Empire looking to raise $460k in issue placement

Empire Oil & Gas is looking to raise up to $460,000 by issuing 15,300,000 shares at three cents per share in a non-underwritten offer.

The joint issue managers and brokers to this Prospectus placement are D&D Tolhurst and DJ Carmichael.

Empire will be using the funds to pay for its share of the proposed Carlston-1 well expected to be drilled later this year, as well as the drilling of the proposed Eclipse-1 well in the Perth Basin.