Empire Energy Raises $7 Million Through Share Purchase Plan

Empire Energy Group Limited ( (AU:EEG) ) has issued an update.

Empire Energy Group Limited has successfully completed its Share Purchase Plan (SPP), raising $7 million to fund its Beetaloo Basin appraisal activities. The SPP was upsized to accommodate shareholder interest, with 43,750,041 new shares issued and additional options granted to participants. This financial strengthening positions Empire to advance its Carpentaria Gas Plant construction and commence gas sales, enhancing its operational capabilities and market positioning.

The most recent analyst rating on (AU:EEG) stock is a Buy with a A$0.74 price target. To see the full list of analyst forecasts on Empire Energy Group Limited stock, see the AU:EEG Stock Forecast page.

More about Empire Energy Group Limited

Empire Energy Group Limited operates in the energy sector, focusing on the exploration and development of oil and gas resources. The company is primarily engaged in activities in the Beetaloo Basin, aiming to expand its operations and market presence in the energy industry.

Average Trading Volume: 715,393

Technical Sentiment Signal: Sell

Current Market Cap: A$214.3M

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