Highlights

  • Emperor outlined technical planning for the Judith-2 appraisal well in June 2026.
  • The company announced a AUD 17.5 million Placement in March.
  • Judith-2 drilling is scheduled no earlier than April 2027, subject to project conditions.
  • The proposed offshore programme involves geophysical and geotechnical surveys before drilling.

Emperor Energy Limited (ASX:EMP) is preparing its Judith-2 appraisal programme in Victoria’s offshore Gippsland Basin, where the company plans to test an established gas discovery. The proposed well sits within exploration permit Vic/P47 and follows technical work reviewing the original Judith-1 discovery and seismic information.

Judith-2 Moves Toward a Defined Appraisal Programme

Emperor’s activities in 2026 have included a March Capital placement, a June technical update and planning for the marine surveys and approvals required before offshore drilling. The project is at appraisal stage, with gas volumes and potential commercial production still to be tested.

A Historic Discovery Returns to the Work Programme

The Judith gas field was discovered in 1989 by the Judith-1 well. Emperor has since re-evaluated available subsurface information, including three-dimensional seismic data, as part of assessing the prospect for further appraisal. The planned Judith-2 well is intended to investigate the field and its possible development potential.

The company identifies a proposed well site offshore the Gippsland coast, within the Vic/P47 title. The appraisal aims to gather drilling, logging and testing data rather than immediately bring a gas production project into service.

Survey and Approval Steps Define the Schedule

The company describes a staged programme involving geophysical survey work, subsequent geotechnical investigations and the Judith-2 well. The relevant environment plan was accepted by the offshore regulator on 29 September 2026.

Emperor’s schedule envisages geophysical work from late November 2026, geotechnical work no earlier than January 2027 and drilling no earlier than April 2027. Each timing remains dependent on relevant conditions, including weather, approvals and specialist equipment availability.

Outlook: Drilling Data Will Inform the Next Decision

The planned offshore appraisal would be carried out using a jack-up rig, with geological logging and possible Well Testing forming part of the programme. The test outcomes are intended to help determine the field’s potential and any subsequent development considerations.

Emperor’s March 2026 announcement confirmed a AUD 17.5 million placement. The next operational milestones are the proposed surveys and the preparation of the drilling campaign, with the ultimate results to be assessed only once the well is completed.

Emperor Energy shares traded at AUD 0.08 on 6 November 2026, with a daily change of 0.00%. Trading Volume was 219,150 shares, with a session high of AUD 0.081 and low of AUD 0.077. Market Capitalisation was approximately AUD 80.9 million.