Join our daily newsletter At The Bell to receive exclusive market insights
- Emperor Energy (EMP) has purchased a licence to acquire 3D seismic data covering the Judith Gas Field in Victoria from global seismic company CGG
- The licence provides Emperor Energy with access to survey data over and around the Judith Gas Field, comprising of 37 kilometres squared
- In exchange, the company will pay $732,180.90 over a 12-month period
- This new seismic data was acquired by CGG during 2020 as part of a multi-client 3D seismic survey that covered a portion of the Offshore Gippsland Basin
- A detailed interpretation and analysis of the seismic data will continue throughout April 2021
- Emperor Energy shares are trading flat at 3.7 cents
Emperor Energy (EMP) has purchased a licence to acquire 3D seismic data covering the Judith Gas Field in Victoria from global seismic company CGG.
The licence provides Emperor Energy with access to survey data over and around the Judith Gas Field, comprising of 37 kilometres squared. In exchange, the company will pay $732,180.90 in staged payments across a 12-month period.
This new seismic data was acquired by CGG during 2020 as part of a multi-client 3D seismic survey that covered a portion of the Offshore Gippsland Basin, including the Judith Gas Field.
Seismic acquisition was carried out using equipment and techniques incorporating 7000-metre-long acquisition cables to generate the highest quality reservoir resolution seen so far in the Gippsland Basin.
Preliminary processed 3D data, which includes a MAZ merge with CGG’s previous legacy reprocessed data, has been received by EMP with final processed data expected to be delivered by CGG later in 2021.
Initial examination of the new data by EMP’s consulting geologists and geophysics confirmed a major improvement in seismic data quality, compared to previous imagery, providing high definition across the Judith Gas Field and much of the Greater Judith Structure.
A detailed interpretation and analysis of the seismic data will continue throughout April 2021.
Emperor Energy shares are trading flat at 3.7 cents at 12:50 pm AEST.
