Empire Oil & Gas NL : Sale of Key Petroleum Limited Shares

Empire Oil and Gas NL is an Australia-based company engaged in oil and gas exploration and production. The Company is an onshore conventional gas and condensate producer and explorer. The Company has assets in Perth Basin in Western Australia. The Company's oil and gas producing assets are located in Red Gully Gas and Condensate Processing Facility (Red Gully Processing Facility) is in the Perth Basin. The Company's producing assets at Red Gully are located approximately 150 kilometers from the city of Perth. The Red Gully Processing Facility has produced and delivered over 7,800 Terrajoules (TJ) of gas. It is the holder of the onshore acreage in the prospective Perth Basin with its production licenses and permits covering approximately 9,000 square kilometers. The Red Gully Processing Facility is located in the Shire of Gingin, approximately 150 kilometers from the city of Perth. It holds nine exploration permits and two production licenses in the Perth Basin.