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Empire Energy Group Limited ( (AU:BTL) ) has provided an update.
Beetaloo Energy Australia Limited has achieved a significant milestone with the successful fracture stimulation of the Carpentaria-5H well, marking the largest such operation in Australian history. This development underscores the company’s growing capabilities and scalability in its Beetaloo operations. The well is currently shut in, with encouraging initial flowback results, as the company prepares for the next phase of testing. Beetaloo Energy is progressing towards a Final Investment Decision for the Carpentaria Pilot Project, pending final Ministerial approvals, and has commenced civil works for the Carpentaria Gas Plant. The company is financially robust, with $32.6 million in cash and liquidity, and an additional $30 million expected post-FID.
The most recent analyst rating on (AU:BTL) stock is a Buy with a A$0.71 price target. To see the full list of analyst forecasts on Empire Energy Group Limited stock, see the AU:BTL Stock Forecast page.
More about Empire Energy Group Limited
Average Trading Volume: 1,412,013
Technical Sentiment Signal: Buy
Current Market Cap: A$378.9M
For an in-depth examination of BTL stock, go to TipRanks’ Overview page.