Looks like the share action signifies the commencement!
Cashed up.
Great well readings
Better than the well near it held by the big boys
Govt approval
28 mill in grants from Govt
National govt committed to gas
What's not to love?
Recommencement of Carpentaria-1 EPT Operations
On 16th July 2021, EPT operations at the Carpentaria-1 well were suspended and the vertical well was shut-in due to COVID-related travel restrictions. Empire will reopen the well and restart Extended Production Test (“EPT”) operations on or around 28th September 2021.
The EPT operations are expected to further enhance Empire’s understanding of the relative productivity of each of the Velkerri Formation shale targets (A, B, Intra A/B and C) and thegas composition of produced hydrocarbons. The data collected will inform technical decisions and the optimum placement of the Carpentaria-2H horizontal well, and future horizontal appraisal drilling across EP187.
Empire also intends to enhance the artificial lift system at Carpentaria-1 to better determine the productivity of the Velkerri Formation shales.
The initial Carpentaria-1 vertical well EPT flowed at an instantaneous peak rate of >1.6 mmcf /day and at an averaged flow rate of 0.25 mmcf / day over a 17-day test period, during which time the well was dewatering. The final production rate recorded was 0.25 mmcf / day prior to the shut-in of the well.
EEG Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
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