Australia's Empire Energy rises as co signs infrastructure MoU with APA

Beetaloo Energy Australia

27/10/2021 04:19

** Shares of oil and gas explorer Empire Energy Group
 EEG.AX  rise as much as 4.1% to A$0.38, set for their biggest
intraday pct gain since Oct 6
    ** Empire Energy says it executed a memorandum of
understanding (MoU) with APA Group's  APA.AX  unit to develop
the gas distributor's Northern Territory energy assets 
 urn:newsml:reuters.com:*:nFWN2RM1TO
    ** EEG says APA and co will develop a "common user" model
for Beetaloo Sub-basin infrastructure, located within McArthur
Basin, Northern Australia
    ** Adds that MoU does not restrict co from entering
agreements for use of McArthur River Gas Pipeline
    ** Stock marks highest level since Oct 14
    ** More than 523,000 shares change hands, compared with the
30-day avg of ~450,000 shares 
    ** Stock up 2.8% so far this year, as of last close 
    

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))