Total
0
Shares
Empire Energy Group (ASX:EEG) - CEO & Managing Director, Alex Underwood - The Market Herald
CEO & Managing Director, Alex Underwood
Source: HotCopper
  • 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.


Subscribe


EEG by the numbers
More From The Market Herald
Redflow (ASX:RFX) - Managing Director & CEO, Tim Harris - The Market Herald

" Redflow (ASX:RFX) finally completes capital raise and nets $6.9M

Redflow (RFX) has finally completed a capital raise announced five months ago, walking away with $6.9 million in additional funds.
Déjà vu: Jupiter Energy (ASX:JPR) shares surge on quarterly report

" Déjà vu: Jupiter Energy (ASX:JPR) shares surge on quarterly report

Jupiter Energy (JPR) is surging once more on the ASX today following the release of the company’s latest quarterly financial report.
Karoon Energy seals Tullow farm-out for Marina prospect

" Karoon Energy (ASX:KAR) one step closer to snap up Baúna oilfield

Karoon Energy (KAR) has moved one step closer to finalising its purchase of the Baúna oilfield assets, located in the Santos Basin of
Elixir Energy (ASX:EXR) ramps up Mongolian exploration

" Elixir Energy (ASX:EXR) ramps up Mongolian exploration

Elixir Energy (EXR) is ramping up works at its fully owned Nomgon IX coal-bed methane (CBM) production sharing contract (PSC) in Mongolia.