• Independent audit by GaffneyCline confirms 166 Bcf 2C Contingent Resource and 1.86 Tcf Unrisked Prospective Resource
• $3.7M placement completed to advance Judith-2 appraisal well
• Environmental approval for Judith-2 well progressing through NOPSEMA

Emperor Energy has announced a material upgrade to the gas resource base at its Judith Gas Field in the Gippsland Basin, offshore Victoria, following an independent audit by global energy consultants GaffneyCline. The Judith Gas Field is now assessed to host a 2C Contingent Resource of 166 Bcf, with an additional 1.859 Tcf of P50 Prospective Resources identified in the Judith and Longtom Gas Sands across the Vic/P47 permit. The audit was based on a recently updated 3D geological static model and volumetric resource estimates developed by Emperor's geological consultants 3D-GEO, using modern 3D seismic data. GaffneyCline reviewed the reservoir parameters, seismic interpretation, and AVO analysis, confirming the data and interpretations. In a separate announcement, Emperor Energy reported that it has received firm commitments to raise approximately $3.7 million via a placement of new shares. The funds will be used to advance activities to drill the Judith-2 appraisal well, including securing a jack-up rig currently operating nearby in the Gippsland Basin. Additionally, the company has submitted an Environmental Plan to NOPSEMA for approval to drill the Judith-2 well, which has progressed through the completeness check and public consultation process.

Emperor Energy is now actively advancing plans for well funding with strategic partners and is progressing negotiations to secure a drilling rig for the Judith-2 appraisal well, scheduled for mid-2026. The company is positioned to contribute to domestic energy security with the significant certified resource base and proximity to key infrastructure.