New Risk • Mar 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.5m free cash flow). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Revenue is less than US$1m (AU$84k revenue, or US$60k). Minor Risk Market cap is less than US$100m (AU$117.2m market cap, or US$82.9m). Reported Earnings • Mar 20
First half 2026 earnings released: AU$0.003 loss per share (vs AU$0.001 loss in 1H 2025) First half 2026 results: AU$0.003 loss per share (further deteriorated from AU$0.001 loss in 1H 2025). Net loss: AU$2.29m (loss widened 402% from 1H 2025). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.5m free cash flow). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m (AU$84k revenue, or US$60k). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$103.8m market cap, or US$73.4m). New Risk • Mar 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$43k revenue, or US$30k). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$120.4m market cap, or US$84.5m). New Risk • Feb 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$43k revenue, or US$30k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$108.0m market cap, or US$76.4m). Announcement • Oct 08
Emperor Energy Limited, Annual General Meeting, Nov 13, 2025 Emperor Energy Limited, Annual General Meeting, Nov 13, 2025. Location: celtic club, 48 ord st, west perth, wa 60005 Australia Announcement • Jul 09
Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3.72 million. Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3.72 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 120,000,000
Price\Range: AUD 0.031
Discount Per Security: AUD 0.00186
Transaction Features: Subsequent Direct Listing New Risk • May 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Revenue is less than US$1m (AU$8.8k revenue, or US$5.7k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$20.6m market cap, or US$13.4m). Announcement • Apr 22
Emperor Energy Limited Appoints Douglas Jendry as Director and Chairman Emperor Energy Limited advised that it has appointed Douglas (Doug) Jendry as a Director of the Company and he has subsequently been elected to the role of Chairman of the Board. Doug Jendry is a highly experienced oil and gas executive with comprehensive experience both in Australia and internationally. Mr. Jendry has held numerous board positions and executive management positions in the oil and gas sector and recently served on the boards of IPB Petroleum Limited, Talon Energy Limited, Capricorn Metals Limited and is an advisor to the Nero Resources Fund. Doug Jendry will bring an important set of skills and experience to Emperor in the ongoing corporate development to the company. Announcement • Dec 19
Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million. Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 130,434,783
Price\Range: AUD 0.023
Discount Per Security: AUD 0.00138
Transaction Features: Subsequent Direct Listing New Risk • Nov 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 89% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Shareholders have been substantially diluted in the past year (89% increase in shares outstanding). Revenue is less than US$1m (AU$4.2k revenue, or US$2.7k). Market cap is less than US$10m (AU$13.9m market cap, or US$9.02m). Announcement • Nov 12
Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.89075 million. Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.89075 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 127,249,958
Price\Range: AUD 0.007
Discount Per Security: AUD 0.00042
Transaction Features: Subsequent Direct Listing New Risk • Oct 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 68% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m (AU$4.2k revenue, or US$2.9k). Market cap is less than US$10m (AU$8.60m market cap, or US$5.78m). Announcement • Oct 09
Emperor Energy Limited, Annual General Meeting, Nov 07, 2024 Emperor Energy Limited, Annual General Meeting, Nov 07, 2024. Location: at level 4, 55 york street, sydney nsw 2000 Australia Announcement • Apr 30
Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.01 million. Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.01 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 909,091
Price\Range: AUD 0.011
Transaction Features: Subsequent Direct Listing Announcement • Apr 10
Emperor Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.1 million. Emperor Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 1.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 100,000,000
Price\Range: AUD 0.011 New Risk • Mar 07
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$897k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$897k free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$5.11m market cap, or US$3.36m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). Announcement • Dec 29
Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.05 million. Emperor Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.05 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,250,000
Price\Range: AUD 0.008
Transaction Features: Subsequent Direct Listing Announcement • Dec 28
Emperor Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 0.05 million. Emperor Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 0.05 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,250,000
Price\Range: AUD 0.008
Transaction Features: Subsequent Direct Listing New Risk • Nov 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.45m market cap, or US$1.59m). Minor Risk Shareholders have been diluted in the past year (14% increase in shares outstanding). Announcement • Oct 18
Emperor Energy Limited (ASX:EMP) entered into asset sale and purchase agreement to acquire 3 Mining Leases located between Townsville and Charters Towers City in North Queensland for AUD 0.5 million. Emperor Energy Limited (ASX:EMP) entered into asset sale and purchase agreement to acquire 3 Mining Leases located between Townsville and Charters Towers City in North Queensland for AUD 0.5 million on October 16, 2023. The transaction is subject to Emperor Energy completing its due diligence by October 31, 2023, Emperor Energy completing a capital raising to fund the acquisition, Emperor Energy receiving confirmation of approval of an amendment to the existing Environmental Authority for the Mining Leases to allow for an exploration drilling program, Emperor Energy receiving confirmation from the Landowner that it will consent to Emperor Energy entering onto the area of the Mining Lease to conduct exploration and mining activities, seller receiving notice to the effect that, subject to compliance with the Resources Act and on conditions reasonably acceptable to Emperor Energy, the Minister will or is likely to approve the transfer of the Mining Leases to Emperor Energy in accordance with the Resources Act and Emperor Energy receiving all regulatory and third-party approvals necessary to give effect to the transfer of the Mining Leases and Emperor Energy receiving a valid assignment, assumption, adherence, novation or transfer of all Material Contracts duly executed by the Seller and all relevant third parties. The acquisition is expected to be completed prior to March 31, 2024. New Risk • Sep 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.0m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m (AU$3.3k revenue, or US$2.1k). Market cap is less than US$10m (AU$3.23m market cap, or US$2.08m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (15% increase in shares outstanding). New Risk • Sep 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.0m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m (AU$3.3k revenue, or US$2.1k). Market cap is less than US$10m (AU$4.03m market cap, or US$2.57m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Dec 22
Emperor Energy Limited Announces Market Update Emperor Energy announced that Judith Gas Field production well modelling has been revised using a total of five (5) vertical production wells from commencement of gas production to produce 125mmscf/day sustained across a minimum period of 12 years. This is a 50% increase from the previous production modelling at 80mmscf/day using a 4-well field development. In the revised modelling, production rates decline gradually after 12 years remaining at 87mmscf/day after 20 years. The revised modelling also incorporates higher gas saturations in the Judith and underlying Longtom gas sands as determined by recent corrections to the Judith-1 Well petrophysical log interpretation. This variation to gas saturations was detailed in the Judith Gas Field Resource Statement released by Emperor Energy on 13th October 2022. Emperor Energy also advises that the respected global natural resources research and consultancy business, Wood Mackenzie, have been commissioned to provide an updated independent economic modelling analysis of the Judith Gas Field project. The analysis will be carried out for the new base case of 125mmscf/day production rate. Results of the economic analysis will be available in January 2023. Emperor Energy further advises that in the Company's opinion, the recent gas price cap imposed by the Australian Government does not detract from the economic viability of developing the Judith Gas Field. The Judith gas field is located in a prime position with respect to the Eastern Australia gas market, being proximal to the domestic gas demand state (Victoria) where gas supply will be critical to support the transition to renewal energy sources and the reduction in the high emissions generated by brown coal fired electricity generation. Emperor Energy considers that the Judith Gas Field presents a great opportunity to develop a new, competitively priced domestic gas supply when compared to LNG imports or gas transported over long distances. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Nigel Harvey was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Nov 03
