Key Highlights

  • Emperor secured environment plan approval for the Judith-2 appraisal well.
  • The company targets an April 2027 drilling campaign in the offshore Gippsland Basin.
  • Judith-2 will appraise a 2C contingent gas resource and test deeper Longtom sands.
  • Funding and a final rig arrangement remain required before the planned campaign.

Emperor Energy Limited (ASX:EMP) has cleared a key regulatory step for its planned Judith-2 appraisal well in the offshore Gippsland Basin. Environment plan approval allows the company to progress preparations toward an April 2027 drilling window, while funding and rig arrangements remain to be finalised.

Environment Plan Clears a Key Requirement

The approved environment plan covers the Judith-2 well within permit VIC/P47. Emperor describes the approval as the key drilling approval requirement for the well. The approval itself does not confirm that drilling will proceed or that gas will be discovered.

April 2027 Is the Targeted Window

Emperor signed a term sheet on 8 September 2026 for the VALARIS 107 jack-up rig. The rig is expected to become available after its current commitments conclude in March 2027, supporting the company’s targeted April drilling window. The announcement does not describe a final rig contract.

Judith-2 Carries Two Objectives

The well is designed to appraise the Judith discovery, where Emperor cites a 2C contingent recoverable gas resource of about 166 Bcf. It will also test deeper Longtom gas sands carrying a P50 prospective recoverable resource estimate of 142 Bcf. These resource categories are estimates rather than proven reserves.

Funding Remains Part of the Programme

At 30 June 2026, Emperor reported cash and cash equivalents of AUD 15.63 million. Its Annual Report states that additional funding is required, with a minimum overall raising of approximately AUD 45 million before costs to fund exploration through September 2027. The planned drilling therefore remains dependent on financing and final rig arrangements.

Funding and Rig Steps Come Next

Emperor’s next steps centre on securing the final VALARIS 107 arrangement and required funding before the targeted April 2027 Judith-2 appraisal drilling campaign can proceed.