Beetaloo Operations Update
Sydney, July 13, 2022 AEST (ABN Newswire) - Empire Energy Group Limited (
ASX:EEG) (EEGUF:OTCMKTS) is pleased to advise that the fracture stimulation of Carpentaria-2H ("C-2H") has commenced. C-2H is located in Empire's 100% owned and operated EP187 Beetaloo Sub-basin acreage. The first of 25 planned stages across the horizontal section has been successfully pumped within the Velkerri B Shale.
As previously announced, the stimulation has been designed to utilise several fluid mixes to assess which design results in the best production performance to enhance Beetaloo specific completion designs. The C-2H well production test will also provide an early production type curve and a better understanding of gas composition for development planning.
A period of flowback of hydraulic stimulation fluids is anticipated prior to gas production as each of the treated stages progressively cleans up. Empire will then undertake an extended production test for up to 90 days.
Empire remains on track to drill the Carpentaria-4V vertical well in the Carpentaria East area of EP187 and drill, hydraulically stimulate and flow test the Carpentaria-3H horizontal well on the same well pad as Carpentaria-2H later this year.
Empire is well funded for this active program following the recent placement with current cash at bank of $43.9 million (excluding Share Purchase Plan proceeds which will be determined in the coming days).
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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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