ERM Power says it will seek to recover legal costs paid by Empire Oil & Gas for its directors' personal legal actions against shareholders as a showdown between the two companies looms at a general meeting next month.
The war of words between Empire Oil & Gas and its joint venture partner ERM Power continues, with Empire directors warning shareholders that ERM lacks the experience needed to guide an oil and gas company.
Empire Oil & Gas is facing a board upheaval with its biggest shareholder and joint venture partner ERM Power calling a meeting of shareholders to consider removing Empire's executive chairman and two other directors.
Junior oil and gas producer Empire Oil & Gas has formally started marketing gas from its Gingin West gas discovery north of Perth, just two and a half months after announcing the find.
Nedlands-based Empire Oil & Gas NL aims to raise $2.3 million to fund further petroleum exploration and contributions to discovery well testing costs, in a placement to be arranged by South Pacific Securities Pty Ltd.
Wholly-owned subsidiary Empire Oil Company (WA) Ltd has executed a farmin agreement with Northern Territory Oil Pty Ltd who will contribute 33-1/3% of the costs of drill ing Moriary-1 to a total depth
