LBR Libertas Cap

RNS Number:7739X
Libertas Capital Group PLC
01 February 2006


For immediate release                                            1 February 2006


                           LIBERTAS CAPITAL GROUP plc
                     ("Libertas Capital" or "the Company")

                       APPOINTMENT AS ADVISERS TO EMPIRE

Libertas Capital Group plc (AIM: LBR), the financial services firm, is pleased
to note that Empire Energy Corporation International (Empire) announced
yesterday that it has entered into a letter of engagement with Libertas Capital
Group plc.  Libertas Capital has been appointed as the Nominated Adviser and
broker for an AIM admission and fundraising of Zeehan Zinc Ltd and has agreed to
advise Empire with regards to a substantial fundraising required to accelerate
Empire's business plans.

The press release issued by Empire yesterday follows:

  Empire Reports $100 Million (USD) Financing Arrangement and $1,028,000 (AUD)
       Accrual on the September 2005 $6.1 Million (AUD) Seismic Contract

Tuesday January 31, 2:26 pm ET

LENEXA, Kan.--(BUSINESS WIRE)--Jan. 31, 2006--Empire Energy Corporation
International (Empire) (OTCBB:EEGC - News), having previously announced its
Great South Land Minerals Ltd (GSLM) subsidiary's execution of a September 2005
$6.1 million (AUD) seismic contract, now announces it has accrued $1,028,000
(AUD) expenditure in January under clause 3.2 Payment Terms of that contract.
The contractual obligation on GSLM's 10-year license was renewed in October 2004
for a period of five years. It was understood on the renewal of the contract
that GSLM would start the $6.1 million (AUD) seismic survey in this Australian
summer period and the company expects an additional accrual of approximately
$1.0 million (AUD) on February 1, 2006.

In the circumstances therefore the company believes it has performed all of its
obligations under the contract which were in its control. The company has taken
independent legal advice as to the fulfillment of these conditions and is
satisfied that they have been duly and completely fulfilled and that it is
therefore in a position to continue with its operations in respect of such
licenses.

Concerning financing agreements, a U.S. director, Tad Ballantyne, reported from
London today that he is pleased that the long process of identifying and
selecting additional proper financial intermediaries to arrange both bridge
capital and IPO capital has been completed and believes the engagement of the
intermediaries will provide all the money necessary to bring the Zeehan Zinc Ltd
(ZZ) and GSLM operations into cash flow. The numerous independent appraisal
reports needed for validation of the enterprise value required by intermediaries
have been delivered. These time-consuming reports were critical in pricing both
bridge and IPO capital. Any negative effects resulting from the long processing
time to generate the appraisals was more than offset by the increasing price of
the underlying commodities and the corresponding increase in the underlying
valuation.

The company is therefore pleased to announce that it has entered into a letter
of engagement with Libertas Capital Plc, a public company listed on the AIM
Market of the London Stock Exchange. Libertas Capital is the Nominated Advisor
and broker for the AIM process and has agreed to assist the company with the
substantial fundraising required to accelerate the company's business plans.

The Libertas Capital team has a strong record of assisting companies in the
mineral resource and renewable energy space in the London and international
securities market. As part of the scope of work, Libertas Capital has agreed to
expedite the admission of ZZ to trading on the AIM market. It is anticipated
that such admission and related GBP 15 million (US$26.5 million) fundraising
will take place within the next few months.

Andrew Greystoke, Partner of Atlantic Law Llp, the legal advisors to the Company
during the last two years in the United Kingdom in respect to the AIM admission
and general matters, commented: "We are pleased that the efforts of Mr. Malcolm
Bendall, the Chairman of the Company over a number of years, are now bearing
fruition through the proposed flotation on AIM. We consider this a tribute to
Mr. Bendall that reflects the substantial of amount of time, money and effort
that has been expended in reaching the present situation."

Mr. Noble Trenham of First Global Securities Inc. (FG), a U.S. stockbroker and
investment banker and one of the original advisors, noted: "FG had been ready to
provide the initial $5,000,000 (USD) to fund the seismic survey to be conducted
in the summer of 2005 that was unfortunately delayed by external events related
particularly to the strength of the natural resource industry and the
unavailability of equipment. FG remains ready to provide the funds for such a
survey as soon as such equipment can be obtained on site. FG has already funded
the initial seismic planning work."

In the meantime, the Company, in collaboration with the federal government, has
been able to improve its seismic data acquisition parameters and generally to
develop the geological information relating to the site and its oil-bearing
potential together with the circumstances under which such potential can be
realized.

