Empire Energy Receives Government Approval for Northern Territory Project's Environment Management Plan; Shares Down 5%

MT Newswires Live2024-11-18

Empire Energy Group (ASX:EEG) secured approval from the Northern Territory Government's Department of Lands, Planning and Environment for its environment management plan for the Carpentaria pilot project, according to a Friday filing with the Australian bourse.

The plan provides environmental approvals for the project, including up to nine new wells, installation of the Carpentaria gas plant, and above-ground process facilities with access to the McArthur River Pipeline for the export of gas, the filing said.

The project requires the final major approval for the sale of gas under the Beneficial Use of Test Gas provisions of the NT Petroleum Act, according to the filing.

Shares fell 5% in afternoon trade Monday.

Price (AUD): $0.19, Change: $-0.01, Percent Change: -5.00%

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