On 12 April 2024, Empire Energy Group Limited (
Further to that announcement, Empire announces that the sale achieved completion on Friday, 12 April 2024, US Eastern Time.
Following completion of the sale, upfront cash proceeds of US$5.9 million were received by Empire and the existing US Macquarie Bank loan of ~US$4.6 million was repaid in full.
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.
Contact
Empire Energy Group LtdE: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net
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