Highlights:

  • Emperor Energy secured approximately $17.5 million through the placement of 145.8 million new shares at $0.12 each, attracting commitments from both existing and new institutional and sophisticated investors.
  • The proceeds will be directed toward advancing the Judith-2 Appraisal Well within the company’s 100% owned Exploration Permit Vic/P47, including preparation for flow testing to evaluate the commercial potential of existing and prospective gas resources.
  • The company is actively progressing funding discussions, receiving strong interest from domestic and international gas market participants for potential pre-sales agreements or farm-in opportunities.

Emperor Energy (ASX:EMP) has successfully secured approximately $17.5 million through a placement of 145.8 million new shares at $0.12 per share, attracting strong support from both existing and new institutional and sophisticated investors. The funds raised will be directed towards advancing the Judith-2 Appraisal Well within the 100% owned Exploration Permit Vic/P47, with the objective of proving the commerciality of the Judith Gas Field and underlying Longtom Deeps resource. This capital raising underscores investor confidence in the scale and strategic potential of Judith, potentially the largest new gas field on Australia’s East Coast in over a decade, and positions the company to move forward with drilling plans, procurement of long-lead items, and engagement with strategic partners for funding.

A positive outcome from the Judith-2 Well could pave the way for commercialisation in the under-supplied Australian East Coast Gas Market, enhancing domestic energy security. The placement shares will rank pari-passu with existing shares, and settlement is expected on 19 March 2026, with quotation on or around 20 March 2026. Argonaut Securities and Canaccord Genuity acted as joint lead managers. Overall, the successful capital raise strengthens Emperor Energy’s financial position and accelerates preparations for key milestones in the Judith Gas Project.

Placement Details and Use of Proceeds

The placement was conducted at a price of $0.12 per share, representing a 14–16% discount to recent trading prices, with shares issued under the Company’s existing capacity pursuant to ASX Listing Rules 7.1 and 7.1A. Proceeds from the placement will fund essential activities to advance the Judith-2 Appraisal Well, including securing the Valaris 107 jack-up rig for February 2027, procurement of long-lead drilling equipment, and tendering contracts for land, marine, air, and rig-based services. Additionally, funds will support completion of the Environmental Plan approval process with NOPSEMA, conduct required geophysical surveys and cover corporate costs and working capital. The capital injection ensures that Emperor Energy is well-positioned to execute the drilling campaign efficiently, maintain project timelines, and address regulatory requirements. With strong institutional support, the placement validates market confidence in the Judith Gas Field’s resource potential and the company’s strategy for unlocking value from its 100% owned exploration permit. By securing key resources and infrastructure in advance, the company is prepared to minimise delays and ensure a smooth operational rollout for the appraisal well program.

Strategic Progress and Partnering

Emperor Energy is actively engaging with domestic and international partners to support funding for the Judith-2 Appraisal Well through potential gas pre-sales agreements or farm-in arrangements. The company has progressed well engineering design, initiated procurement for long-lead items such as surface wellheads and casing strings and is negotiating the drill rig contract with Valaris for February 2027. Environmental approvals are also advancing, with NOPSEMA requesting additional information, which the company views positively as it clarifies requirements for the final plan. Strategic partnering remains a key focus, with due diligence underway by interested parties in the Judith Gas Field data room. Management presentations and direct engagement with potential investors and gas market participants indicate strong interest in the project, which could provide significant co-funding for the appraisal well. Collectively, these efforts demonstrate Emperor Energy’s commitment to advancing the Judith Gas Project in a structured and timely manner, while positioning the company to secure long-term commercial agreements that enhance the field’s development potential and contribute to Australia’s energy supply.

Key Metrics:

  • Capital Raised: Approximately $17.5 million via the placement of 145.8 million new shares at $0.12 per share.
  • Discount to Market: Placement shares priced at a 14–16% discount to recent trading prices (last close and VWAP).
  • Resource Potential: Judith Gas Field P50 Prospective Recoverable Gas Resource assessed at 1,859 Bcf (1.86 Tcf) by Gaffney Cline.
  • Drilling Timeline: Valaris 107 jack-up rig secured for February 2027 to drill the Judith-2 Appraisal Well.

FAQs:

FAQ 1: How much capital did Emperor Energy raise?

The company raised approximately $17.5 million through a placement of 145.8 million new shares.

FAQ 2: What will the funds be used for?

Proceeds will fund the Judith-2 Appraisal Well, including drilling, equipment, environmental approvals, and working capital.

FAQ 3: When is the drilling planned?

The Valaris 107 rig is scheduled for February 2027 to drill the Judith-2 Well.