• Successful closure of $7.8 million Share Purchase Plan
• Company upsized SPP to $7 million to ensure all eligible shareholders could participate
• Funds to support Beetaloo Basin appraisal activities

Empire Energy Group Ltd has announced the successful completion of its Share Purchase Plan (SPP), which was open to eligible shareholders. The company received valid applications totaling $7.8 million from 583 holders, with an average application size of $13,335. After exercising a scale back, a total of $7 million has been accepted. Empire elected to upsize the SPP to ensure that all eligible shareholders were given an appropriate opportunity to participate and to ensure the company is well-funded as it progresses its Beetaloo Basin appraisal activities, while being mindful of dilution of all shareholders' interests. Under the SPP, eligible shareholders could apply for up to $30,000 worth of new shares at $0.16 per share, the same price as the recent $28 million placement. Shareholders who participated in the SPP will also receive one free-attaching option for every two new shares issued, subject to shareholder approval. The new shares will rank equally with existing shares and are expected to be issued and commence trading on 16 June 2025.

The company's financial position is now materially strengthened, allowing it to focus on the imminent stimulation of Carpentaria-5H and completion of approvals for sale of test gas, following which it will commence construction of the Carpentaria Gas Plant to facilitate commencement of gas sales.