"Currently Empire Energy is finalising a debt financing facility...

"Currently Empire Energy is finalising a debt financing facility with a major international bank. This proposed facility will enable the existing lender to be repaid and to provide financing for future oil and gas acquisitions as well as to undertake the development of existing gas assets and properties. The Empire Energy strategy and initial acquisition are discussed
below.

The Board believe that once the financing structure is completed, the Company,through its holding in Empire Energy will be in a position to develop as a significant operator in the energy sector"