$300,000,000 for Flare Gas development.
Empire and GSLM CEO Malcolm Bendall said, "With today's announcement by Sure Fund, Empire's potential financial position continues to strengthen. Sure Fund's USD$180 million principally protected notes are planned to provide Empire and GSLM with the financial capacity to drill and test a minimum of 12 of its highest priority oil and gas targets. Sure Capital has also commenced discussions with Empire regarding funding
in the sum of USD$300 million for the development and commercialization of a proprietary flare gas technology for which Empire has first option on the North and South American rights. As previously publicly disclosed, the international firm AECOM has estimated that Empire's annual revenue stream from the flare gas technology applications in North and South America has the potential to achieve USD$2.7 billion per annum." AECOM is a global provider of professional and technical management support services to a broad range of markets, including the energy sector.
