2019 Annual Report
Sydney, Mar 31, 2020 AEST (ABN Newswire) - Empire Energy Group Ltd (
ASX:EEG) (EEGUF:OTCMKTS) is pleased to present you with Empire's 2019 Annual Report.
In 2019 we made significant progress executing our strategy for value creation, which is focused on:
1. Debt reduction and the optimisation of our US assets to focus on our world-class Northern Territory McArthur and Beetaloo Basin position;
2. Building upon our Northern Territory asset base focused on upstream oil and gas through strategic investment in the exploration, appraisal and development of our McArthur and Beetaloo Basin assets and potentially others consistent with the capital capacity of Empire Energy and its partners; and
3. Building a Board of Directors and management team with the experience and capability to guide Empire through what we believe will be a significant and sustained period of growth.
Having repositioned the Company since 2018, the Board and management team have established a platform for longer term growth notwithstanding poor capital market conditions caused by COVID-19 and oil market instability. We consider the future of the Beetaloo and McArthur Basins to have very high value.
To view the Annual Report, please visit:
https://abnnewswire.net/lnk/7FXX8X19
About Beetaloo Energy Australia Limited
Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-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 around 80%, has enormous conventional and unconventional hydrocarbon potential. The Beetaloo Sub-basin, in which Beetaloo Energy holds a substantial position, has world-class hydrocarbon volumes in place and a ramp up in industry activity to appraise substantial discoveries already made by major Australian oil and gas operators is ongoing.
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