Chair Address and Presentation to the 2025 AGM
Sydney, May 29, 2025 AEST (ABN Newswire) - Empire Energy Group Limited (
ASX:EEG) (EEGUF:OTCMKTS) confirms that its 2025 Annual General Meeting (AGM) will be held today Thursday, 29 May 2025 commencing at 9:30am (Sydney time).
Chair address to be delivered at the AGM by the Chair, Peter Cleary.
My address is on behalf of the Board, Karen Green, Professor John Warburton, Louis Rozman and our CEO and Managing Director Alex Underwood. Alex will address you shortly with a more in-depth update of activities on the ground and in the market.
Your Empire team worked tirelessly in pursuit of our objective of bringing gas to the Northern Territory market. We drilled Carpentaria -5H and readied it for fracture stimulation, continued refurbishing the gas plant and with the support of InGauge progressed the engineering works needed to bring us to first gas. Alex will update you on the current timeline.
As a Board, we continue to be impressed by the skill, dedication and ownership shown by the Empire team lead by Alex. It is currently a small team compared to others, but is efficient, effective and continues to deliver. On behalf of the Board and all shareholders, I would like to thank everyone on the team.
In 2024 we continued our engagement with the Northern Land Council in preparation for our On Country meeting with the traditional owners of the land on which the Carpentaria project operates. I commend our team for the efforts they have taken to provide detailed information about our activities to our first nations stakeholders. We take our obligations to inform and to demonstrate our safety and environmental credentials seriously.
We are pleased that several of the traditional owners are employed on Carpentaria- 5H and we aim to create more opportunities when we start construction of the gas plant. In November at the commencement of drilling, the traditional owners performed a smoking ceremony to welcome the drilling crew to their country and to protect workers on site.
The Board would like to thank the previous NT Government which helped us secure our first gas sales agreement. The current government led by the Honourable Lia Finocchiaro recognises the importance of bringing new gas to the Northern Territory so has provided excellent support to Empire. Quite rightly, the government has held us to the highest environmental standards, but it has also been timely and decisive allowing us to move forward with confidence. We look forward to continuing to work with Lia and her team as we develop our projects in the Beetaloo Basin.
Today we are asking you to approve the change to our name. Empire reflected a time when the company was active in New York State but with our focus now solely on the Northern Territory and our activities in the Beetaloo Basin, we decided it was time for a more apt name. The new name also reflects our Australian roots. Our operations are here, our staff are located here and most of our shareholders are Australian, hence our continued listing on the Australian Stock Exchange.
Our objective is to grow the value of our company for the benefit of all stakeholders. I have mentioned a few but finally I would like to acknowledge our shareholders. Several have been with us for many years. We have some who joined through the merger with Pangaea, others from the USA who see great similarities in the Beetaloo with the shale gas plays in the USA and those from the Northern Territory who strongly supported our recent capital raise. The Board would like to thank them for their faith in our mission and their continuing support.
Thank you
Chair, Peter Cleary
*To view the Managing Director's Presentation, please visit:
https://abnnewswire.net/lnk/HTX282AJ
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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