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Empire Energy Group Limited (ASX:EEG)

ALERT: Price-sensitive ASX Announcement for EEG
Current share price for EEG : $0.185 -0.01 (-5.13%)+
Announcement
Release
17 Jun 2025 9:54AM
Price at Release
$0.195
Full Release
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Summary
Empire Energy Group Limited has announced the commencement of hydraulic stimulation operations at the Carpentaria-5H well in the Beetaloo Sub-basin, marking a significant development milestone. The stimulation, targeting the Velkerri B Shale with up to 20 stages of fracking, aims to assess and optimize gas productivity while leveraging prior operational insights. The project is conducted with strong commitments to safety, environmental stewardship, and stakeholder engagement. Early results from these operations will contribute to future development strategies and the potential commercialization of gas resources from the area, supporting Empire’s ambition to become a leading gas supplier in the region.
Key Points
  • Empire Energy Group Limited (EEG) has announced the commencement of stimulation operations at the Carpentaria-5H well.
  • The Carpentaria-5H well is located in the Beetaloo Sub-basin, Northern Territory, Australia.
  • The stimulation operations are a major milestone in the development of the Carpentaria Project, targeting the Velkerri B Shale.
  • The operations involve hydraulic fracture stimulation (fracking) across up to 20 stages within a horizontal section of the well.
  • The objective is to assess the productivity of the Velkerri B Shale, a key unconventional gas resource.
  • Empire is utilizing lessons learned from previous wells to optimize completion designs and maximize well performance.
  • The Carpentaria-5H well is expected to improve the understanding of gas deliverability and resource potential in the project area.
  • Stimulation operations are being conducted with a strong focus on safety, environmental protection, and community engagement.
  • The results from Carpentaria-5H will inform future development plans and the potential for commercial production.
  • Empire continues to advance its strategy to become a significant supplier of gas from the Beetaloo Sub-basin to Australian and regional markets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.