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Empire Energy Group (ASX:EEG) - CEO & Managing Director, Alex Underwood - The Market Herald
CEO & Managing Director, Alex Underwood
Source: The Market Herald
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  • Empire Energy Group (EEG) has begun drilling at the Carpentaria-1 well within permit EP187 in the Northern Territory
  • The well will be drilled to 2900 metres, enabling Empire's technical team to fully evaluate the Velkerri and Kyalla targets
  • Work will also aim to understand the rock properties and hydrocarbon content and determine prospective hydrocarbon resource estimates
  • Drilling is expected to take 40 days and, once completed, the well will be cased and suspended while the results are analysed and a flow testing program is planned
  • Empire is up 4.92 per cent and shares are trading for 32 cents each nearing market close

Empire Energy Group (EEG) has begun drilling at the Carpentaria-1 well within permit EP187 in the Northern Territory.

The well will be drilled to 2900 metres, enabling Empire's technical team to fully evaluate the Velkerri and Kyalla unconventional shale targets.

Work will also aim to understand the rock properties and hydrocarbon content, gather data to be used for hydraulic stimulation planning, and determine prospective hydrocarbon resource estimates.

Independent assessment by Netherland, Sewell and Associates has outlined a current best estimate prospective resource of 2.4 trillion cubic feet of gas equivalent.

Drilling is expected to take 40 days and, once completed, the well will be cased and suspended while the results are analysed and a flow testing program is planned.

Updates will be provided as work progresses.

Empire is up 4.92 per cent and shares are trading for 32 cents each at 3:48 pm AEST.

EEG by the numbers
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