Empire Oil & Gas

Empire Oil & Gas reported encouraging test data from its solely owned Red Gully North-1 discovery well in permit EP 389 in Western Australia. Test results from the Cattamarra C and Upper D intervals yielded an estimate of 7.5 PJ (1.2 quadrillion BOE) of contingent gas resources, which are potentially recoverable but sub-commercial because of business and/or technological hurdles. Testing of the Lower D interval indicated a sandstone of very low permeability that is unable to flow commercial quantities of gas and condensate. The Cattamarra C and Upper D sands are being isolated from a high-water zone and retested.