Empire Energy Close to Completing Merger with GSLM
Empire Energy Corporation announced earlier in the year that a Letter of Intent has been executed to merge the Company with Tasmanian (Australia) oil and gas exploration company Great South Land Minerals Limited (GSLM).
Due to the complexity of the international transaction and difficult equity market conditions, the closing has been delayed longer than anticipated. Recently however, a proposed final structure for the transaction has been prepared and is expected to be put to shareholder vote in the first quarter of 2003. Upon closing of the merger, the Company will be re-domiciled in Nevada, be named Empire Energy Corporation International and will retain the NASDAQ OTCBB listing and Corporate headquarters in Overland Park, Kansas.