Chairman's Address to General Meeting
Sydney, Aug 3, 2021 AEST (ABN Newswire) - These are positive times for Empire Energy Group Ltd (
ASX:EEG) (EEGUF:OTCMKTS) and its place in the energy markets. The matters before Empire, to include Pangaea and EMG, take us a significant step forward towards our objectives in the Beetaloo and McArthur Basins in the Northern Territory. We are now, based on the gas and liquids bearing properties of Empire and after the meeting today, Pangaea Resources and EMG, en-route to expanded development and planned commercial production.
Managing Director Alex Underwood will present today all this in detail.
Critical strengths of Empire (including Pangaea and EMG) are:
- Significant resources;
- Access to markets and proximity to key infrastructure; and
- Broad support from Australian and Northern Territory governments for the enhancement of the nation's transitional energy resources. The Federal Government's Beetaloo Cooperative Drilling Program will be a significant catalyst to the early development of these gas and liquids resources in the Northern Territory.
Other aspects of progress in Empire recently are the reinforcement of the balance sheet, shareholder base, Board and management. Together with the engagement of world class contractors and consultants in our drilling and development programmes, Empire is now attracting wider attention and support as it matures and proceeds to its next ambitious targets. The approval of shareholders today to the completion of the Pangaea and EMG transactions will reinforce this.
To view the Managing Director's Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-EEG-2A1313461.pdf
About Beetaloo Energy Australia Limited
Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) holds 28.9 million acres of highly prospective exploration tenements in the McArthur Basin and Beetaloo Sub-basins, Northern Territory. Work undertaken by the Company since 2010 demonstrates that the Eastern depositional Trough of the McArthur Basin, of which the Company holds around 80%, has enormous conventional and unconventional hydrocarbon potential. The Beetaloo Sub-basin, in which Beetaloo Energy holds a substantial position, has world-class hydrocarbon volumes in place and a ramp up in industry activity to appraise substantial discoveries already made by major Australian oil and gas operators is ongoing.
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