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12.0¢ empire oil & gas nl

Report is a little misleading, page-17

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Surandy70

11,065 Posts.

1829

04/09/14

20:37

Post #: 13927045
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I've re-read the announcement and cannot see any mention, reference, hint or otherwise of ERM retaining any interest in EP432 and/or EP454. In fact the wording is inclusive of them being included in there entirety in this corporate transaction.

The interests Empire is purchasing

Under the agreement, Empire will purchase from ERM its 23.61 per cent interest in EP 389, which includes Red Gully and the Wannamal Exploration prospects, its 30.87 per cent interest in EP 4262 which includes the North Erregulla prospect, its 13.88 per cent interest in EP 4322, which includes the Black Arrow prospect, its 5.56 per cent interest in EP 4162 which includes the Leschenault prospect, its 12.5 per cent stake in EP 440, its 50 per cent stake in EP 454 which includes the Charger and Garibaldi prospects, its 60 per cent interest in EP 480, its 100 per cent interest in EP 467 and its 21.25 per cent interest in Cattamarra Farms Pty Ltd (which owns the land that the Red Gully Facility and Gingin West-1 and Red Gully-1 wells are located on).

This transaction will leave Empire as the 100 per cent owner and operator of all these tenements, except for EP 426, in which Norwest Energy NL has a 22.22 per cent interest1.

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EGO Price at posting: 0.8¢ Sentiment: None Disclosure: Held
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