Empire Energy Group Ltd Stock Market Press Releases and Company Profile
2019 Annual Report
2019 Annual Report

Sydney, Mar 31, 2020 AEST (ABN Newswire) - Empire Energy Group Ltd (googlechartASX:EEG) (googlechartEEGUF:OTCMKTS) is pleased to present you with Empire's 2019 Annual Report.

In 2019 we made significant progress executing our strategy for value creation, which is focused on:

1. Debt reduction and the optimisation of our US assets to focus on our world-class Northern Territory McArthur and Beetaloo Basin position;

2. Building upon our Northern Territory asset base focused on upstream oil and gas through strategic investment in the exploration, appraisal and development of our McArthur and Beetaloo Basin assets and potentially others consistent with the capital capacity of Empire Energy and its partners; and

3. Building a Board of Directors and management team with the experience and capability to guide Empire through what we believe will be a significant and sustained period of growth.

Having repositioned the Company since 2018, the Board and management team have established a platform for longer term growth notwithstanding poor capital market conditions caused by COVID-19 and oil market instability. We consider the future of the Beetaloo and McArthur Basins to have very high value.

To view the Annual Report, please visit:
https://abnnewswire.net/lnk/7FXX8X19


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.

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Contact

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



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