EEGUF - Empire Energy talks $15.6 million R&D refund and commercial initiatives
(NewsDirect)
Empire Energy GroupLtd (ASX:EEG, OTC:EEGUF) MD Alex Underwood tells Proactive the companyhas strengthened its balance sheet with a A$15.6 million research anddevelopment (R&D) tax offset from the Australian Government,designed to encourage companies to pursue R&D activities andfacilitate innovation. The scheme entitles companies with an aggregateglobal turnover of less than A$20 million to access a refundable taxoffset of 43.5% of eligible expenditure on eligible R&Dactivities. Underwood also updates on strategy for project financingand offtake options for its gas.
"The Empire team is pleased to have receivedthis R&D tax offset as it positions us to focus on completing thePilot Project final investment decision (FID) process,” Underwoodsaid.
“We aremaking material progress on the Pilot Project, advancing fielddevelopment planning, including identifying locations for and thedesign of development wells and surface facilities, pipeline accessnegotiations, a formal gas sales marketing process, regulatory andindigenous approvals, and planning for projectfinancing.”
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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