Mr. Keith Laing, Chairman of Empire, who had been present at the original
financing discussions two years ago in Europe, stated: "I am delighted by recent
developments and that all of the company's operations continued as rapidly as
possible within the contractual framework which, as noted above, remain
effective. Recent increases in oil and gas prices and in mineral resource values
will, in the light of current circumstances, substantially benefit the company
and its operations. The availability of the leases and licenses to which the
Company is legally entitled will enable the Company to proceed and in due course
realize substantial shareholder value."

Mr. Michael Roberts, President of MR Associates, LTD (MRA), stated: "GSLM has
done extensive work to evaluate the property and has provided access to their
substantial library facilities and experienced staff. This has encouraged MRA,
not only to farm into the block but also to begin preparations for permission to
drill additional wells within the farm-in area."

GSLM entered into a contract with Terrex Seismic Limited (Terrex) in September
2005 to produce an additional 1,400 kilometers (900 line miles) of seismic
survey over the property of the Company. Initial planning is complete and
awaiting permitting. Mr. Steve Tobin, President of Terrex, said: "We are pleased
to undertake this exciting work for GSLM. The acquisition of seismic data in
Australia has significantly increased during the past summer season but
unfortunately equipment and personnel have been in short supply due to industry
demand and this has had the effect of delaying the operations of the Company.
GSLM has previously paid over $3.5 million (AUD) for earlier seismic work on
this part of the property. Additional equipment has now been acquired for the
2006 survey and the Company views the outcome of the survey with confidence."

The monies to be arranged by Libertas Capital, which are expected for both
natural resource projects, are expected to be in the order of $133,000,000 (AUD)
which will be utilized partially to accelerate the development work on the
leases by both the extended seismic work which has already been contracted, and
the drilling and development work which has been planned to be undertaken.

Jakob Kinde, the Executive Chairman of Libertas Capital, stated: "We are
delighted to have been appointed as Nomad Broker and Advisors to these two very
exciting projects. We believe that these two assets will be received very
positively by the international investment community."

Dr. Clive Burrett, Director and Chief Geologist to the Company, expressed his
view that the prospects for the Company's property compare favorably with areas
in which some large discoveries such as the South Oman Basins and the Cooper
Basins have been made. He considers that this property represents an outstanding
opportunity for the Company to capitalize on the time, money and effort that has
been invested in its development over the last 20 years and looks forward to the
commercialization of the possible recoverable three billion barrel (Oil
Equivalent) potential. The Tasmanian government, communities and people stand to
benefit from the twelve percent royalty that may be collected from any
commercial production.

Dr. Burrett stated: "The recent data obtained by the Company and its consultants
has also confirmed the over $1.2 billion dollar (USD) zinc/lead/silver resource
of the Company's properties on the West Coast of Tasmania."

Mr. Bendall said: "I praise God for his supplying of the highly qualified
personnel and funding to complete the execution of the vision and I thank the
Tasmanian Government and shareholders for their continuing support."

This press release contains forward-looking statements based on our current
expectations about our company and our industry. You can identify these
forward-looking statements when you see us using the words such as "expect,"
"anticipate," "estimate," "believes," "plans" and other similar expressions.
These forward-looking statements involve risks and uncertainties. Our actual
results could differ materially from those anticipated in these forward-looking
statements as a result of our ability to complete required financings and other
preconditions to the completion of the transactions described herein and
Empire's ability to successfully acquire reserves and produce its resources
among other issues. We undertake no obligation to publicly update any
forward-looking statements for any reason, even if new information becomes
available or other events occur in the future. We caution you not to place undue
reliance on those statements.

Contact:
Empire Energy Corporation International
Malcolm Bendall, 913-469-5615


For further information about Libertas Capital Group plc please contact:

Libertas Capital Group plc                                   +44 (0)20 7569 9650
Jakob Kinde, Executive Chairman
Henry Okereke, Chief Executive Officer

Grant Thornton                                                +44(0)20 7383 5100
Graeme Thom/ Fiona Reid

Buchanan Communications                                       +44(0)20 7466 5000
Charles Ryland / Mary-Jane Johnson


Notes to Editors

About Libertas Capital Group plc

Libertas Capital is a UK-based financial services firm offering its clients a
full range of dedicated independent Corporate Finance Advisory, Research and
Distribution services.

Corporate Finance services include advice on M&A, public and private fund
raising, private equity encompassing development capital, MBOs and MBIs,
valuation and exit strategy. In the Securities business Libertas Capital offers
research to corporate and institutional clients, via Equity Growth Research and
Libertas Capital Research, over a global distribution network. Libertas Capital
is focused on the small to mid cap market in the UK, Northern Europe, the Nordic
region, Asia and the US, where the Group has gained widespread experience and
developed strong relationships.

Libertas Capital concentrates primarily on growth companies across a number of
industry sectors with a particular focus on environmental sciences, technology
(software and business services) and medical technology.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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