Emperor Energy Limited, Annual General Meeting, Nov 30, 2022 Emperor Energy Limited, Annual General Meeting, Nov 30, 2022, at 11:00 AUS Eastern Standard Time. Location: Level 4, 55 York Street, Sydney New South Wales Australia Agenda: To consider Receipt and consideration of Accounts & Reports; to consider Adoption of Remuneration Report; to consider Re-election of Carl Dumbrell as Director of the Company; to consider Ratify prior share placement; to consider Approval of options - investors; to consider Approval of options - broker; to consider Placement or issue of Securities; to consider Approval of 10% Placement Facility. Announcement • Oct 13
Emperor Energy Limited advises Independent Resource Statement Vic/P47 Permit, Judith Gas Field The Directors of Emperor Energy Limited (Emperor) advised that an Independent Resource Statement has been completed for the full Latrobe sequence (Golden Beach and Emperor Sub-groups) within the 100% Emperor Energy owned Vic/P47 Exploration Permit located in the offshore Gippsland Basin, Victoria (Figure 1). Independent geological consultants 3D-GEO Pty Ltd. have previously (March 2022) assessed the gas-in- place and recoverable gas volumes in the Kipper and Golden Beach sands overlying the Judith-1 gas discovery, and now recently have revised the resource estimates within the Judith and Longtom sandstones within Vic/P47. This revision for the Judith and Longtom reservoir sands follows receipt of additional reservoir and development engineering data from the nearby Longtom and Kipper analogue gas fields and subsequent further interpretive analysis undertaken. 3D-GEO has now completed its revised assessment of the Prospective Resources contained in the Judith and Longtom sands. The resources presented are 100% attributable to Vic/P47, of which Emperor Energy holds 100% equity. An Independent Technical Specialist's Report comprising the Judith and Longtom Sand revised Contingent and Prospective Resources was provided to Emperor Energy on 11 October 2022 by 3D-GEO Pty Ltd. Judith-1 was drilled and operated by Shell Company of Australia in 1989 and is contained within the Vic/P47 Permit held 100% by Emperor Energy and located on trend to the Longtom and South East Longtom analogue gas fields and within close proximity of the Esso operated Kipper Gas Field (Figure 2). On 5 July 2019 after extensive technical evaluation studies, 3D-GEO provided Emperor Energy with a Resource Statement relating to the Judith and Longtom Gas Sands within the Judith Gas Field. The statement evaluated 7 separate reservoirs (4 Judith gas sands and 3 Longtom sands) within seven separate fault blocks (Figure 3). This statement assessed a P50 Unrisked Prospective Gas Resource of 1.226 Tcf along with a 150 Bcf Contingent Resource (probabilistic assessment) within the Vic/P47 Permit area. On 30 December 2020 Emperor Energy announced that the National Offshore Petroleum Titles Regulator (NOPTA) has approved the Company's application to extend the primary term of the Vic/P47 Exploration Permit by a period of 30 months requiring the drilling of the Judith-2 Exploration/Appraisal Well by August 2023. During 2020, global seismic acquisition company CGG acquired a Multi-Client 3D seismic volume over a large portion of the Gippsland Basin, including the Judith Gas Field. Emperor Energy purchased a license to access part of this seismic volume and the final processed data covering the Judith and Kipper Gas Fields was made available to Emperor Energy in November 2021. Emperor Energy and 3D-GEO subsequently carried out extensive interpretation and modelling with the new seismic data (Figure 4). In March 2022, 3D-GEO provided Emperor Energy with a Resource Statement relating to the Kipper and Golden Beach Sandstones, tied back to the Kipper-1 gas discovery. This statement assessed a P50 Unrisked Prospective Gas Resource of 622 Bcf (probabilistic assessment) within the Vic/P47 Permit area. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Nigel Harvey was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 07
