SEAOOC Darwin September 2019 - MD Presentation
Sydney, Sep 4, 2019 AEST (ABN Newswire) - Empire Energy Group Ltd (
ASX:EEG) (EEGUF:OTCMKTS) SEAOOC Darwin September 2019 - MD Presentation - with a new board and new focus.
- Company recapitalisation in August 2018 and 1 for 10 consolidation
- Board renewal with Alex Underwood, Paul Espie, John Warburton and John Gerahty joining
- USA asset sale process commenced in late 2018 to reduce debt and focus on Beetaloo and McArthur
- Sale of Kansas assets for US$19.1 million announced reducing net debt from A$31m presently to ~A$6m, with pro-forma cash at bank of ~A$5m
- Empire will retain its cash flow positive New York / Pennsylvania gas production assets
To view the presentation, please visit:
https://abnnewswire.net/lnk/7176HKMZ
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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