Empire’s best estimate prospective gas resource for EP187 has increased by 47% to 3.5 TCF
Empire has booked a maiden best estimate prospective condensate resource
of 27 million barrels
Empire has booked a maiden best estimate contingent gas resource of 41 BCF
in the immediate vicinity of the Carpentaria-1 well location
Empire has received Northern Territory Government approvals to carry out hydraulic stimulation and flow testing of the vertical Carpentaria-1 well
Tendering for the hydraulic stimulation and flow testing is well advanced, with
operations expected to commence in Q2 2021
The program will be fully funded from existing cash at bank
Current cash balance is A$12.3 million
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