Empire Energy Group Limited (AU:EEG) has released an update.
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Empire Energy Group Limited has secured a significant long-term deal to supply up to 25 Terajoules of gas daily to the Northern Territory Government, starting in 2025 for a decade, with the option to extend and increase supply. The company has also strengthened its financial standing, raising $46.8 million and repaying debts following the sale of its US assets, positioning itself as a Beetaloo/McArthur Basin-focused entity with a robust cash reserve of $51.6 million. These strategic moves, coupled with the planned drilling of Carpentaria-5H, fortify Empire’s commitment to contributing to Australia’s energy security.
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