My view is they obviously picked up the stock very, very cheaply...

My view is they obviously picked up the stock very, very cheaply in the recent firesale Cap raise, and they are interested in the potential of our shale oil and gas assets in the Northern Territory.

Just guessing, but makes sense they would have an interest in getting into the potential billions of barrels of oil and shipping some or all of it north to Malaysia ?

From my Google search, the company however appears to be in property investment.

Maybe they see an opportunity for profit if Empire gets into a joint venture in the McArthur Basin or if there is a future takeover.

Not delighted that we have a new foreign substantial holder with unknown intentions, but this stock has provided very poor shareholder outcomes for a long time now. Our best option appeared to be with American Energy; the best option still appears to be with a partner of some sort.

GLTH