Quarterly Activities Report
Activity Report for the Quarter ended December 2019
- 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
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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 industry activity underway to appraise substantial discoveries already made by major Australian oil and gas operators.
Empire Energy is an experienced conventional oil and gas producer with operations in the Appalachia region (New York and Pennsylvania). Empire has been successfully developing and producing oil and gas since 2006.
Empire Energy Group Ltd