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    Empire gets A$1.82mn under Australia's Beetaloo programme

Summary

Further cash receipts are expected to be received as Empire’s work programme activities are progressed under its grant agreements with the Australian government.

by: Shardul Sharma

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Empire gets A$1.82mn under Australia's Beetaloo programme

Sydney-listed Empire Energy has received A$1.82mn ($1.3mn) in cash under the Australian government’s Beetaloo Cooperative Drilling Programme, it said on May 18.

“The funds received represent reimbursement of past capital expenditures and will be applied to the forthcoming Carpentaria-2H (C-2H) stimulation and extended production test. Further cash receipts are expected to be received as Empire’s work programme activities are progressed under its grant agreements with the Australian government, including for some work that has already been completed,” the company said.

Empire said it is completing preparations for the hydraulic stimulation and extended production test of C-2H. Hydraulic stimulation of C-2H is expected to start around the end of June 2022.

“The work at C-2H aligns with Empire’s rapid commercialisation strategy to deliver gas volumes into existing infrastructure,” it said.