Empire Energy (ASX:EEG) has officially kicked off drilling at its Carpentaria project in the NT straddling the Beetaloo Basin.

Results will be closely watched – the Beetaloo Basin is potentially Australia’s next big gas field, and, long a staple of the NT government’s desires to see the Top End become a resource powerhouse in its own right.

Currently, the NT’s – or Darwin’s – best known gas asset is INPEX’s offshore development called Ichthys.

The NT has had in place a “Territory Gas Plan” since mid-2023, though the introduction of the new Country Liberal state government since then could see that plan shaken up.

At the same time, it’s a clear bipartisan winner – jobs and growth – suggesting the Beetaloo will likely remain of hot interest.

And that all, of course, depends on Empire Energy hitting concentrations of gas underground that the market likes.

Drill bits started turning over the weekend on Saturday and the company anticipates a slow and steady run – its first well, Carpentaria-5H (C-5H), will take some 45 days to complete.

C-5H will form part of a larger pilot project which is intended, zooming out, to act as a test of concept over at least one element of the NT’s Beetaloo Basin.

All cards in order, the company sees gas sales kicking off next year.

“This well will be our first full-scale pilot development well, incorporating learning from the four wells that have previously been drilled successfully in EP187,” EEG MD Alex Underwood said.

“Our planning for the installation of the Carpentaria Gas Plant is progressing with a goal of commencing the sale of gas from EP187 in 2025.”

EEG last traded at 20cps.

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