Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Empire Energy Group Inks Native Title Agreement For NT Oil And Gas Exploration 0 comments
    Jun 17, 2013 2:02 AM

    Empire Energy Group (ASX:EEG), through its wholly owned subsidiary Imperial Oil & Gas, has signed an Exploration Agreement with Aboriginal Native Title Claimants and the Northern Land Council covering its petroleum exploration area EPA 184 in the Northern Territory.

    The EPA 184 exploration area covers 11,220 square kilometres of highly petroleum prospective Urapunga region in the central trough of the McArthur Basin south of the Roper River.

    The principal target is unconventional and conventional oil & gas sourced from Palaeo-Proterozoic age black carbonaceous shales of the Barney Creek and equivalent formations.

    With the Native Title agreement in place, the relevant Northern Territory government authorities are required to complete their formalities and endorse the proposed exploration program before the permit is granted.

    The exploration permit is likely to be granted next month after which Imperial will start its exploration program. As part of its exploration plan, Imperial will conduct geological field studies including outcrop sampling and analysis of target black shale and associated formation in the area.

    2D seismic data will also be acquired across the northern part of EPA 184, which is aimed to characterise the subsurface basin architecture and constrain the depth and thickness of the target black shale formations.

    A successful grant of an exploration permit over EPA 184 will be the first from Imperial's seven permit applications that total about 14.6 million acres.

    Of note is that the EPA 184 is close to Armour Energy's (ASX: AJQ) Glyde-1 well that flowed gas last year at a rate of 3.3 million cubic feet per day during testing and the Cow Lagoon-1 well, which flared gas.

    The McArthur Basin contains a large scale shale oil and gas exploration play in the Barney Creek Formation, which is up to 900 metres thick.

    Empire Energy has previously noted the uniformity of this shale formation, which in light of the strong gas flows from Glyde-1, make it likely that commercial gas flows are possible throughout the Batten Trough of the Basin.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.