Empire Energy accelerates path to first sales with new gas plant
Melbourne, Victoria
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December 04, 2023 02:45 PM Eastern Standard Time
Empire Energy Group Ltd (ASX:EEG, OTC:EEGUF) MD Alex Underwood tells Proactive the company has accelerated the path to production at the Carpentaria Pilot Project in the Northern Territory and reduced capital expenditure required to commence gas sales through the acquisition of AGL Ltd’s Rosalind Park Gas Plant (RPGP) for A$2.5 million in cash. The RPGP, which has a design capacity of 42 terajoules per day and supported AGL’s Camden Gas Project until it ceased production in August this year, is a fit-for-purpose facility that has passed Empire’s stringent technical due diligence process.
"The Rosalind Park Gas Plant has been very well managed by AGL during its time processing gas for supply into the Sydney market and meets the specifications Empire requires for processing its low CO2 Beetaloo gas for supply into NT market and Australian East Coast markets from the EP187 Carpentaria Pilot Project, and in future larger scale development scenarios," Underwood said.
"The Empire team continues its hard work progressing towards a final investment decision for the pilot project and is targeting the field installation of the RPGP, drilling of development wells and connection of the project to the McArthur River Pipeline in next year’s dry season, which would result in gas sales commencing in 2025."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
