Perth, April 28, 2008 AEST (ABN Newswire) - Empire Oil & Gas N.L. (ASX: EGO)(PINK:EOLGF)is pleased to announce that the Mullering 3D Seismic Survey of 50 km2 in Petroleum Exploration Permit EP 432, North Perth Basin was completed on 24 April 2008.
The recording of the Seismic Survey was delayed by a serious bushfire that encroached into the survey area. There followed unseasonal rainfall and the subsequent damp conditions enhancing the recording parameters of the seismic.
The Operator, Empire, anticipates the processing will result in a good quality modern seismic data set to define drillable Cataby-Mullering Prospects.
Cataby-Mullering Prospects
The Mullering 3D Survey was recorded over the Mullering Anticline, a large complexly faulted anticline, where the Cataby-1 well recovered oil on drill stem test. Empire is confident the 3D Seismic set will resolve the faulting over the crest of the anticline.
Potential recoverable reserves of the 10 leads identified to date on the Mullering Anticline are estimated to have recoverable oil reserves between 5 to 10 million barrels each if oil is present and the structures are full to their spill points.
Joint Venture participants, Allied Oil & Gas Plc and ERM Gas Pty Ltd, have the option to earn additional equity in EP 432 by contributing to drilling 1 well defined by the 3D Seismic. ERM Gas Pty Ltd's option is to increase its equity a further 12.5% to 25% by contributing 30% of the well costs. Allied Oil & Gas Plc can increase its equity to 50% from 25% by expending a further $1,500,000 towards the well costs.
Gingin West Seismic Survey
The Terrex 401 Seismic Crew commenced mobilisation from the Mullering 3D Seismic Survey programme completed in EP 432 on 24 April 2008 to the Gingin West 45 km2 3D Survey within Exploration Permit EP 389 located approximately 100 kilometres from the city of Perth, Western Australia. The Gingin West 3D Survey is designed to define the Gingin West Structure estimated to have potential recoverable gas reserves of 212 billion cubic feet of gas. Gingin West is the prospect located updip from Bootine-1 that flowed gas at a rate of 2.25 million cubic feet of gas per day from one sand. The 3D Survey is designed to define the crestal position of the structure to intersect all 5 of the Cattamarra Coal Measure Sands within structural closure.
------------------------------EP 416 Permit Equity Wellesley Seismic Survey ------------------------------Empire Oil & Gas N.L. 75% Allied Oil & Gas Plc 20% ERM Gas Pty Ltd 5%Status - Completed------------------------------EP 432 Permit Equity Mullering Seismic Survey------------------------------Empire Oil & Gas N.L. 62.5% Allied Oil & Gas Plc 25% ERM Gas Pty Ltd 12.5%Status - Completed------------------------------EP 389 Permit EquityGingin West SeismicSurvey------------------------------Empire Oil & Gas N.L. 62.5%Wharf Resources Plc 25%ERM Gas Pty Ltd 12.5%Status - To commence 26 April 2008
Contact
Mr Craig Marshall
Managing Director
TEL: +61-8-6389-2687
FAX: +61-8-9386-6812
EMAIL: cmarshall@empireoil.com.au
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