EEGUF - Empire Energy accelerates path to first sales with new gas plant
(NewsDirect)
Empire Energy GroupLtd (ASX:EEG, OTC:EEGUF) MD Alex Underwood tells Proactive the companyhas accelerated the path to production at the Carpentaria PilotProject in the Northern Territory and reduced capital expenditurerequired to commence gas sales through the acquisition of AGL Ltd’sRosalind Park Gas Plant (RPGP) for A$2.5 million in cash. The RPGP,which has a design capacity of 42 terajoules per day and supportedAGL’s Camden Gas Project until it ceased production in August thisyear, is a fit-for-purpose facility that has passed Empire’sstringent technical due diligence process.
"The Rosalind Park Gas Plant has beenvery well managed by AGL during its time processing gas for supplyinto the Sydney market and meets the specifications Empire requiresfor processing its low CO2 Beetaloo gas for supply into NT market andAustralian East Coast markets from the EP187 Carpentaria PilotProject, and in future larger scale development scenarios,"Underwood said.
"The Empire team continues its hard work progressingtowards a final investment decision for the pilot project and istargeting the field installation of the RPGP, drilling of developmentwells and connection of the project to the McArthur River Pipeline innext year’s dry season, which would result in gas sales commencingin 2025."
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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