Emperor Energy Secures $3.7 million to Advance Judith-2 Gas Well

Highlights

• Emperor Energy (ASX: EMP) raises $3.7 million via institutional placement.
• Proceeds to fund Judith-2 Well development and secure drilling equipment.
• GaffneyCline certifies 166 BCF in 2C resources, boosting project credibility.

Capital Raise Gains Strong Institutional Backing

At the time of writing, Emperor Energy Limited (ASX: EMP) has successfully raised approximately $3.7 million through a placement of 120 million new shares at an issue price of $0.031 per share. The funds will support the company’s efforts to advance the Judith-2 Well in the Gippsland Basin toward a Final Investment Decision (FID).

The capital raise received solid support from both existing and new institutional and sophisticated investors, reflecting growing confidence in the company’s strategic position and the resource potential of the Judith Gas Field.

Proceeds Target Key Milestones for Judith-2

The placement proceeds will be directed toward securing the Valaris 107 jack-up drilling rig, acquiring long lead items like wellheads, and funding preparatory activities for the appraisal drilling. Emperor Energy is also allocating funds for regulatory engagement and general working capital requirements.

The capital injection follows an independent certification by GaffneyCline, validating a 2C Contingent Resource of 166 BCF and total P50 Prospective Resources of 1.86 TCF for the Judith Gas Field.

Positioning for Strategic Partnerships

Executive Director Phil McNamara described the raise as a vote of confidence in the scale and importance of the Judith project. The company plans to initiate a farm-out process to bring in strategic partners to co-invest in the appraisal campaign and eventual development.Located close to key infrastructure such as the Tuna Platform and Orbost Gas Plant, Judith is seen as a crucial contributor to east coast energy security, especially after recent gas price spikes caused by outages at major facilities.

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