Empire Energy completed the acquisition of an 83% stake in Beetaloo basin from Pangaea Resources for c.$55m.

Empire Energy, an energy oil and natural gas exploration company, completed the acquisition of an 83% stake in five tenements across the Beetaloo Sub-basin onshore Northern territory from Pangaea Resources, an independent exploration and production company, for c.$55m. The acquisition is subject to Empire shareholder and Northern Territory government approvals. Completion is expected in June 2021.