Member Info for Thij

Https://www.investi.com.au/api/announcements/tbn/5a346b5d-647.pdf

Nev1949. Page 7 there is a map of the area.

LNG SCALE DISCOVERED RESOURCE DELINEATED IN EP187

• Successful 2022 Beetaloo work program has resulted in the certification of an LNG scale resource as independently assessed by Netherland, Sewell & Associates, Inc. (“NSAI”) for Empire’s wholly owned and operated EP187:

o 270% increase in 2C Contingent Resources to 1,739 PJ representing an average Estimated Ultimate Recovery (“EUR”) per well of 7.9 PJ

o 217% increase in 1C Contingent Resources to 304 PJ representing an average EUR per well of 6.2 PJ

o 129% increase in 3C Contingent Resources to 3,507 PJ representing an average EUR per well of 9.3 PJ

• Due to the high calorific value of the Empire’s EP187 gas, NSAI assessed sales volumes in PJ have a higher energy content than equivalent dry gas volumes.

Comments from Managing Director Alex Underwood:

"The Empire team is delighted to share these outstanding results with shareholders. The volumes delineated in EP187 represent a nationally significant resource of low CO2 gas. Warnings abound from multiple sources that Australia faces material gas shortfalls in years ahead, a view that I share given the enduring role of gas. The Beetaloo and more particularly Empire’s resource has the potential to service domestic demand gaps and international sales via LNG. At an assumed gas contract price of $10 / GJ, each development well in EP187 could produce between $62 million and $95 million of revenue over its life, compared to a development cost of ~$20 million in the pilot phase and or ~$15 million in larger development scenarios. NSAI has identified over 200 2C drilling locations, representing LNG scale development potential.

Following the recent green light from the NT Government to move into production, the Empire team is progressing towards development drilling and cash flow. Our current capital resources allow us to proceed to a final investment decision on the pilot project this year without raising any further capital in the near term. This will allow the team to focus on further value accretive work including field development planning, indigenous consultation, regulatory approvals and gas sales negotiations.”

Https://hotcopper.com.au/threads/ann-major-beetaloo-resource-upgrade.7403521/

Https://apps.sentinel-hub.com/eo-browser/?zoom=16&lat=-16.34725&lng=133.88586&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c&datasetId=S2L1C&fromTime=2023-05-28T00%3A00%3A00.000Z&toTime=2023-05-28T23%3A59%3A59.999Z&layerId=6-SWIR&demSource3D=%22MAPZEN%22

Tamboran's megafracker was stopped by protestors at Darwin Port this morning with one protestor locking onto the rig for 7 hours, the latest in a wave of anti fracking demonstrations across the NT. We are only going to see protests proliferating until we get a ban on fracking.

https://twitter.com/FrackFreeNT/status/1662026419466301440?s=20

Https://finance.yahoo.com/news/falcon-oil-gas-ltd-notice-060000185.html

Https://finance.yahoo.com/news/falcon-oil-gas-ltd-filing-060000175.html

Https://pesa.com.au/beetaloo-green-light-ushers-in-economic-prosperity-and-east-coast-energy-security-2/

Found this on site Empire. Analyst report. Talking about cost around $ 20 million.

https://empireenergygroup.net/wp-content/uploads/EEG-Empire-Energy-Group-RaaS-Update-Report-1-2023-05-04.pdf

Ongoing FEED studies to tie down planning, design and costs; and securing bankable gas sales agreement heading to a first-mover project anticipated to be sanctioned (FID) by end-2023.

As previously reported, analyses completed by Subsurface Dynamics Inc. on the flow data indicates EURs (gas recovery per well) of between 6.2Bcf (~7PJ) on a P50 case up to 8.1Bcf (~9PJ) on a P10 case for a well with a 3,000m lateral and 60 frack stages (every 50m).

Bearing in mind that frack optimisation is still a work in progress, we suggest this data may represent the lower end of a base-case range.

The working model estimates capex in the order of ~$20mn for a 3,000m hz and 60 frack stage well, in a pilot case potentially reducing to ~$15mn in a development case which translates to unit drilling and completion costs of ~$2-3/gj on a project basis.

As per all assumptions to date we believe EUR and capex could be considered as perhaps the higher end of a base-case range given the design is still to be finalised.

“over $10 million in gross revenue (before royalties) over an equivalent first 127 days of commercial”

I was looking for the drilling costs. I could only find the cost of c3h. Anyone idea of the cost of c2h?

https://www.energynewsbulletin.net/exploration/news/1444734/empire-starts-fraccing-at-carpentaria-3-well

“Total cost for drilling the well is $10 million, below the previously budgeted $12.3 million.”

Https://open.substack.com/pub/anasalhajjieoa/p/understanding-pricing-mechanisms?r=18hq2w&utm_medium=ios&utm_campaign=post

Flare 23/5

https://apps.sentinel-hub.com/eo-browser/?zoom=16&lat=-16.34725&lng=133.88586&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c&datasetId=S2L1C&fromTime=2023-05-23T00%3A00%3A00.000Z&toTime=2023-05-23T23%3A59%3A59.999Z&layerId=6-SWIR&demSource3D=%22MAPZEN%22

Https://www.consilium.europa.eu/media/64497/g7-2023-hiroshima-leaders-communiqué.pdf

Https://twitter.com/SStapczynski/status/1659842854272004096?s=20

G7 nations say public investment in gas can be an appropriate measure to cut dependence on Russian

🌎 💰

🚢 Investment in LNG can also be appropriate to avoid shortages

🇺🇸 The US is the world’s top LNG exporter. And Europe is rushing to buy more LNG

“South Africa’s power shortages are the result of years of neglect, corruption, and poor policies. Trying to reduce the role of coal under European pressure to meet climate goals is making the situation worse.

Going for shale gas is probably the shortest fix, and this confirms the idea that natural gas is not a bridge to the future. It is the future.

According to a report published by the US Energy Information Administration (EIA) in 2013, South Africa ranks 8th in the world in technically recoverable shale gas reserves. With 390 trillion cubic feet, its reserves are more than half of those of the US, and more than the reserves of Russia or Brazil (this is only for shale gas). So, the resources are there, and a full development would enable South Africa to produce and export LNG.”

https://twitter.com/anasalhajji/status/1659416654575546368?s=20

Exactly my question. Hopefully some clarification at the shareholdersmeeting.

Falcon Oil & Gas and Bundu Gas and Oil Exploration, a majority-owned unit of Australia’s Challenger Exploration, retained rights to apply for exploration licenses, Sayidini said.

“We believe this is the place to be with the best potential to make it commercially viable,” Philip O’Quigley, Falcon’s CEO told Reuters of the southern part of the basin, where the company is seeking a license.

Https://amp.abc.net.au/article/102368224

Climate Change Minister says jurisdictions outside NT will help offset Beetaloo gas fracking emissions

“Middle Arm precinct is seen as a key enabler for Beetaloo gas to be transported north, further benefitting the Northern Territory’s economy,” the briefing states.

https://amp.theguardian.com/environment/2023/may/18/darwins-sustainable-middle-arm-development-is-key-to-huge-fossil-fuel-projects-documents-show