Emperor Energy Limited Announces an Independent Resource Statement Completed for the Kipper and Golden Beach Sands The Directors of Emperor Energy Limited announced that an Independent Resource Statement has been completed for the Kipper and Golden Beach sands overlying the Greater Judith Gas Field within the 100% Emperor Energy owned Vic/P47 Exploration Permit located in the offshore Gippsland Basin, Victoria Independent geological consultants 3D-GEO Pty Ltd. have assessed the gas-in-place and recoverable gas volumes in the Kipper and Golden Beach sands overlying the Judith-1 gas discovery within Vic/P47. This follows interpretation of new seismic data over Vic/P47 from CGG's Multi Client 3D seismic survey acquired in 2020. Final processing of the seismic data was completed in November 2021. 3D-GEO has now completed its assessment of the Prospective Resources contained in the Kipper and Golden Beach sands, tied-back to the adjacent Kipper Gas Field. An Independent Technical Specialist's Report comprising the Kipper and Golden Beach Prospective Resources was provided to Emperor Energy on 31 March 2022 by 3D-GEO Pty Ltd. The review of the Judith prospective resources focused on: Interpretation of the newly acquired/processed CGG 3D seismic volume; Remapping and 3D modelling of the Judith and Longtom sands; AVO/Attribute analysis of the CGG seismic volume for gas sands; Review of offset well data, particularly Kipper and Golden Beach Sands in the Kipper Gas Field; Interpretation and mapping of the Kipper and Golden Beach sands over the Greater Judith area and Volumetric assessment of resources in the Kipper and Golden Beach sands in Vic/P47 The new CGG seismic volume has verified the previous modelling of the Judith and Longtom gas sands and the improved data quality allowed for further AVO and attribute work to be completed, subsequently reducing risks on the extent of the gas filled sands. The CGG 3D seismic volume also significantly improved the data quality in the shallower Kipper and Golden Beach sands that overly the Judith Gas sand accumulation. 3D-GEO conducted detailed petrophysical analysis of the Kipper and Golden Beach sands in the Judith-1 and Kipper-1 wells. Gas/Water saturations were analysed and porosity vs depth plots were generated and used to generate the range of reservoir parameters across the Greater Judith Structure. Interpretation of the CGG 3D seismic volume was undertaken by Emperor Energy. This seismic interpretation extends across the Greater Judith closure and south to cover the Kipper Gas Field. 3D-GEO then took the horizon mapping generated from the seismic interpretation and conducted AVO/Attribute analysis which identified gas presence within the sand units. The Kipper Sandstone as penetrated in the Kipper-1 well is a 157m thick, good quality sandstone that is gas filled. The seismic shows bright yellow AVO response at the well, extending across the bounding fault into Vic/P47. This sand is not present in the Judith-1 well, however interpretation of the well data and the new 3D seismic volume indicates that the Judith-1 well intersected a fault at this level and the sand was faulted-out. The Upper Golden Beach sequence is 132m thick with approximately 50m of net sand at the Kipper-1 well where it is gas filled. There is a sand unit at the base of the Upper Golden Beach that extends across the Vic/P47 permit until it subcrops beneath the Kipper Sandstone. This sand is well developed in the Judith-1 well, with gas shows. The log analysis indicates that overweight drilling mud is likely to have invaded this porous sandstone thereby affecting log response of the formation properties, and therefore this prospective section may have been previously overlooked. The Lower Golden Beach sequence is 164m thick, however has only 8% net sand at the Kipper-1 well. The gas/water contact (GWC) for the main Kipper Field gas accumulation (2285m subsea) is located within the upper part of the sequence. On selective seismic lines the Gas-Water Contact (GWC) can be seen as a flat- spot reflector that appears to cross the Kipper bounding fault. Announcement • Feb 03
Emperor Energy Limited announced that it expects to receive AUD 1.5 million in funding Emperor Energy Limited announced a private placement of 37,534,117 shares at a price of AUD 0.04250 per share for gross proceeds of AUD $1,500,000 on February 3, 2022. The transaction will include participation from existing shareholders who qualify as sophisticated or professional investors and other investors. The transaction is expected to close on February 8, 2022. Announcement • Jan 28
