Emperor Energy (ASX:EMP) has announced the commencement of a farm-in process to fund the Judith-2 Appraisal Well. Emperor Energy is an Australian gas exploration company focused on developing the Judith Gas Field in the Gippsland Basin. The company has appointed Argonaut Corporate Finance as exclusive financial advisor for the funding of the Judith-2 project. Mumford Commercial Consulting has also been engaged to assist in the farm-in process.
The Judith Gas Field, 100% owned and operated by Emperor Energy, is strategically located in the Gippsland Basin, offshore Victoria. The Judith-2 appraisal well, scheduled for drilling in mid-2026, will target the Judith East 2C Contingent Resource of 166 Bcf and the Judith East (Deeps) P50 Prospective Resource of 142 Bcf. Success at the well could potentially lead to a 308 Bcf 2P Gas Reserve from the Judith East block.
Emperor Energy is in advanced discussions to secure a jack-up rig currently operating nearby in the Gippsland Basin. A successful Judith-2 well may also open the opportunity to drill a sidetrack into the Northeast fault block, potentially accessing an additional 364 Bcf of P50 Prospective Gas Resource, bringing the total potential 2P Gas Reserve to 672 Bcf. The company has released a revised investor presentation providing updated information on the project and planned path toward establishing a commercial gas reserve.
Executive Director Phil McNamara stated that the commencement of the Farm-In Process represents a pivotal step in unlocking the potential of the Judith Gas Field. He also noted the field’s strategic location near existing infrastructure and the increasing gas supply deficit on the East Coast of Australia. Success at Judith-2 could establish a new source of domestic gas supply, providing value to shareholders and energy security for the region.
