Empire Energy Group (ASX: EEG) has successfully raised AU$46.8 million through a two-tranche placement and sale of royalty interests, with significant investments from Bryan Sheffield and Liberty Energy. The capital will fund the drilling of a 3km horizontal pilot well and the development of surface facilities at the Carpentaria Pilot Project in EP187.
Both Sheffield and Liberty invested approximately AU$7.7 million each in the placement, demonstrating strong confidence in Empire's future. Additionally, Daly Waters and Liberty acquired a 2.25% royalty in EP187 for another AU$7.7 million. Empire aims to start gas production and sales by 2025, a development anticipated to substantially benefit the Northern Territory market. This financial injection, supported by new and existing investors, positions Empire to advance from exploration to production, leveraging Liberty’s expertise in hydraulic fracture stimulation and engineering.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