Emperor Energy Limited Announces Update on Judith Gas Project Emperor Energy's key focus is the development of the Judith Gas Project located 40km offshore from the Orbost Gas Plant in the Gippsland Basin, Victoria. The project objective is to establish a sales gas capacity of 80TJ per day equivalent to 28PJ per year over a minimum production period of 15 years with the value of gas and condensate sales exceeding $A300M per year based on AEMO mid-range pricing forecasts. shows a 3-dimensional structural image of the Greater Judith Structure defined by interpretation and mapping of the top of the Judith Gas Sand 1 using the latest PSDM seismic data. Emperor Energy is pleased to advise of the very strong results achieved from recent Amplitude Versus Offset (AVO) analysis using the final, fully processed 3D PSDM seismic data received from international seismic acquisition company CGG in November 2021. This fully processed seismic data has provided the best clarity and definition of AVO response, used as a Direct Hydrocarbon Indicator (DHI), yet seen across the Judith structure and gas field. AVO analysis compares the seismic amplitude response recorded from geophones located close to seismic signal source (Near gathers) with amplitude data from other geophones located at a greater distance away (Far gathers). The AVO computation allows a comparison in the variations of fluid properties present in the porous space of the target gas sands and provides a calculated geophysical interpretation of where the sand formations are gas charged or water filled. This can provide a good predictor for gas other than drilling. Signal strength and data quality is higher in flat- lying strata (e.g. around Judith-1) but both diminish in dipping beds and where the signal is diffracted by faults. the AVO Shuey Fluid Factor response brightens within the horizons of the Judith Gas Sands defined by the Gamma Ray at Judith-1. This provides confidence in looking at the extension of AVO response across the Judith Structure as the AVO response is calibrated against the AVO response in gas sands at the Judith-1 well. Also apparent in Figure 3 is the strong response of the Longtom Gas Sands below the TD of Judith-1. These sands provide an exploration target not previously intersected at Judith-1. Gas has been commercially produced from these sands at the nearby Longtom Gas Fields located 15km to the west. 3. AVO Response in the Judith Gas Sands 1 and 2 Results of the AVO analysis shown in Figures 4 and 5 indicate very strong AVO Shuey Fluid Factor response for the Judith Gas Sands 1 and 2. Similar strong responses are also observed in Judith Gas Sands 3 and 4. In both cases, AVO analysis shows strong AVO Gas Indication (brightening to orange) extending across the Judith structure, up-dip from Judith-1 to the proposed Judith-2 wellsite. The extent of the strong AVO response indicates interpreted gas extending over more than 500m of vertical relief across the Judith structure terminated by the Rosedale Fault to the north. This is the strongest evidence to date supporting the 1.226 Tcf Unrisked Prospective Gas Resource estimate previously published for the Judith Gas Field (3D-GEO, July 2019). 4. AVO Response in the Longtom 200 Gas Sands AVO evaluation of the Longtom 200 sand, like the Judith sands above, again shows strong AVO Fluid Factor response with gas indications extending across the Judith Structure. AVO response is particularly strong in the Judith South Block. The strong AVO response extends from the southern boundary of the permit area up-dip and across structural closure beyond the planned Judith-2 well location. This strong AVO gas response is evident over more than 500m of vertical relief, similar to the Judith Gas Sands 1 and 2. The interpreted Longtom 200 gas sand and other Longtom sands are located beneath the Total Depth of the Judith-1 well. These sands have not been previously intersected in the Judith Structure however their presence is clearly visible on the new seismic data. The Longtom Sands provide significant exploration upside potential for the planned Judith-2 well that is designed to intersect the Longtom 200 sands at a depth of pproximately 3000m. Based on Seismic correlations this sand is the equivalent of the main gas producing sand at the Longtom Gas Field located 15km to the west of Judith. The strong AVO response of the Longtom 200 Gas Sands in the south of the permit area indicates a potential upside to the resource estimate currently in place for this area. 5. Kipper Sand and Golden Beach Formation Play The fully processed seismic data allows for a significantly better seismic evaluation of the section above the Judith Gas Sands that has not been seen previously on the older vintage seismic. This has resulted in identification of a Kipper and Golden Beach Reservoir Sand Play extending up-dip from the Kipper Gas Field across the Judith Structure and extending past the proposed Judith-2 wellsite where the interpreted thickness of these gas sands is approximately 200m. The top seal of this play is interpreted as the overlying Campanian Volcanics with the Rosedale Fault providing the up-dip lateral seal. This newly identified play provides potential for a substantial resource addition. This potential is considered significant due to the known higher porosities and permeabilities of the Kipper and Golden Beach formations. Emperor Energy is now assessing AVO Response of these upper sands. Announcement • Dec 23
