Empire Energy Group (EEG)

Shares / Stock Code

EEG

Stock Exchange / Sharemarket

ax

Empire Energy Group (EEG), formerly Imperial Corporation, is an oil and gas exploration and development company. The company is focused on onshore oil and gas fields in the United States. Empire Energy Group's operations are through its 92% owned the United States subsidiary Empire Energy (USA) LLC, which was established as the parent vehicle for Empire Energy E&P, LLC. The company has operations in Mid Continental and Appalachia, through Empire Energy (USA) LLC. Its subsidiary also includes Imperial Oil and Gas Pty Ltd. Imperial Oil and Gas Pty Ltd commenced the screening of onshore basins in Australia principally for shale gas exploration. In December 2010, the company acquired around 20,000 acres, mostly HBP, holding around 268 producing oil wells, and an area consisting of 17,000 acres of non-operated oil leases. On July 2, 2010, it Empire Energy sold approximately 5,800 acres of shale rights.

EEG Strategy

• Opportunistic upstream acquisitions based on Empire 'pricing metrics'
• Target production assets with attached low risk development
• Implement field data flow leading to smarter management
• Efficient leverage of US$150 million commercial credit facility
• Low cost, technology focused operator
• Balanced exploration exposure