Empire Energy Corporation International said it has moved to contract for pre-drilling and other site preparation services at two wells on its Tasmanian Basin license area.
Included in these services will be the drilling of two 300-meter holes, at the company's Bellevue and Lackish wells, intended to probe their underlying geologic structure and prepare the foundation for the commencement of full-depth drilling in August.
Empire, through its wholly owned subsidiary Great South Land Minerals Limited (GSLM), has also engaged independent consulting firm RPS Energy to update its Expert Report on the wells, utilizing new seismic and geophysical data gathered last year by GSLM and Terrex Seismic.
The new data, said RPS managing director David Guise, "will be of significant value in maximizing the efficiency and commercial output derived from Empire's full-depth drilling program."
This program, according to a May 6, 2008 analyst report published by Beacon Equity Research, will include drilling eight to fifteen wells believed to hold prospective oil and gas resources valued at $7 to $15 billion.
Several independent expert reports, including one authorized by the Australian government, indicate the strong probability of large oil and natural gas resources existing across wide sections of the Tasmanian Basin.
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