Sets Up Northern Territory Plans
Sydney, Sep 2, 2019 AEST (ABN Newswire) - Empire Energy Ltd (
ASX:EEG) (EEGUF:OTCMKTS) has become the first junior company to have environmental management plans (EMP) in the Beetaloo and McArthur Basins accepted for assessment by the Northern Territory Government since the lift of the fracking moratorium.
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.
Source: AustralianMining.com.au
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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