Empire Energy Investing in Tasmania
Empire Energy Corporation International announced today that its wholly owned subsidiary Great South Land Minerals, Ltd. (GSLM) has reported over AUD$24 Million in expenditures which exceeds the 10-year expenditure requirement specified in the license requirements of Special Exploration License (SEL) 13/98 in Tasmania. GSLM also plans to commit an additional estimated AUD$6 Million in this quarter for a 1,400 Km regional seismic survey planned to commence in November 2005. This should bring the total expenditure to meet the license conditions to over AUD$30 Million since SEL 13/98 was granted in 1998.
Empire also confirmed the completion & SEC filing of the Company's first consolidated quarterly report for the period ending June 30, 2005.
Malcolm Bendall, President of Empire and GSLM said, "The filing of
the first consolidated accounts of Empire and the approval of
increased share capital provides a way forward for the company to
further pursue exploration activities associated with the exploitation
and proving of commercial oil & gas reserves within the Tasmania
- Empire O&G Plans Remedial Solutions at RGN-1 Well in WA's Perth Basin (Jun 17)
- Mineral Resources Becomes Key Shareholder of Australia's Empire Oil & Gas (Jun 15)
- Empire Completes Testing Program at RGN-1 Well in WA's Permit EP 389 (Apr 26)