Empire Energy Group Ltd.

Empire Energy Group Ltd.'s focus during the Quarter was progressing towards a final investment decision for the Carpentaria Pilot Project and planning for the $46.8 million capital raise described below. Empire anticipates commencement of commercial production and gas sales in 2025. Planning for the Carpentaria-5H pilot development well, to be drilled in this work season subject to Northern Territory approvals, is well [...]

Empire Energy Group Ltd. is pleased to announce that it has received binding firm commitments to raise $39 million via a strongly supported two-tranche placement of new fully paid ordinary shares to institutional and sophisticated investors at $0.16 per Share . - Commitments received from existing and new institutional and sophisticated investors for a strongly supported two-tranche placement to raise $39 million - Bryan [...]

On 12 April 2024, Empire Energy Group Ltd. announced it had entered into an unconditional agreement to sell Empire Energy E&P LLC to PPP Future Development, Inc for up to US$9.1 million. Empire E&P is the operating entity for all of Empire's US oil & gas assets. Further to that announcement, Empire announces that the sale achieved completion on Friday, 12 April 2024, US Eastern Time. Following completion of the sale [...]

Empire Energy Group Ltd. has entered into an unconditional agreement to sell its US oil & gas assets located in the Appalachian region for up to US$9.1 million, comprising: Upfront Cash Payment: US$5.9 million and Contingent and Solar Deferred Payments: US$3.2 million Upon completion, Empire's US Macquarie Bank credit facility will be repaid in full and US$2.2 million in cash will be available to support the development [...]

Empire Energy Group Ltd. Managing Director Alex Underwood speaks with ABN Newswire about recent developments in the Australian Gas Market. Mr. Underwood talks about the disruption to the gas pipeline that was delivering gas to the east coast, and now directed for consumption in the Northern Territory owing to the State's energy requirements. Key energy players presenting at the recent east coast gas and energy conference [...]

Empire Energy Group Ltd. continues progress to first commercial gas in the Beetaloo with the Carpentaria Pilot project. We anticipate commencing pilot production and sales in the first half of 2025 which would make Empire the first company to sell gas from the Beetaloo Basin. The critical shortage of new gas supply in Australia is most acute in the Northern Territory where declining supply from the Blacktip Gas Field and [...]

APA Group and Empire Energy Group Ltd. have executed an agreement for the establishment of midstream gas infrastructure furthering the memorandum of understanding announced by Empire on 27 October 2021. APA will spend up to A$5 million under a proposed early works agreement on Engineering and Design Concepts for midstream gas facilities associated with Empire's Carpentaria Pilot Project, which would materially reduce the [...]

During the quarter Empire Energy Group Ltd. acquired the Roslind Park Gas Plant from AGL Limited for $2.5 million in cash, significantly accelerating the path to Carpentaria Pilot Project production and reducing the capital expenditure required to commence gas sales Other Key highlights include: - R&D Tax Offset for FY2022 of $15.6 million in cash received. Proceeds applied to debt reduction and working capital including [...]

Empire Energy Group Ltd. Managing Director Alex Underwood is interviewed by ABN Newswire. Empire Energy is developing a world class hydrocarbon deposit in the Northern Territory of Australia. Mr Underwood talks about the three phases of development of the field, with the core immediate focus on delivery energy through existing pipeline infrastructure, with a view to expanding delivery to the East Coast of Australia. My [...]

Empire Energy Group Ltd. has acquired AGL Limited's RPGP for $2.5 million in cash, significantly accelerating the path to Pilot Project gas production. The cash consideration was funded from Empire's existing cash at bank. Comments from Managing Director Alex Underwood: "This is a material development for Empire, its shareholders and all stakeholders involved in the development of the Beetaloo Sub-basin, and the [...]