gov grants exploration permits

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]