Sydney, May 22, 2020 AEST (ABN Newswire) - FINANCE VIDEO: Empire Energy Group Limited (
ASX:EEG) (EEGUF:OTCMKTS) MD Alex Underwood speaks with Julian Malnic about the independently assessed shale gas resource of 13 Trillion Cubic Feet of Gas in the Northern Territory.
The prospective resource estimate was prepared by Netherland, Sewell & Associates, Inc. ("NSAI"), a worldwide leader of petroleum property analysis to industry, financial organizations and government agencies.
Commenting on the results, Empire Managing Director, Alex Underwood said:
"The prospective resources assessed by NSAI are exciting, with a total best estimate prospective resource of 13.5 TCF. This is a substantial resource for a company of our size. The results of Empire's recent 2D seismic program have enabled NSAI to evaluate prospects in EP187 which have a best estimate prospective gas resource of over 2.3 TCF in the Velkerri Shale and 14 million barrels of oil equivalent in the liquids rich Kyalla Shale. This represents a near doubling of Empire's Velkerri Shale independent prospective resource estimate and is the first time that the Kyalla Shale has been independently assessed as a prospective resource in our properties. The plays evaluated by NSAI in our McArthur Basin properties have substantial resource potential. Our exploration activity to date is yielding strong results and we look forward to continuing to enhance the value of our properties through measured exploration investment."
To view the video interview, please visit:
https://www.abnnewswire.net/press/en/100903/eeg
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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