Empire said the drilling would target the Cattamarra Formation consisting of a stacked series of sandstones and shales with gas potential of about 557 billion cubic feet. If Eclipse is successful, Empire said it would target two more prospects west of Eclipse as well as the Gingin Prospect.
The Leschenault-1 well in EP 416 is expected to spud in August or September, according to Empire. The Leschenault Prospect is located about 35km northwest of Bunbury with potential volume of gas of about 100-180 bcf with potential of up to 208 million barrels of oil in place.
Empire is also planning to drill in EP 41, EP 412 and EP 359 in the second half of the year. The activity will be funded by farmout where Empire will divest some of the high equities it has in Exmouth sub basin exploration permits.
In other Empire news, the company has announced the part allotment of 47,865,00 new shares and 23,932,500 attaching new options. The remaining balance of 12,135,00 new shares and 6,067,000 new options will be announced in due course, Empire said in a statement to the markets.
