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Empire sinks

EMPIRE Oil & Gas has submitted to the somewhat inevitable and entered voluntary administration after Mineral Resources put its foot on the Perth Basin junior’s throat demanding repayment of its $15.1 million loan for the Red Gully project.

Anthony Barich
Empire sinks

As guarantor of the loan to its subsidiary Empire Oil Company, the corporate entity announced yesterday it could not conjure up an action likely to repay it, with no white knight forthcoming.   MinRes...

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