Empire Energy Cp Itl (EEGC)

Empire Energy Corporation was incorporated on November, 1983 in the State of Utah under the name Medivest Incorporated. Medivest engaged in different business enterprises and eventually filed for protection under the bankruptcy laws. Medivest emerged from bankruptcy and had its corporate charter reinstated in 1995 but remained inactive until 1999 when Peterson & Sons Holding Company acquired control by purchasing a majority of the then outstanding shares of Medivest from the majority shareholder and the shareholders of Medivest approved a change of name from Medivest Inc. to Empire Energy Corporation. Empire Energy Corporation is engaged in the exploration of petroleum and natural gas in Tasmania, Australia via its wholly-owned subsidiary Great South Land Minerals Limited. The exploration objective of Great South Land Minerals Limited is to discover commercial quantities of oil and gas onshore Tasmania. On the basis of research carried out in the last five years, three petroleum systems have been identified onshore Tasmania: a Precambrian Petroleum System, an Ordovician to Early Devonian Larapintine System within the Wurawina Supergroup below the Tasmania Basin and a Permo-Triassic Gondwanan System within the Parmeener Supergroup of the Tasmania Basin. As an independent natural gas and oil producer, the Company faces competition in all aspects of its business. The Company's exploration activities are subject to numerous government laws, rules and regulations by the concerned authorities.