Empire Energy Group Limited (ASX:EEG) is a junior oil and gas producer and explorer with onshore Northern Territory (NT) and US oil & gas assets. EEG holds the largest acreage position (28.9m acres) in the highly prospective Greater McArthur Basin, which includes the Beetaloo Sub-basin. After a material uplift in its 2C/2U gas/liquids resource base, with the 100% buyout of the Pangaea-EMG JV Beetaloo tenements for ~$67m (@35cps), 2C Contingent Resources now lie @ 199Bcf gas / 3.5mmbbls liquids. 2U (“best case") Prospective Resource rose to 42.1Tcf gas/791mmbbls liquids. The NT region is fast developing as a gas-liquids rich strategic bolster for east coast Australia’s future energy needs and Darwin’s expanding LNG export terminals, amid strong policy support from both Territory & Federal governments. The Beetaloo alone is judged to contain recoverable unconventional shale dry gas volumes of >190Tcf, with liquids upside. EEG also owns conventional gas/oil producing assets in the US Appalachia, hedged via a mix of put options and swaps at minimum 2021 floor prices of US$2.50/mcf. EEG’s 2021 Beetaloo Middle Velkerri Formation shale work program aims to firm-up well technicals & economics, to enable sales & distribution agreements. We also expect further resource upgrades to result from 2021’s drilling & regional seismic data, as well as approvals to delineate a 2022 work program on Pangaea’s tenements. Having recently raised additional cash, EEG’s 2021 work program is fully-funded.