SEAOOC Darwin September 2019 - MD Presentation
SEAOOC Darwin September 2019 - MD Presentation
Sydney, Sep 4, 2019 AEST (ABN Newswire) - Empire Energy Group Ltd (ASX:EEG) (OTCMKTS:EEGUF) 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 Empire Energy Group Ltd

Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) is a conventional oil and natural gas producer with operations in Appalachia (New York and Pennsylvania) and the MidCon (Kansas and Oklahoma).

The Company has over 14.5 million acres in the McArthur & Beetaloo Basins, Northern Territory, both of which are considered highly prospective for large shale oil and gas resources. Work undertaken by the Company over the past 5 years demonstrates that the Central Trough of the McArthur Basin, of which the Company holds around 80%, is highly prospective, with key similarities to those extending through Oman, Siberia and Southern China and which contain resources of billions of barrels of oil equivalent.

 


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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Empire Energy Group Ltd

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