Emperor Energy (ASX:EMP), an Australian energy company focused on developing gas resources, today announced it has received firm commitments to raise approximately $17.5 million via a placement of approximately 145.8 million new shares at an issue price of $0.12 per share. Emperor Energy is progressing the exploration and appraisal of the Judith Gas Field within the Gippsland Basin. The placement garnered strong support from existing shareholders, alongside new domestic institutional and sophisticated investors.
The funds raised will be directed towards ongoing activities aimed at advancing the Judith-2 Appraisal Well within the company’s 100% owned Exploration Permit Vic/P47. The Judith-2 Appraisal Well is designed to appraise, through flow tests, the commercial viability of both the previously identified Judith East 2C Contingent Resource (166 Bcf) and the underlying Longtom Deeps P50 Prospective Resource (142 Bcf).
The total P50 Prospective Recoverable Gas Resource in the Judith Gas Field, encompassing both the Judith and Longtom Gas Sands, has been assessed by Gaffney Cline as 1,859 Bcf (1.86 Tcf). Emperor Energy is also actively pursuing strategic funding options for the Judith-2 Appraisal Well, noting positive engagement from domestic and international gas market participants interested in gas pre-sales agreements and/or an asset farm-in.
Emperor Energy Managing Director Tim Handley expressed satisfaction with the outcome of the capital raising, highlighting its validation of the Judith Gas Field’s potential amid compelling market conditions. Settlement of the new shares is expected around March 19, 2026, with allotment and quotation anticipated on or around March 20, 2026. Argonaut Securities and Canaccord Genuity (Australia) acted as Joint Lead Managers and Joint Bookrunners for the placement.
