Limited (ASX:EEG) (OTCMKTS:EEGUF) is pleased to provide shareholders with its Quarterly Activity Report for the period ending 31 December 2019.

Activity Report for the Quarter ended December 2019

HIGHLIGHTS

- Empire's newly acquired, processed, and interpreted 2D seismic confirms a material Beetaloo Basin acreage position wholly owned by Empire

- Empire EP187 2020 exploration drilling approvals well advanced

- Solid US operational performance negatively impacted by low prevailing US gas prices

- US cost reduction measures implemented following Kansas asset sale, resulting in one-off restructuring costs

- Empire in a net cash position for the first time since 2010 following successful completion of A$12 million placement

- Directors of the Company increased their shareholdings during the Quarter

- Research coverage initiated on Empire

- Santos vertical Tanumbirini-1 well production testing results above expectations

- Origin horizontal Kyalla 117 N2 1H well drilling advanced

To view the quarterly report, please visit:
https://abnnewswire.net/lnk/UO00L13W


About Empire Energy Group Ltd

Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) is a Sydney based Australian oil and gas company holding 100%-owned and operated assets with unconventional targets in the Northern Territory Beetaloo Sub-basin and central trough of the McArthur Basin.

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 Carpentaria Pilot Project. The Pilot has a targeted sales gas rate of up to 25 TJ per day utilising the existing McArthur River Pipeline.

 

Contact

Empire Energy Group Ltd
E: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net



Link: Quarterly Activities Report


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