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
EEG Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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