The grant of the EP 430 permit together with the EP 426 permit granted pursuant to Application 3/02-3 on July 16, 2004 is a result of the settlement of Native Title Agreements of all of the Company's Perth Basin applications for Petroleum Permits.
The Company is also due to be granted Application 5/98-9 and 4/02-3, also located in the Onshore North Perth Basin, by the Western Australia State Government. Empire Oil & Gas N.L. has 100% equity in all of its onshore Perth Basin permits and permit applications. The North Perth Basin is one of the most prospective and productive onshore basins in Australia with several companies now evaluating venture participation with Empire to explore these Perth Basin permit areas.
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