Sets Up Northern Territory Plans
The company, which has proposed a 2D Seismic EMP, plans to undertake seismic line land clearing and seismic acquisition. This data would be used to select drilling locations for development wells.
Empire has also submitted an EMP for the drilling of two wells through its subsidiary, Imperial Oil & Gas.
The approval process is expected to take 90 days, with EMPs remaining in place for five years after approval.
Empire hopes to enter into a joint venture as it currently owns 100 per cent equity and 'drill ready' prospects.
The seismic program will be self-funded and is expected to be completed in the fourth quarter of 2019.
Empire's operations in the Northern Territory cover 14.5 million acres and include potential of more than 13,000 petajoules of resource equivalent.
About Empire Energy Group Ltd
Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) holds over 14.5 million acres of highly prospective exploration tenements in the McArthur and Beetaloo 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 80% has very considerable conventional and unconventional hydrocarbon potential. The Beetaloo sub-Basin, in which Empire holds a substantial position, has independently assessed world class hydrocarbon volumes in place with a major ramp up in industry activity underway to appraise substantial discoveries already made by major Australian oil and gas operators.
Empire Energy is an experienced conventional oil and gas producer with operations in the Appalachia region (New York and Pennsylvania). Empire has been successfully developing and producing oil and gas since 2006.
Empire Energy Group Ltd