Empire's Unit Acquires Full Stake in EP184 in Northern Territory
Empire Energy Group Limited announced that The Minister for Mines and Energy has formally granted Exploration Permit EP184 in Northern Territory, Australia to its 100 percent owned subsidiary Imperial Oil & Gas Pty Ltd. Grant of EP184 follows the signing of an Exploration Agreement by Imperial, Aboriginal Native Title Claimants and the Northern Land Council June 14. EP184 is located in the highly petroleum prospective central trough of the McArthur Basin south of the Roper River.
The permit is granted for an initial period of five years over which Imperial Oil & Gas Pty Ltd will be required to meet a number of minimum work requirements including:
- Geological and Geophysical Studies
- Drilling of a test well
- Drilling of a horizontal well
Exploration Permit EP 184
The successful grant of EP184 is the first from Imperial’s seven application areas that collectively cover 22,846 square miles (59,172 square kilometers) of petroleum prospective acreage.
The Permit grant now allows for the commencement of on-ground petroleum exploration activities over the 4,328 square miles (11,210 square kilometers) License.
The principal targets for EP184 is unconventional and conventional oil and gas sourced from Palaeo-Proterozoic age black carbonaceous shales of the Barney Creek and equivalent formations.
Over the past 15 months the Company has undertaken a comprehensive analysis of existing regional core. Close to 900 individual core samples have been analyzed and results for TOC percentage, Tmax, Ro, S1, S2, porosity and other measurements are now being correlated. Supported by the results from the Glyde-1 well, located immediately to the east and contiguous with EP184, (drilled in 2012 the well produced 3.3 million cubic feet of gas per day from the same black shales) analysis of the core results, along with previous analytical work undertaken by others, a significant petroleum system has been generated by the Barney Creek and other equivalent black shale formations. Preliminary results of these studies are expected to be available in the short term.
For some months, the Company has been preparing for the implementation of its exploration operations in the region. Due to the delay in the issue of the license, the proposed seismic program will now commence in the early stages of the 2014 dry season. This initial seismic program is to undertake approximately 97 miles (156 kilometers) of 2D seismic data to confirm:
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Empire, AEGP Still in Talks to Close Deal for NT Petroleum Tenements (Apr 22)
- FIRB Clears AEGP to Farm-in to Empire Energy's NT Petroleum Tenements (Feb 10)
- Imperial Seals $75M Deal to Farm-out Australia's NT Tenements to AEP (Dec 24)