Judith-2 Drilling Hinge Point: Can Emperor Energy Secure Commercial Gas Flow?
Emperor Energy has secured a significant upgrade to its Judith Gas Field resources following an independent audit, alongside a $3.7 million capital raise to fund the upcoming Judith-2 appraisal well scheduled for mid-2026.
- GaffneyCline audit confirms 166 Bcf 2C Contingent and 1.86 Tcf P50 Prospective Resources
- Successful $3.7 million placement supports Judith-2 well drilling plans
- Judith-2 well positioned near existing Gippsland Basin infrastructure
- Environmental Plan for Judith-2 approved for public consultation by NOPSEMA
- Company cash balance increased to $5.5 million post-placement
Independent Audit Boosts Judith Gas Field Confidence
Emperor Energy has announced a material upgrade to its gas resource estimates at the Judith Gas Field, offshore Victoria, following an independent audit by international petroleum consultancy GaffneyCline. The audit validated a 2C Contingent Resource of 166 billion cubic feet (Bcf) within the Judith East Block and identified an additional 1.86 trillion cubic feet (Tcf) of P50 Prospective Resources across the Judith and underlying Longtom Gas Sands. This represents a notable increase from previous estimates, underscoring the field’s potential as a significant domestic gas supply source.
The audit incorporated modern 3D seismic data acquired in 2020 and a comprehensive petrophysical evaluation of the Judith-1 well, confirming the presence of mobile gas and reservoir permeabilities conducive to commercial flow rates. Emperor Energy’s Executive Director Phil McNamara highlighted the extensive technical work underpinning the audit and expressed confidence in the field’s scale and strategic importance for South-East Australia’s energy security.
Capital Raise Accelerates Judith-2 Appraisal Well Plans
To advance the project towards commercialisation, Emperor Energy successfully completed a $3.7 million placement, attracting support from both existing shareholders and new institutional investors. The funds will be directed towards progressing the Judith-2 appraisal well, scheduled for mid-2026. The company is negotiating to secure the Valaris 107 jack-up rig, currently operating nearby in the Gippsland Basin, to undertake drilling operations.
Strategically, the Judith-2 well is located just 14 kilometres from the Exxon and Woodside-owned Tuna Platform and 40 kilometres from the onshore Orbost Gas Plant operated by Amplitude. This proximity to existing infrastructure is expected to facilitate future development and reduce project execution risks.
Environmental Approvals Progressing Smoothly
Emperor Energy has submitted an Environmental Plan (EP) for the Judith-2 well to the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA). The EP has passed the completeness check and undergone a 30-day public consultation period, meeting all regulatory requirements under the Offshore Petroleum and Greenhouse Gas Storage (Environment) Regulations 2023. NOPSEMA’s ongoing rigorous assessment will determine final approval, a critical milestone before drilling can commence.
Financial Position and Operational Outlook
At the end of June 2025, Emperor Energy reported a cash balance of $2.35 million, which increased to $5.5 million following the capital raise. The company’s quarterly exploration expenditure was $282,000, reflecting ongoing activities to advance the Judith project. Payments to directors and management totaled $162,000 for the quarter. Emperor Energy holds 100% beneficial interest and operatorship in its key petroleum tenements, including the Vic/P47 permit encompassing the Judith Gas Field.
With the independent resource upgrade, secured funding, and environmental approvals progressing, Emperor Energy is poised to move decisively towards the Judith-2 appraisal well. This next phase will be pivotal in confirming the commercial viability of the Judith Gas Field and its role in supporting Australia’s domestic gas supply.
Bottom Line?
As Emperor Energy advances drilling plans backed by a robust resource upgrade and fresh capital, the Judith Gas Field’s future as a cornerstone gas supplier hinges on upcoming appraisal results and regulatory green lights.
Questions in the middle?
- Will the Judith-2 appraisal well confirm commercial flow rates and resource volumes as anticipated?
- How will Emperor Energy navigate potential regulatory or environmental challenges during drilling?
- What partnerships or off-take agreements might emerge to support commercial development post-appraisal?
