Emperor Energy (ASX:EMP), an Australian gas exploration company focused on developing the Judith Gas Field within the Gippsland Basin, has announced it has secured firm commitments to raise approximately $17.5 million through a placement. Emperor Energy is progressing the strategic funding process for the Judith-2 Appraisal Well and has received positive engagement from a range of domestic and international gas market participants who have expressed interest in entering into gas pre-sales agreements and/or an asset farm-in.
The placement involves the issue of approximately 145.8 million new fully paid ordinary shares at a price of $0.12 per new share. The company received strong support from existing shareholders, as well as new domestic institutional and sophisticated investors. The issue price represents a 14.3% discount to Emperor’s last close of $0.140 per share on 10 March 2026.
According to Emperor Energy, the funds raised will be used to advance the Judith-2 Appraisal Well within Exploration Permit Vic/P47. This includes securing the Valaris 107 jack-up drill rig for February 2027, tendering and securing required support services, completing the Environmental Plan approval process, completing the required Geophysical Survey of the well site, and covering corporate costs and working capital.
Emperor Energy Managing Director Tim Handley stated the successful outcome validates the scale and strategic potential of the Judith Gas Field amidst compelling market conditions. He added that Judith is potentially the largest new gas field on the East Coast of Australia in over a decade and is ideally positioned to contribute to domestic energy security.
