• GaffneyCline audits confirm 166 Bcf of 2C Contingent Resources and 1.859 Tcf of P50 Prospective Resources
• Potential to become a cornerstone gas supply project for South-East Australia
• Plans to drill Judith-2 appraisal well in mid-2026 to validate scale and potential

Emperor Energy Ltd has received an independent audit from global energy consultancy GaffneyCline, which has validated major gas resources within the Judith Gas Field in the Gippsland Basin of Victoria, Australia. GaffneyCline has estimated a 2C Contingent Resource of 166 Bcf within the Judith East Block, as well as a P50 Prospective Resource of 142 Bcf in the deeper Longtom Gas Sands. In total, GaffneyCline has audited 1.859 Tcf of unrisked P50 Prospective Resources across the Judith Gas Field. The Judith Gas Field is located near existing pipeline infrastructure, including the Tuna Platform and the Orbost Gas Plant, and has the potential to have a materially positive impact on the East Coast gas crisis. Emperor Energy holds 100% of the VIC/P47 permit, providing flexibility for deal structuring, farm-outs, and strategic partnerships. The company is now focused on unlocking the value of this asset, with plans to drill the Judith-2 appraisal well in mid-2026 to validate the field's scale and potential.

Emperor Energy is focused on advancing the Judith Gas Project, with plans to drill the Judith-2 appraisal well in mid-2026 to target the certified 2C Contingent Resource and the underlying Longtom Sandstone Prospective Resource. The company is also commencing a formal strategic process to attract an investment consortium to participate in the appraisal drilling campaign and to develop the Judith Gas Field.