Key Grant TermsGrant 1 – 25% of the cost of (i) 2D seismic acquisition; (ii) the drilling, fracture stimulation and flow testing of the Carpentaria-2 horizontal appraisal well (excluding the cost of the first 12 fracture stimulation stages and associated cost of horizontal section drilling2) and (iii) well design, fracture stimulation design, procurement, consumables, access track construction, well pad construction, evaporation pond construction, rig mobilisation and fracture stimulation spread mobilisation (collectively “associated activities”), capped at a total grant amount of $6.5m.
Grant 2 – 25% of the cost of the drilling, fracture stimulation and flow testing of the Carpentaria-3 horizontal appraisal well and associated activities, capped at $6.8m.
Grant 3 – 25% of the cost of the drilling, fracture stimulation and flow testing of the Carpentaria-4 horizontal appraisal well and associated activities, capped at $6.0m.
The grants will be used to accelerate Empire’s Beetaloo work programs consistent with the Australian Government’s Beetaloo Strategic Basin Plan. In the success case, the work programs supported by grant funding will facilitate an increase in contingent (i.e. discovered) resources in EP187 and determine commercial flow rates from the Velkerri shale formation within EP187. This would facilitate negotiation of commercial gas sales agreements and award of production licenses.
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