Published:
Empire Signs Back to Site Agreement with Hunt Energy Drilling, Orders Independent Report by RPS to Further Validate U.S. $3.3 Billion WHK Valuation and Publishes Final Report on SEL 13/98
LEAWOOD, Kan. - (BUSINESS WIRE) - Empire Energy Corp. Intl. (OTC BB: EEGC) has signed Back to Site
Agreement with Hunt Energy Drilling of Australia. In the agreement, Hunt
Energy has agreed to return to the Bellevue drill site which has been
prepared for drilling operations. Malcolm Bendall said, "We welcome the
signing of this agreement with Hunt Energy and look forward to working
together and the commencement of drilling on the Bellevue site."
Empire intends to start drilling at Bellevue and follow with drilling at
the Thunderbolt site. Bellevue and Thunderbolt are the two largest domes
discovered during the extensive exploration efforts by Empire and Great
South Land Minerals (wholly owned subsidiary). Bellevue and Thunderbolt
were identified as areas believed to be capable of containing
substantial commercial quantities of oil and gas.
Empire has re-commissioned RPS Energy (a world leader in oil and gas
valuations) to further evaluate and validate the Bellevue and
Thunderbolt structures to underpin the US$3.3 billion (equal to US$10
per share) asset value determined by WHK and has arranged increased
accommodation availability at Bronte Park to house the additional
workforce needed to complete the work at Bellevue.
The Final Report documenting all work accomplished on SEL 13/98 has been
completed and submitted to Mineral Resources Tasmania. This detailed
document is now at printers to be mailed to Empire shareholders and will
be posted on the Empire Energy websites www.empireenergy.com
and www.gslm.com
for public viewing. Malcolm Bendall, CEO, said, " This report details the
substantial volume of work accomplished by Empire and their wholly owned
subsidiary Great South Land Minerals on the license property and
previous from 1984 - 2009. Empire looks forward to the beginning of
their 15 well drilling program and developing the potential of the vast
Tasmanian Basin for the benefit of Tasmania and the Empire shareholders."
Malcolm Bendall, CEO Empire Energy
Empire Energy Corporation is an international oil and gas exploration
company, focusing on developing assets in one of the world's last virgin
basins and to become a leading low-cost finder of hydrocarbons. The
Company is currently operating in Tasmania's central and northern basins.
This press release contains forward-looking statements based on our
current expectations about our company and our industry. You can
identify these forward-looking statements when you see us using the
words such as "expect," "anticipate," "estimate," "believes," "plans"
and other similar expressions. These forward-looking statements involve
risks and uncertainties. Our actual results could differ materially from
those anticipated in these forward-looking statements as a result of our
ability to complete required financings and other preconditions to the
completion of the transactions described herein and Empire's ability to
successfully acquire reserves and produce its resources among other
issues. We undertake no obligation to publicly update any
forward-looking statements for any reason, even if new information
becomes available or other events occur in the future. We caution you
not to place undue reliance on those statements. For a more detailed
discussion of risks and other factors related to Empire Energy
Corporation International, please refer to 10-K and 10Q reports filed
with the U.S. Securities and Exchange Commission.
Empire Energy Corp. Intl.
Malcolm Bendall, 800-663-2310
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