Energy Club NT - Empire Energy Group: ASX Announcement

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Empire Energy Group: ASX Announcement

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Empire Energy Group: ASX Announcement

29 May 2023 4:30 PM | Stephanie Berlin (Administrator)

Major EP187 contingent resources upgrade

LNG scale discovered resource delineated in EP187

Successful 2022 Beetaloo work program has resulted in the certification of an LNG scale resource as independently assessed by Netherland, Sewell & Associates, Inc. (“NSAI”) for Empire’s wholly owned and operated EP187

270% increase in 2C Contingent Resources to 1,739 PJ representing an average Estimated Ultimate Recovery (“EUR”) per well of 7.9 PJ

217% increase in 1C Contingent Resources to 304 PJ representing an average EUR per well of 6.2 PJ

129% increase in 3C Contingent Resources to 3,507 PJ representing an average EUR per well of 9.3 PJ

Due to the high calorific value of the Empire’s EP187 gas, NSAI assessed sales volumes in PJ have a higher energy content than equivalent dry gas volumes.

For full ASX announcement, click here.

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