• Independent audit confirms 166 Bcf 2C Contingent Resource and 1.86 Tcf Prospective Resource in Judith Gas Field
• $3.7M placement completed to advance Judith-2 appraisal well
• Commencement of farm-in process for Judith-2 well funding
• Appointment of Steven Marshall as Chief Operating Officer

Emperor Energy Ltd has announced a material upgrade to the gas resource base of its Judith Gas Field 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 company has also successfully completed a $3.7 million placement to advance the Judith-2 appraisal well, including securing long lead time items and negotiating to secure the Valaris 107 jack-up rig currently operating nearby in the Gippsland Basin. Additionally, Emperor Energy has commenced the farm-in process in connection with the funding of the Judith-2 Appraisal Well, which is scheduled for drilling in H2-2026 and located near existing pipeline infrastructure. The company has appointed Argonaut Corporate Finance Limited as exclusive financial advisor and Mumford Commercial Consulting to assist with the farm-in process.Further, the company has appointed Steven Marshall as Chief Operating Officer in preparation for the drilling of the Judith-2 Appraisal Well. Steven Marshall brings a wealth of well management experience, including successful recently drilled wells for both GB Energy and CarbonNet in the Offshore Gippsland Basin.

The commencement of the farm-in process for the Judith-2 appraisal well represents a pivotal step in unlocking the significant potential of the Judith Gas Field. Success at Judith-2 could establish a material new source of domestic gas supply, providing substantial value to Emperor Energy's shareholders and long-term energy security for the region.