Chairman's Address to General Meeting
Managing Director Alex Underwood will present today all this in detail.
Critical strengths of Empire (including Pangaea and EMG) are:
- Significant resources;
- Access to markets and proximity to key infrastructure; and
- Broad support from Australian and Northern Territory governments for the enhancement of the nation's transitional energy resources. The Federal Government's Beetaloo Cooperative Drilling Program will be a significant catalyst to the early development of these gas and liquids resources in the Northern Territory.
Other aspects of progress in Empire recently are the reinforcement of the balance sheet, shareholder base, Board and management. Together with the engagement of world class contractors and consultants in our drilling and development programmes, Empire is now attracting wider attention and support as it matures and proceeds to its next ambitious targets. The approval of shareholders today to the completion of the Pangaea and EMG transactions will reinforce this.
To view the Managing Director's Presentation, please visit:
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