Australia's Empire Energy at over 2-month high as unit gets government grant

Beetaloo Energy Australia

10/09/2021 06:28

** Shares of Australia's Empire Energy Group Ltd  EEG.AX 
rise 6.35% to A$0.335 after unit recieves grant from Australian
govt 
    ** Stock hits its highest level since June 30
    ** Co's subsidiary Imperial Oil & Gas Pty Ltd has executed
three grant agreements with the Australian government under the
Beetaloo Cooperative drilling programme in the country's
Northern Territory  urn:newsml:reuters.com:*:nASX26ZvqB 
    ** Three grants capped at A$6.5 mln, A$6.8 mln and A$6 mln 
    ** Each grant to offset 25% of the cost of some surveying
and drilling activities in one of co's wells 
    ** Has received approval for civil construction and seismic
surveys from the Northern Territory government; expects approval
for drilling and fracture stimulation in the coming weeks
    ** EEG down 11.27% so far this year, as of Thursday's close 
    

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))