Gippsland gas production in decline, EMP’s Judith Gas field is perfectly placed to fill the supply gap

Company name: EMPEROR ENERGY LIMITED (EMP)

Code: EMP.ASX

The proceeds from the capital raise will place EMP in a good position to capitalise on the development of its assets which includes the important extension of its VIC/P47 Exploration Permit in the offshore Gippsland Basin, Victoria. The permit is surrounded by Global Gas Exploration companies and located in Australia’s leading hydrocarbon basin. The Gippsland Basin is a significant supplier of East Coast Australia gas and gas will become a critical source of electricity generation to support the transition from fossil fuels to renewables.    

Other factual information provided by the company has been summarised below:  

• High demand and dwindling gas supply on the east coast grid. The offshore Gippsland gas production in decline and Emperor Energy views this as an opportunity as the Judith Gas field is perfectly placed to fill the supply gap into the existing Exxon Mobil / Woodside infrastructure to the Longford Gas Plant or to the Orbost Gas Plant owned by Cooper Energy.

• 100% EMP owned Vic/P47 Exploration permit has seen a 10-fold increase in calculated permeability of the gas bearing sandstone formations within the Judith-1 Well after a new analysis in 2023 by respected expert Petro Physicist Steve Adams. This has been noted by the company as a ‘game-changer’ as Gas Sand Permeabilities were re-calculated using a proven technique for old wells that compensates for problems with geophysical logs from the era when the Judith-1 Well was drilled in 1989*see April 2024 presentation announcement.

• Flow Modelling of Judith-1 Well is currently being carried out and the company expects the results to be very positive. With a recent extension granted by NOPTA, the Judith-2 Well is scheduled to be drilled in 2025.

• EMP is positioned to take advantage of the current gold bull run as it has a contracted right to complete the purchase of Great Caesar Gold mining leases in QLD. The company’s due diligence has concluded the strong Soil Geochemistry and Rock Sample Analysis Results, which supports the Company’s objectives of establishing a low capital cost gold mining operation.

• EMP Foresees this project generating revenue in the shorter term to assist in ongoing funding of the company along as it pursues its long-term objective of developing their gas project. The Company is also looking to offset the purchase cost of the Gold Mining Leases through the establishment of a 50/50 Joint Venture with an unlisted London based Company see ASX Announcement 15th April.  Intention is that investment from the London based Company would reduce the immediate capital investment requirements on Emperor Energy.

• Director & Mining Engineer – Phil McNarama, is a Mining Engineer with 36 Years of experience in the Resources Industry. He is a qualified Coal Mine Manager having managed 3 underground coal mines across a 13 year period. He has held corporate roles with Junior Exploration Companies across the last 14 Years and was the Founding CEO and Managing Director of previously ASX listed Armour Energy (ASX: AJQ). Mr McNamara has been providing consulting services to Emperor Energy since 2016 and has played a key role in Emperor Energy’s progress to redefine the Judith gas prospect in the Company’s key Exploration Permit Vic/P47.

• Malcolm King who consults to Emperor Energy in a business development role was the Drill Rig Geologist for Shell when the Judith-1 Well was drilled in 1989. He maintains that the Judith-1 Well saw consistent high levels of gas shows when drilling the target sandstones and considers the recent calculated permeability upgrades as consistent with this.

 About the company

EMPEROR ENERGY LIMITED (EMP) is an ASX-listed, Emperor Energy is a diversified energy company with upstream and downstream assets in Australia. The company’s strategic asset Vic/P47 in the Gippsland Basin next to the Woodside/ExxonMobil Kipper field. The company has a strong management team with extensive exploration and financial experience.

As an energy company, EMP is focused on delivering gas into the Australian East Coast Energy Market where gas will become the key dispatchable energy source to supplement renewable energy supplies as they are developed.   Furthermore, it has a contracted right to complete the purchase of Great Caesar Gold mining leases in QLD. The company’s due diligence has concluded with strong Soil Geochemistry and Rock Sample Analysis Results, which supports an opportunity to establish low capital cost mining operation with a potentially low operating cost gold asset.

DISCLAIMER: ‘The information does not constitute personal financial advice. Consult your adviser or broker prior to making any investment decision.

For further information about this company, email – shareholder@pelshare.com.au