potential new acquisitions

Once the recent acquisition has been consolidated, Empire Energy will seek additional acquisition opportunities, which will be either bolt on assets to the existing two operations at Mayville, New York and Hawthorne, Pennsylvania, or will be to increase Empire Energys exposure in the oil sector, either in the Appalachian Basin or elsewhere in North America. As with current operations, any future acquisition will be under the operation of Empire Energy.



With Empire Energy still retaining a substantial portion of its US$100 million Macquarie Bank credit facility, a further similar sized acquisition will develop the company into a medium sized energy producer by Australian Standards.