Message #23 From:
NewsBot Date: December 29, 2007 01:16:55 PM
Empire Energy Announces Pre-Christmas Operational Progress in Its Tasmanian Exploration Project
Empire Energy Corporation International (OTCBB: EEGCStock Message Boards) (the "Company") announced today that its wholly owned subsidiary
Great South Land Minerals Ltd (GSLM) signed a contract on December 14th,
2007 with Hunt Energy & Mineral Co. - Australia Pty Ltd on drilling its
exploration wells.
Hunt Energy is planning to begin mobilizing its Rig #3 after the New Year.
GSLM estimates it will take about 60 days for the rig from Adelaide (Aust.)
to be mobilized and the relevant Ministerial permits to be obtained. First
exploration well to be drilled will be Bracknell #1, located on GSLM's
Special Exploration License 13/98, slightly north of the town of Tunbridge.
To ensure the proper running of drilling operations, GSLM has employed the
services of Mr. Duncan New, a 30 year Australian drilling veteran, who will
oversee all the exploration drilling related activities. Additional field
and admin staff required for efficient running of the project will be
recruited over the next several weeks, prior to commencement of drilling
operations.
To properly fund GSLM and enable it to start drilling operations, Empire
Energy had first to retire the US$4 million Wind City loan dating from
December 2006. During November 2007, sufficient financing was put in place,
which allowed Empire to retire this debt. Further financing activities are
ongoing at this time to ensure a smooth and uninterrupted drilling
operation for GSLM.
Empire Energy Corporation is an international oil and gas exploration
company, focusing on developing assets in one of the world's last virgin
basins and to become a leading low-cost finder of hydrocarbons. The Company
is currently operating in Tasmania's central and northern basins.
Note: The information presented in this press release contains
forward-looking statements which are based on the current expectations of
the management of Empire Energy Corporation Int'l only, and actual results
may differ materially. For a more detailed discussion of risks and other
factors related to Empire Energy Corporation Int'l, please refer to its
10-KSB and 10 QSB reports filed with the U.S. Securities and Exchange
Commission.
