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gov grants exploration permits

  1. 1,148 Posts.
    26 February 2008
    Australian Securities Exchange Limited
    Company Announcements Office
    Level 4
    20 Bridge Street
    SYDNEY NSW 2000
    Dear Sirs
    RE: EMPIRE OIL & GAS N.L. ANNOUNCES THE STATE GOVERNMENT�S GRANT OF
    CARNARVON BASIN APPLICATIONS 5/06-7 AND 6/06-7 AS EP 460 AND EP 461
    RESPECTIVELY AS OF 21 FEBRUARY 2008
    Please find details of the grant of Petroleum Exploration Permit Applications 5/06-7 and 6/06-7 as EP 460
    and EP 461, to Rough Range Oil Pty Ltd.
    The Star Finch-1 well will be drilled in EP 460 and the Lake MacLeod-1 well will be sited in EP 461 adjacent
    EP 439. The new petroleum permits EP 460 and EP 461 take in the extent of the Lake MacLeod Structure
    and also allow for similar Star Finch type structures to be mapped in both EP 460, EP 461 and the EP 439
    permits.
    The participants in the wells are:
    Company EP 439 and new
    permit EP 461
    New permit
    EP 460
    Empire Oil & Gas N.L. 30.356% 22.856%
    (Rough Range Oil Pty Ltd)
    Longreach Oil Limited 9.352% 9.352%
    Indigo Oil Pty Ltd 4.676% 4.676%
    Falcore Pty Ltd 2.596% 2.596%
    Vigilant Oil Pty Ltd 0.52% 0.52%
    Jurassica Oil & Gas Plc 35.00% 40.00%
    Black Fire Energy Limited 7.50% 0.00%
    DVM International Limited 10.00% 20.00%
    Yours faithfully
    JL CRAIG MARSHALL
    Managing Director
    EMPIRE OIL & GAS N.L.
    EMPIRE OIL & GAS N.L.
    STOCK EXCHANGE RELEASE
    26 February 2008
    EMPIRE OIL & GAS N.L. ANNOUNCES THE STATE GOVERNMENT�S GRANT OF
    CARNARVON BASIN APPLICATIONS 5/06-7 AND 6/06-7 AS EP 460 AND EP 461
    AS OF 21 FEBRUARY 2008
    Empire Oil & Gas N.L. is pleased to announce that its wholly-owned subsidiary Rough Range Oil
    Pty Ltd has satisfactorily settled all native title negotiations regarding its Petroleum Exploration
    Permit Applications 5/06-7 and 6/06-7 with the new permits granted as Petroleum Exploration
    Permits EP 460 and EP 461 by the Western Australian Department of Industry and Resources
    as of 21 February 2008 for an initial First Term Period of 6 years.
    The EP 460 and 461 permits are located in the Carnarvon Basin, Western Australia.
    Lake MacLeod is estimated to have up to 150 million barrels of recoverable oil, if oil is present
    and the structure is filled to its maximum possible spill point.
    Assuming Star Finch is gas bearing with a 5 metre oil column, estimated potential recoverable
    reserves are of the order of 50 billion feet of gas and 25 million barrels of oil.
    For fur ther informat ion, please contact :
    Mr Craig Marshal l
    BSc (Hons), F.Aus. IMM, CPGeo
    Managing Di rector
    Empi re Oi l & Gas NL
    Sui te 7
    154 Hampden Road
    NEDLANDS WA 6009
    Phone: 61 8 6389 2687
    Facsimi le: 61 8 9386 6812
    E-mai l : [email protected]
 
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