THE CONFERENCE CALLER: Emperor Energy’s (ASX: EMP) major asset is the company’s 100 per cent-owned Vic/P47 exploration permit in the Gippsland Basin next to the BHP/ExxonMobil Kipper field in Victoria.
Emperor Energy recently announced an Independent Resource Statement for the Judith Gas Field within the VIC/P47 Exploration Permit, compiled by consultants 3D-GEO Pty Ltd.
3D-GEO assessed the gas-in-place and recoverable gas volumes in the Judith-1 gas discovery and Greater Judith Structure following the merging and reprocessing of the Northern Fields and 3D seismic surveys in VIC/P47 conducted in 2016/17.
The statement declared a 2C Contingent Gas Resource of 150 billion cubic feet (Bcf); and a P50 Unrisked Prospective Gas Resource of 1.226 trillion cubic feet (Tcf).
Using data from the Judith1 Well along with Seismic interpretation of the Judith Structure, 3D-GEO produced Dynamic Modelling Results for the Judith Structure.
• A Four well development model indicated an 80 million standard cubic feet per day (MMscf/d) production rate can be maintained for 32 years;
• Gas production modelled at 29Bcf per year with 934Bcf of Raw Gas produced across 32 Years; and
• Simulated flow rates are of enough capacity to supply a plant of equivalent capacity to the existing onshore gas processing plant at Orbost.
Emperor Energy has appointed Ocean Reach Advisory to find a suitable Exploration and Production Partner to participate in the exploration and development of the Judith Gas Field.
The company is seeking a partner of suitable financial and technical capability to assist in the drilling of an exploration well at the offshore Judith Gas Field by February 2021.
Based on successful exploration results the partner would then proceed with development of the field in conjunction with Emperor Energy.