For interest.Comments from the MD following previous $ 30...

For interest.
Comments from the MD following previous $ 30 Million capital raise in April 2021

Comments from Managing Director Alex Underwood:

“The strong level of support we have received for this capital raise from existing and new institutional and sophisticated investors is greatly appreciated.

The capital raise proceeds will complement Empire’s ~$11 million cash at bank which is earmarked for our Beetaloo growth activities. Empire is now fully funded to complete the acquisition of the Pangaea Beetaloo assets, the vertical fracture stimulation and flow testing of Carpentaria-1 planned for this Quarter, and to execute fracture stimulated horizontal appraisal drilling. These activities are critical steps in our rapid commercialisation plan which positions Empire to be the first operator in the basin to commence commercial production.”