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Stock impact report

Empire Petroleum Announces Participation in Louisiana Oil and Natural Gas Development Program

Empire Petroleum Corporation (EP) 
Company Research Source: Business Wire
TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, today announced it has elected to participate in a new oil and natural gas development program in Louisiana that represents a meaningful addition to the Company’s ongoing development activities.Empire has completed its due diligence and elected to participate in a three-well development program targeting proven formations in Louisiana. While the program targets hydrocarbon-bearing formations, the actual oil-to-gas mix will be established through ongoing development. As part of its participation, Empire will hold a 25% working interest in the initial well, with the Company’s portion of drilling and completion costs funded through the issuance of approximately 700,000 shares of Empire common stock. The Company believes the opportunity aligns with its focus on devel Show less Read more
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