Latest Gippsland Basin News

Emperor Energy has secured NOPSEMA approval for the Judith-2 appraisal well, removing a major regulatory barrier ahead of targeted drilling in April 2027. The well will test a 166 Bcf contingent gas resource and investigate deeper prospective sands, although commercial conversion remains unproven.

Emperor Energy has moved its Judith Gas Field closer to a targeted April 2027 appraisal well, with the VALARIS 107 rig lined up and regulatory work advancing. But the company’s auditor has highlighted a material uncertainty over its ability to continue as a going concern, with management forecasting a need to raise about $45 million through September 2027.

Fitzroy River has completed the sale of its Bowdens Silver royalty for A$17.5 million, receiving A$10 million in cash and A$7.5 million in Silver Mines shares. The company has not yet disclosed how or when the proceeds will be returned to shareholders.

Fitzroy River says conditions for its A$17.5 million Bowdens Silver royalty sale have been satisfied, with completion and receipt of funds expected within the coming week. The company plans to return most net proceeds to shareholders, although the amount, structure and timing remain undecided.

Emperor Energy has signed a term sheet to secure the Valaris 107 jack-up rig for its Judith-2 appraisal well, targeted for April 2027. The deal commits US$3.5 million before the full drilling contract is finalised, while environmental approval remains outstanding.

Fitzroy River Corporation reported a modest loss for FY26, with a key highlight being a $12.27 million disputed payment from Endura Mining related to its Snowy River Gold Project royalty. The company has initiated court proceedings in New Zealand to clarify the validity of this buyout option while exploring potential sale of its Bowdens Silver royalty.

Woodside Energy delivered a strong first half in 2026, with revenue up 13% to $7.45 billion, net profit after tax reaching $1.67 billion, and key LNG and oil projects advancing on schedule. The company declared a fully franked interim dividend of 57 US cents per share amid ongoing global market volatility.

Fitzroy River Corporation has appointed Argonaut Corporate Finance as exclusive adviser to test market interest in selling its Bowdens Silver Project royalty, with no sale decision yet made.

Woodside Energy reported a 28% jump in Q2 operating revenue to $4.185 billion, propelled by a 35% rise in average realised prices despite a 9% dip in production volumes. Key LNG projects Scarborough, Trion, and Louisiana LNG progressed on schedule and budget, while Woodside increased its Browse Joint Venture stake to 41.27%.

Amplitude Energy reported record FY26 production of 27.6 PJe and revenue of $285.8 million, boosted by strong gas prices and operational gains. The company’s East Coast Supply Project (ECSP) progresses with the Artisan gas field acquisition and upcoming drilling at Juliet and Annie wells.

Cadoux has wrapped up its first drilling program at the Wimmera Mineral Sands project in Victoria, setting the stage for downstream rare earth processing with Minhub’s Darwin plant feasibility study progressing.

Emperor Energy has submitted a revised Environmental Plan for its Judith-2 appraisal well and is advancing drilling preparations, including securing contractors and negotiating the Valaris-107 rig contract for a late Q1 2027 start.