Northern Territory Operations Update
EP187 2019 2D SEISMIC ACQUISITION PROGRAM
Having obtained all required Northern Territory Government regulatory approvals, Empire has commenced the EP187 (Beetaloo Sub-basin) 2019 2D Seismic acquisition program. The ~231-line kilometres of 2D seismic data are being acquired by Velseis, an Australian seismic acquisition contractor with experience operating in the Northern Territory. The 2D seismic acquisition programme is expected to take 3 weeks to complete after which these data will be processed. The seismic program is fully funded from cash at bank.
In addition, Velseis' seismic data processing group has formally been awarded the contract for processing the EP187 2D seismic data sets. Historically Velseis has processed thousands of kilometres of 2D seismic data in the vicinity of the EP187 permit. Awarding the 2D seismic processing contract to Velseis not only reduces costs but shortens the processing timeline from field to finalised interpretive product. Empire expects to begin interpretation of our new 2D seismic data sets before the end of 2019.
Analysis and interpretation of the new 2D seismic data will be used to optimise the selection of surface drilling locations on EP187 for our 2020 exploration drilling campaign, and ultimately the drilling and completion design for appraisal and development wells as the company moves forward.
EP187 EXPLORATION DRILLING PLANNING
In Q3 2019, Empire advised shareholders that its wholly owned subsidiary, Imperial Oil & Gas, had submitted an Environment Management Plan (EMP) for the drilling of up to two wells in EP187 which the Northern Territory Government accepted and which is undergoing formal assessment.
Once approved by the Northern Territory Government, the EMP would remain in place for five years, thereby providing Empire with significant flexibility regarding timing and planning for prospective drilling operations.
The approval process, which is already well underway, is progressing well.
Empire anticipates that it will receive Northern Territory Government approvals for the drilling program in advance of the commencement of the 2020 dry season (early Q2 2020).
Empire will continue to update shareholders as the approval process progresses.
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