Empire Energy Group Ltd: Share Purchase Plan Offer Opens

Sydney, Australia - Empire Energy Group Ltd. (ASX:EEG) (OTCMKTS:EEGUF) is pleased to announce the opening today, 23 May 2025, of the Empire Share Purchase Plan Offer (SPP Offer) to raise up to $3 million.

The launch of the SPP Offer follows the successful completion of a placement to institutional and sophisticated investors at an issue price of A$0.16 per share to raise $27.75 million (before costs) (Institutional Placement), as announced on 16 May 2025.

Shareholders on Empire's register with a registered address in Australia and New Zealand as at 7.00pm (Sydney time) on Thursday, 15 May 2025 will be eligible to participate in the SPP Offer. Shareholders who hold shares on behalf of, or who act for the account or benefit of, persons who reside outside Australia or New Zealand including persons who are in the United States, are not entitled to participate in the SPP Offer.

Eligible Shareholders have the opportunity to subscribe for up to $30,000 fully paid, ordinary shares in Empire (New Shares) at an issue price of $0.16 per New Share (being the same price paid by investors in the Institutional Placement), without incurring any brokerage costs or other transactions costs.

Subject to shareholder approval, participants under the Institutional Placement will be issued one attaching unlisted option for every two New Shares subscribed for (Attaching Options). The Attaching Options will be exercisable at $0.24 and expire two years from the date of allotment. It is intended that, subject to shareholder approval, participants in the SPP will also be entitled to receive Attaching Options on the same terms as the Institutional Placement.

The offer and issue of Attaching Options to investors under the Placement and SPP will be made under a prospectus to be issued by Empire in due course.

To view the terms and conditions of the offer of New Shares under the SPP Offer are set out in the SPP Booklet, please visit:
https://abnnewswire.net/lnk/7909RY9O

About Empire Energy Group Ltd:

Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) is a Sydney based Australian oil and gas company holding 100%-owned and operated assets with unconventional targets in the Northern Territory Beetaloo Sub-basin and central trough of the McArthur Basin.

Empire is an active Beetaloo Sub-basin operator, focused on maturing its assets to production. Following the successful appraisal drilling and flow testing of the Carpentaria-2H and 3H wells in Empire's EP187, Empire is targeting first gas flow in H1 2025 at its Carpentaria Pilot Project. The Pilot has a targeted sales gas rate of up to 25 TJ per day utilising the existing McArthur River Pipeline.

Source:
Empire Energy Group Ltd

Contact:

Empire Energy Group Ltd E: info@empiregp.net T: +61-2-9251-1846 F: +61-2-9251-0244 WWW: www.empireenergygroup.net