Empire Energy Group (ASX:EEG) secured approval from the Northern Territory Government's Department of Lands, Planning and Environment for its environment management plan for the Carpentaria pilot project, according to a Friday filing with the Australian bourse.
The plan provides environmental approvals for the project, including up to nine new wells, installation of the Carpentaria gas plant, and above-ground process facilities with access to the McArthur River Pipeline for the export of gas, the filing said.
The project requires the final major approval for the sale of gas under the Beneficial Use of Test Gas provisions of the NT Petroleum Act, according to the filing.
Shares fell 5% in afternoon trade Monday.
Price (AUD): $0.19, Change: $-0.01, Percent Change: -5.00%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.