Empire Energy Group Ltd: Quarterly Activities Report - 31 March

Sydney, Australia - Empire Energy Group Ltd.'s (ASX:EEG) (OTCMKTS:EEGUF) focus through the Quarter has been planning for the hydraulic stimulation of Carpentaria-5H, which is scheduled to take place later this Quarter, and preparation for installation of the Carpentaria Gas Plant in accordance with the Company's goal to commence gas sales from EP187.

- NLC meeting for the consideration of approval of Beneficial Use of Gas to take place in mid-May

- Documentation of the Macquarie Midstream Infrastructure Facility completed shortly after Quarter end. Funds under this facility will be applied to the construction of the Carpentaria Gas Plant and associated in-field infrastructure

- Total liquidity available at the end of the Quarter was $32.2 million, comprised of cash of $14.4 million and $17.8 million of undrawn funding available under the Macquarie facilities

Comments from Managing Director Alex Underwood:

"The Empire team has focused on preparation for the fracture stimulation and flow testing of C-5H during the Quarter. We look forward to commencing stimulation in June utilizing the Halliburton fracture stimulation spread. While we would have preferred to stimulate C-5H immediately after drilling operations in January, we determined that the financial risk to shareholders of weather-related delays outweighed the benefit of stimulation operations at that time. The delay in stimulation to June has given our technical team the time to prepare an optimised stimulation design.

We are well advanced in our final regulatory approvals for the sale of gas under the Beneficial Use of Gas provisions of the NT Petroleum Act. I and key members of the team have been actively engaging with senior traditional owners in preparation for the upcoming on country meeting at which we will seek their approval for the commencement of gas sales. I believe that the meeting will be successful based on our ongoing engagement with traditional owners.

The Company's Annual General Meeting will take place at the end of May. I encourage all shareholders to either attend the meeting or, if they cannot attend in person, to submit their proxies for this important meeting. Of particular relevance, the Company will seek shareholders' approval to change the Company's name to Beetaloo Energy Australia Limited. This change reflects our singular focus on developing the world class resources of the Beetaloo Basin, following the successful completion of our US asset divestiture program last year."

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About Empire Energy Group Ltd:

Empire Energy (ASX:EEG) (OTCMKTS:EEGUF) is a Sydney based Australian oil and gas company holding 100%-owned and operated assets with unconventional targets in the Northern Territory Beetaloo Sub-basin and central trough of the McArthur Basin.

Empire is an active Beetaloo Sub-basin operator, focused on maturing its assets to production. Following the successful appraisal drilling and flow testing of the Carpentaria-2H and 3H wells in Empire's EP187, Empire is targeting first gas flow in H1 2025 at its Carpentaria Pilot Project. The Pilot has a targeted sales gas rate of up to 25 TJ per day utilising the existing McArthur River Pipeline.

Source:
Empire Energy Group Ltd

Contact:

Empire Energy Group Ltd E: info@empiregp.net T: +61-2-9251-1846 F: +61-2-9251-0244 WWW: www.empireenergygroup.net