Empire Energy (ASX:EEG) - Technical Analysis & Due Diligence

Interview with Alex Underwood, MD & CEO of Empire Energy Group Ltd.Our previous interview: https://www.cruxinvestor.com/posts/empire-energy-asxeeg-pilot-study-advancing-as-resource-grows-3312Recording date: 4th October 2023Empire Energy Group Limited (ASX: EEG) is an oil and gas exploration and production company focused on the development of the Beetaloo Sub-basin in Australia's Northern Territory. The company holds a large acreage position across the basin, with contingent resources of 1,906 petajoules (PJ) of gas and 3.5 million barrels of liquids.Empire's key project is the Carpentaria play in the eastern part of the Beetaloo basin, where the company has drilled 4 wells that have successfully flowed gas. Carpentaria has a 2C contingent resource of 1,739 PJ of gas and a prospective resource of over 3,500 PJ. Empire is moving towards pilot production at Carpentaria, targeting first gas in 2024.In the western Beetaloo basin, Empire holds over 1 million acres with prospective resources of 28,000 PJ. The company plans further seismic and drilling to appraise this large position.The Beetaloo basin is considered one of the most promising shale gas basins globally, with over 500 trillion cubic feet of gas in place according to government estimates. Empire is well positioned in the basin and is advancing development plans to supply domestic and export markets. With a large resource base, progressing field development, and upcoming pilot production, Empire offers significant upside potential for investors.View Empire Energy's Company Profile: https://www.cruxinvestor.com/companies/empire-energy-group

There are no comments yet.

Please log in to write the first comment.