12/04/2024 - 13:14

Empire cashes out of US assets to focus on Beetaloo gas production

12/04/2024 - 13:14


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Empire Energy will pay down its US debt to Macquarie and put a bit over A$3m in the tin to chase gas in the Northern Territory’s Beetaloo basin after offloading its US oil and gas assets for about A$14 million. The company is poised to take on the Australian east coast gas supply dilemma with its Beetaloo ground modelled to generate a project net present value for phase two of $2.5 billion and $14.5 billion for phase three.

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