Empire Oil & Gas withdraws from EP 437 joint venture (Scandinavian Oil-Gas Magazine)

Empire Oil & Gas withdraws from EP 437 joint venture

Published Apr 1, 2014

Empire Oil & Gas advises that its wholly-owned subsidiary, Empire Oil Company (WA) Limited, will withdraw from EP 437 by agreement with its joint venture partners in the permit, Key Petroleum (Australia) Pty Ltd, a wholly-owned subsidiary of Key Petroleum Limited ('Key'), and Caracal Exploration Pty Ltd ('Caracal').

Empire requested that it be allowed to withdraw after its Tenement Review found that the position, prospectivity, risk and reward of EP 437 meant it was not core to Empire and did not meet its future risk-reward parameters.

Tags: Empire Oil & Gas NL

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