SOURCE: Empire Energy Corporation International

June 19, 2008 10:43 ET

Hunt Energy Rig Underway on Agreement to Drill Empire Energy's Tasmanian Basin Oil and Gas Wells

LEAWOOD, KS--(Marketwire - June 19, 2008) - Larry Werecky, Managing Director of Hunt Energy, advised Empire Energy Corporation International (OTCBB: EEGC) that he has mobilized the Hunt Rig #3 toward Tasmania in accordance with his agreement with Empire. Mr. Werecky said recent heavy rains in the Cooper Basin had settled and he had now completed the move to Sea Lake.

Under its agreement with Empire, Hunt mobilized the oil and gas drilling rig to Sea Lake in Victoria, to fulfill a shallow drilling contract on the way to the Melbourne docks for sea transfer across Bass Strait to Tasmania. The relocation of equipment to Sea Lake may reduce Empire's transport costs by reducing the shipping distance to the first Tasmanian drill site. Mr. Werecky said he was actively working on the Sea Lake well and expects to be ready to complete rig down and the move to the Melbourne Docks within the next month.

Empire founder and CEO Malcolm Bendall welcomed the news this week and said, "The movement and availability of this rig should fit in well with the completion of government approvals and with the finalization of financing negotiations should allow a sustained and substantial drilling program to get underway. GSLM staff, contractors and investors are visiting the planned Bellevue well site today to inspect the proposed drill pad and access roads and confirm agreement with the surface property owner."

Empire Chairman Dr. Clive Burrett said, "With the drilling program gearing up and planning well underway for the southern hemisphere summer seismic campaign, Empire will be testing several of the identified targeted structures, upgrading leads to prospects and clarifying further targets in the 60% of the tenement that has still to be explored seismically."

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

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. For a more detailed discussion of risks and other factors related to Empire Energy Corporation Int'l, please refer to its 10-KSB and 10 Q reports filed with the U.S. Securities and Exchange Commission.

Contact Information

  • Contacts:
    John Garrison
    President
    Empire Energy
    (877) 663-2310

    Rick Eisenberg
    Eisenberg Communications
    (212) 496-6828