Empire Energy Kickstarts Carpentaria-5H Well Drilling at Beetaloo Basin; Shares Down 8%

MT Newswires Live

2024/11/18

Empire Energy Group (ASX:EEG) started drilling the Carpentaria-5H well at its Beetaloo Basin permit EP187 in the Northern Territory, according to a Monday filing with the Australian bourse.

Carpentaria-5H will form part of the Carpentaria pilot project, the filing stated. The Carpentaria plant is expected to start selling gas from EP187 in 2025.

Empire Energy's shares were down nearly 8% in recent Monday trade.

Price (AUD): $0.19, Change: $-0.02, Percent Change: -7.50%

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