Emperor Energy Limited Announces Receipt of Final Fully Processed Seismic Data Emperor Energy Limited announced that final fully processed seismic data is received. Judith Gas Project Objectives: Emperor Energy's key focus is the development of the Judith Gas Project located 40km offshore from the Orbost Gas Plant in the Gippsland Basin, Victoria. The project objective is to establish a sales gas capacity of 80TJ per day equivalent to 28PJ per year over a minimum production period of 15 years. The project requires drilling of a successful Judith-2 appraisal well in early 2023 to appraise and prove Gas Reserves and subsequently provide economic justification for gas field and processing plant development leading to targeted commercial production of sales gas in 2027 or earlier. A project pre-feasibility study completed by gas pipeline company APA during 2020 provides a clear understanding of the infrastructure path and cost required to achieve commercial production. Final Processed 3D Seismic Data and Report Received from CGG: Over the previous 3 years Emperor Energy has systematically analysed all available data from the Judith-1 Well (drilled in 1989) along with data from other nearby wells and previous seismic surveys across the area to define a large Prospective Resource and smaller Contingent Resource. Emperor Energy is now pleased to advise that it has received the final fully processed version of HighResolution 3D seismic data from the Multi Client 3D seismic survey completed in 2020 across the offshore Gippsland Basin by CGG. The final processed data provides a significant improvement from the preliminary `Fast-Track' PSDM data previously received in mid-2021. The new data provides improved seismic imaging, event coherency and positioning. Seismic events and faults are imaged with much more clarity resulting in greater certainty of interpretation. The improved clarity of seismic interpretation for both the Judith and Longtom reservoir sequences is seen in the composite seismic line shown in Figure 2 below. The continuation of amplitudes associated with these gas sands is seen to extend up-dip in the Judith structure to the proposed Judith-2 well site. Announcement • Jun 22
Emperor Energy Limited announced that it has received AUD 1.025 million in funding On June 21, 2021, Emperor Energy Limited (ASX:EMP) closed the transaction. The company issued 34,166,665 shares for gross proceeds of AUD 1,024,999.95. The company paid advisory fee of up to 6% of the proceeds raised. Announcement • Jun 18
Emperor Energy Limited announced that it expects to receive AUD 0.9749 million in funding Emperor Energy Limited (ASX:EMP) announced a private placement of 32,496,667common shares at an issue price of AUD 0.03 for gross proceeds of AUD 974,900 on June 18, 2021. The transaction is oversubscribed. The transaction will include participation from professional, sophisticated and other exempt investors. The transaction is expected to close on June 18, 2021. Announcement • Jun 11
Emperor Energy Limited Announces Positive Initial Results of AVO Analysis Using Recently Acquired 3D Seismic Data Emperor Energy announced that its' team of consulting geologists and geophysicists is currently progressing through analysis of the Multi Client 3D Seismic Data that was acquired across the Judith Gas Field in mid-2020 by global seismic company CGG. The data was first accessed by Emperor Energy in April 2021 after completion of a commercial agreement with CGG for the purchase of a license to access the newly acquired 3D seismic data. The initial phase of technical work has been to complete a revised analysis of the Judith structure through interpretation of the new seismic data to then develop new structural mapping and a 3-dimensional view of each gas bearing reservoir sand penetrated by the Judith-1 Discovery Well. The interpreted base of the Judith Gas Sand 2 across a depth range of 1600m to 3000m below the sea floor. Similar maps have been produced for other gas sand horizons. The Judith Gas Field fits into a regional perspective including the Longtom and Kipper gas fields. The quality of the Seismic data has allowed Emperor's geologists and geophysicists to build an updated and more accurate structural interpretation of the Judith Gas Field. There is a dramatic improvement in data resolution across the entire gas field except for relatively small areas at the top of the structure close to the major Rosedale Fault where the combination of steep dips and fault shadow effects still leaves these high areas with some reduction in seismic resolution. The new data provides a significant step forward in the level of detail available to define the Judith Gas Field and contributes significantly to the de-risking of the proposed Judith-2 Well. Emperor Energy considers the quality of the data and output from its' analysis