bullish
Empire Energy Group Ltd - ...and we're off! Carpentaria-5H has spudded
SUMMARY
- RaaS Research Group has published an update report on NT-focused gas explorer/producer Empire Energy Group (ASX:EEG) following the recent announcements that it has secured regulatory approvals for its Environmental Management Plan and Carpentaria-5H has spudded with drilling.
- With the commencement of drilling, our confidence in the timing to first gas production is rising.
- The company is targeting a drill-stimulate-test (IP30) result by around end Q1 CY25 which should maintain the timeline to first gas in H2 2025.
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