Oz Emperor in Talks to Transport Judith's Gas
ASX-listed explorer Emperor Energy has signed a memorandum of understanding that could see Australian midstream operator help transport gas from its Judith field off the coast of Victoria.
Emperor said on October 16 that the agreement was “a major milestone in progressing the development of the Judith gas field,” situated in the Gippsland basin. It paves the way for the pair to negotiate terms on the provision of midstream infrastructure for Judith’s gas, the company said in a statement.
They have been discussing Judith’s development for more than a year, it said.
Emperor, the 100% owner of the VIC/P47 permit containing the field, has also been searching for a farm-in partner to move the project through exploration and appraisal and into development.
“Strong interest has been shown by a range of quality upstream industry participants,” it said. “Discussions have progressed under confidentiality agreements with a significant number of parties who have now received management and technical presentations and are accessing the data room.”
An independent evaluation completed in July placed VIC/P47’s 2C contingent gas resources at 150bn ft3, with P50 unrisked prospective gas of 1.226 trillion ft3 – significantly more than was previously estimated. Emperor said it was “confident” a farm-in partner could be secured to drill a well targeting Judith’s large prospective resources. This borehole will be located up-dip from the original Judith-1 discovery well drilled by Shell in 1989.