fully justifies the seismic license expenditure to access the data. AVO Analysis of Judith Gas Sands 2 and 3: The next phase of work carried out was Amplitude Versus Offset (AVO) analysis and modelling that provides a Direct Hydrocarbon Indicator (DHI) in these reservoir sands across the Greater Judith Structure. The AVO analysis compares the seismic amplitude response that has been recorded from geophones located comparatively close to seismic signal source with data from those geophones located at distance from the seismic signal source. AVO allows a comparison in the variations of fluid properties present in the porous space of the target gas sands. These variations have then been calibrated against data from the gas bearing zones of the existing Judith-1 Well (Drilled by Shell in 1989) and from equivalent gas bearing sands in the nearby Kipper-1 gas discovery drilled and developed as a producing gas field by Exxon Mobil. AVO analysis provides a calculated geophysical interpretation of where the sand formations are gas charged and not water filled and provides the best available prediction for gas other than drilling. Results of the AVO analysis have been very encouraging. The outcome of AVO analysis for the Judith Gas Sand 2 and Judith Gas Sand 3. These gas sands have net pay thicknesses of 45m and 85m respectively with a non-gas bearing interval between them of 72m. In both cases the AVO analysis shows strong AVO Gas Indication (brightening to orange) across the Judith Structure both within and outside the VicP/47 Permit area, including at Kipper-1 to the southeast where gas was recovered during drilling. Faults that have been interpreted from the seismic data can been seen as darker areas in the AVO response map providing an indication of the extent of the accuracy of data interpretation and the AVO response. The extent of the strong AVO response indicates interpreted gas extending over more than 500m of vertical relief through the permit area with the gas response extending up-dip in the Judith Gas Field from the Judith-1 Well. This adds considerable support to the Prospective Resource estimates previously published for the Judith Gas Field. AVO Analysis of Longtom 200 Gas Sand: The interpreted Longtom 200 gas sand and other Longtom sands are located beneath the Total depth of the Judith-1 Well and have not been previously intersected in the Judith Structure however their presence is clearly visible on the new seismic data. They are seen as providing significant exploration upside for the planned Judith-2 Well that is designed to intersect the Longtom 200 sands at a depth of approximately 3000m. Based on Seismic correlations this sand is the equivalent of the main gas producing sand at the Longtom Gas Field located 15km to the west of Judith. AVO analysis in the Longtom 200 sand again shows strong AVO response with gas indications extending across the Judith Structure. The strong AVO response extends from the southern boundary of the permit area up-dip and across the structural closure beyond the planned Judith-2 Well location. The strong AVO gas response is evident over more than 500m of vertical relief, similar to the Judith Gas Sands 2 and 3. Further Mapping and AVO to be Carried Out: The preliminary Structural Interpretation and AVO analysis to date has concentrated on evaluation of Judith Gas Sand 2, Judith Gas Sand 3 and the Longtom 200 Gas Sand. Further analysis is to be carried out on the Judith Gas Sand 1, Judith Gas Sand 4, various additional Longtom sands and the extension of the Kipper Gas Sands into the Vic/P47 Permit area. Reported Earnings • Mar 20
First half 2021 earnings released: AU$0.003 loss per share (vs AU$0.019 loss in 1H 2020) First half 2021 results: Net loss: AU$303.5k (loss narrowed 77% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Emperor Energy Limited announced that it expects to receive AUD 4.2 million in funding from Fortescue Metals Group Limited Oil Basins Limited (ASX:OBL) announced a private placement of 120,000,000 common shares at a price of AUD 0.035 per share for gross proceeds of AUD 4,200,000 on November 15, 2012. Shares will be issued to new investor Fortescue Metals Group Limited for approximately 18% stake in the company. The company will also issue 100,000,000 unlisted options exercisable at a price of AUD 0.09 till June 30, 2016. 54,000,000 options will be issued immediately and 46,000,000 options will be subject to an affirmative vote at an extraordinary general meeting of shareholders to be held on or before January 15, 2013. In the event the 46,000,000 options are not issued the price will be reduced by AUD 690,000. The transaction is expected to be closed in next five business days. The investor will also have a right to appoint one senior representative to the company's board of directors. 