- Revised Judith-2 appraisal well EP submitted to NOPSEMA
- Extensive suite of EP modifications made
- Tenders released for drilling support services
- Negotiations for Valaris-107 drill rig contract progressing
Emperor Energy (ASX:EMP) is finalising a number of key matters as it progresses plans for the drilling of Judith-2 appraisal well off the coast of Victoria.
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Planned to be drilled late in Q1, CY27, Judith is the largest undeveloped conventional gas field on the East Coast of Australia.
The field has been independently assessed to contain 166 billion cubic feet (BCF) of 2C contingent recoverable gas resource along with a 1,859 BCF of P50 prospective recoverable gas resource.
Emperor Energy recently submitted a revised version of the Judith-2 Well environmental plan (EP) to the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA), addressing all issues raised by NOPSEMA in an earlier request for further information.
Submission of the revisions completes an extensive suite of preparatory work and documentation while incorporating input from key service providers in the development of response plans.
Elsewhere, Emperor Energy has secured supply of the identified long lead time equipment required to drill Judith- 2 including the surface wellhead, surface conductor casing and multiple casing strings.
The well engineering and planning process has now progressed to focus on key service suppliers with tenders currently released for drilling consumables, mudlogging, directional drilling, wireline logging and logging while drilling (LWD). Further tenders are close to being released for cementing and shore-based services.
A successful contractor has been selected for a site geophysical survey that is being planned for August to identify any sea-bed hazards or shallow gas risk.
A contractor has also been selected for flow testing of Judith-2.
Emperor Energy reported it has progressed revisions of draft contract terms with Valaris and the two parties are now progressing into regular negotiations to finalise a drilling contract for the well.
The Valaris-107 Jack-up Drill Rig is currently operating in the offshore Gippsland Basin and Valaris has confirmed it is available in March 2027.
Gas was discovered in the Judith field in 1989 by the Judith-1 exploration well drilled by Shell Australia. At that time, the discovered gas resource was not considered for further development given market conditions and an abundance of existing gas supply from other fields in the Gippsland Basin.
Emperor Energy has reassessed all available data from the Judith gas field including that of a recent 3D seismic survey.
This reassessment has resulted in Emperor Energy now considering that a substantial economic gas resource exists at Judith.
The Judith-2 appraisal well drilling program will enable a detailed appraisal of this gas resource and if successful will provide Victoria with additional gas reserves as production from existing fields declines.
EMP is up 4.17% to 10.0¢. Mkt cap $93.72M.
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