SEAAOC Conference Presentation
Sydney, Sep 13, 2023 AEST (ABN Newswire) - Empire Energy Group Ltd'S (
ASX:EEG) (EEGUF:OTCMKTS) Beetaloo footprint is comparable in size to significant portions of the core areas of the Marcellus Shale play in the Appalachian Basin.
More than 9,000 wells are producing from similar depths to Empire Beetaloo play (~34 percent of all Marcellus wells) across both core areas
The majority of the more than 27,000 producing Marcellus Shale wells are less than 2,250 metres below ground level
Marcellus shale producing acreage has typically transacted at US$5,000 to US$25,000 per acre2. Empire is valued at ~US$70 per acre based on the Carpentaria Project and Western Beetaloo Project alone
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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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