Empire Energy Group Ltd (EEGUF) Completion of USA Asset Sale

On 12 April 2024, Empire Energy Group Limited (ASX:EEG) (OTCMKTS:EEGUF) announced it had entered into an unconditional agreement to sell Empire Energy E&P LLC ("Empire E&P") to PPP Future Development, Inc for up to US$9.1 million. Empire E&P is the operating entity for all of Empire's US oil & gas assets.

Further to that announcement, Empire announces that the sale achieved completion on Friday, 12 April 2024, US Eastern Time.

Following completion of the sale, upfront cash proceeds of US$5.9 million were received by Empire and the existing US Macquarie Bank loan of ~US$4.6 million was repaid in full.

Empire Energy Group Ltd
E: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net

News Provided by ABN Newswire