February 2, 2020 - 5:26 PM EST
Print Email Article Font Down Font Up Charts

Empire Energy Group Ltd (EEGUF) Quarterly Activities Report
Sydney, Australia (ABN Newswire) - Empire Energy Group Limited (ASX:EEG) (OTCMKTS:EEGUF) is pleased to provide shareholders with its Quarterly Activity Report for the period ending 31 December 2019.

Activity Report for the Quarter ended December 2019


- Empire's newly acquired, processed, and interpreted 2D seismic confirms a material Beetaloo Basin acreage position wholly owned by Empire

- Empire EP187 2020 exploration drilling approvals well advanced

- Solid US operational performance negatively impacted by low prevailing US gas prices

- US cost reduction measures implemented following Kansas asset sale, resulting in one-off restructuring costs

- Empire in a net cash position for the first time since 2010 following successful completion of A$12 million placement

- Directors of the Company increased their shareholdings during the Quarter

- Research coverage initiated on Empire

- Santos vertical Tanumbirini-1 well production testing results above expectations

- Origin horizontal Kyalla 117 N2 1H well drilling advanced

To view the quarterly report, please visit:

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.


Empire Energy Group Ltd


Empire Energy Group Ltd
E: [email protected]
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net


Source: ABN/Asia Business Newswire (February 2, 2020 - 5:26 PM EST)

News by QuoteMedia

Legal Notice