Empire subsidiary Imperial Oil & Gas has executed three grant agreements with the Australian Government under the Beetaloo Cooperative Drilling Program in the Northern Territory.
The grants will facilitate an acceleration of work program activities and offset 25 per cent of the cost of seismic acquisition, drilling and flow testing.
The three horizontal appraisal wells are in the wholly Empire-owned EP187 tenement, located in the Beetaloo Sub-basin.
Approvals relate to civil construction and seismic surveys in preparation for the upcoming horizontal appraisal drilling and fracture stimulation programs, for which activities will commence in the coming days.
Approval for the drilling and fracture components are expected in coming weeks.
Subject to appraisal success and the future award of production licenses, these wells will become production wells, consistent with Empire’s rapid commercialisation strategy.
For more information visit the Empire Energy website.