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[away]

Empire Energy Corporation International (Empire)
(OTCBB:EEGC) president Malcolm Bendall announced today that Great
South Land Minerals Ltd (GSLM) secured a drill rig in July to spud in
five 6 inch, 600 feet (200 metres) pre - collar wells on its SEL
13/98. These wells will then be used to cement in our 4 1/2 inch 5,000
PSI American Petroleum Industry (API) rated casing on which we intend
to mount a 5,000 PSI API rated blow-out preventor. We then aim to
drill 4 inch wells to the planned total depth (TD) of up to 6,000 feet
(2,000 metres). Our five-well drilling campaign is designed to prove
commercial accumulations of oil, gas and helium in the onshore
Tasmania Basin. Mr. Bendall said, "We have contracted a local drilling
company to pre - collar five discovery wells and we are requesting
bids for the completion of the wells to TD. These wells are on
seismically defined structures and have the real possibility of
commercial oil, gas and helium discoveries. These wells will be
testing petroleum plays in Tertiary, Triassic and Paleozoic sequences
in the north and central parts of the Tasmania Basin. The drilling
plan for the first well, Lachish #1, has been approved by the Mines
Department and the other wells will spud in when our drilling
applications are approved."
GSLM Managing Director, Dr. Clive Burrett, said "These are
exciting times with the onset of world record oil prices, currently at
$72 a barrel, coinciding with the arrival in Tasmania of our Terrex
Seismic Vibroseis team and the launch of our discovery drilling
program. This couldn't be better timed, with the start of the 1100km
2D seismic program on Monday along with the initiation of our 2006
drilling program, we expect a successful year for the company.
Previously, we have drilled seven stratigraphic wells in the basin all
with promising shows of wet gas and with helium in several of them.
Joint research with the University of Tasmania, financed by a grant
from the Australian Federal Government and GSLM, has confirmed the
generative potential of the basin, and along with the documented oil
seep in the south of the basin proves the existence of a working
petroleum system. Because of our planned comprehensive drilling
program, we are optimistic and expect to have a commercial oil and gas
discovery this year."

This press release contains forward-looking statements based on
our current expectations about our company and our industry. You can
identify these forward-looking statements when you see us using the
words such as "expect," "anticipate," "estimate," "believes," "plans"
and other similar expressions. These forward-looking statements
involve risks and uncertainties. Our actual results could differ
materially from those anticipated in these forward-looking statements
as a result of our ability to complete required financings and other
preconditions to the completion of the transactions described herein
and Empire's ability to successfully acquire reserves and produce its
resources among other issues. We undertake no obligation to publicly
update any forward-looking statements for any reason, even if new
information becomes available or other events occur in the future. We
caution you not to place undue reliance on those statements.



KEYWORD: NORTH AMERICA KANSAS UNITED STATES
INDUSTRY KEYWORD: ENERGY OIL/GAS PRODUCT/SERVICE
SOURCE: Empire Energy Corporation International


CONTACT INFORMATION:
Empire Energy Corporation International
Malcolm Bendall, 913-469-5615

[MoneyMaestro]

this is really looking at breaking the .15 hard

[MoneyMaestro]

Originally Posted by MoneyMaestro

this is really looking at breaking the .15 hard

nice gap over the resistance, lets see what it wants to do

[dicarp]

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 on becoming a leading low-cost finder of hydrocarbons. The Company is currently operating in Tasmania's central and northern basins.

Reports, Notes, and Updates
Beacon Equity Research

[stockwhiz85]

Onshore Tasmania may yield as much as 3 billion barrels of oil equivalent

It is estimated that one square meter (10 square feet) of surface area of the Tasmanian Basin may contain as much as nine barrels of oil. Taking into account source rock distribution, loss to the system due to leakage, faulting and metamorphism and recovery suggests there is a potential resource of as much as three billion barrels of oil. Using the Zeta Ware program, and conservative assumptions regarding source rock distribution and recovery factors, EEGC estimates onshore Tasmania could yield as much as 346 million barrels of recoverable oil plus 6 trillion cubic feet of methane or a possible aggregate recoverable resource of 1.346 billion BOE.

[stockwhiz85]

potential for a big move soon, thinking of giving it a little...

[dicarp]

volume is picking up, we should keep an eye on this one in the coming days!