Empire Energy Group Ltd Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Sydney, July 31, 2020 AEST (ABN Newswire) - At the close of Q2 2020, Empire Energy Group Limited (googlechartASX:EEG) (googlechartEEGUF:OTCMKTS) is on the eve of exciting advances with the Company in readiness for the drilling of its first well in the highly-prospective and increasingly-active Beetaloo Sub-basin of the Northern Territory, Carpentaria-1. The upcoming drilling program represents a key milestone in the development of Empire's 100%-owned 14.5-million-acre shale petroleum project areas in the Beetaloo-McArthur Basins.

Highlights of Q2 2020 include:

- Locking in the well pad location and initiating site preparation for the drilling of the Carpentaria-1 well in EP187 for commencement of drilling operations late Q3 2020

- Long-lead items such as the wellhead and drill pipe for the Carpentaria-1 well ordered after the end of the Quarter

- Leading oil and gas industry professional, Mr Peter Cleary appointed as a Non-Executive Director

- Netherland Sewell & Associates independent resource report assesses that Empire holds a total best estimate Prospective Resource of 13.46Tcf across its Northern Territory properties, including over 2.3Tcf in the Velkerri Shale and 14 million barrels of oil equivalent in the liquids rich Kyalla Shale

- The Territory Economic Reconstruction Commission interim report stated strong support for the development of the onshore gas industry in the Northern Territory

- Further Empire Director share buying during the Quarter

Empire has on issue 36,218,754 unlisted options at A$0.30 per share expiring on 26 September

Comments from Managing Director Alex Underwood: Having demonstrated that the shales of the Beetaloo Sub-basin extend into EP187 following the 2019 2D seismic program, our team has had a busy quarter preparing for the upcoming drilling campaign. Our well to be drilled in EP187, Carpentaria-1, will be only the second well drilled in the Beetaloo Sub-basin since the lifting of the fracking moratorium.

The first well, Kyalla-117, was a horizontal well drilled by Origin Energy which is expected to be fracture stimulated and flow tested later this year. We have commenced the preparatory works for the upcoming drilling program including selection of a preferred drilling contractor and ordering of long-lead items including casing and a well head. Civil construction will commence shortly and we expect to mobilise the rig to site within weeks. The drilling of Carpentaria-1 is a defining moment for our Company.

It represents the culmination of over 2 years' work building our financial capacity and Board and management capabilities. We look forward to commencing the drilling program and sharing the results with shareholders soon.

To view the quarterly report, please visit:
https://abnnewswire.net/lnk/246MUYY3


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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Contact

Empire Energy Group Ltd
E: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net



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