Thursday 22 November 2018

Highlights

- Simulated Judith Production Wells estimated to each deliver 20 to 30 Million Standard Cubic Feet Per Day (MMcf/d) (3D-GEO)

- Production Simulation indicates the Judith Closure can deliver 29 Billion Cubic Feet Per Year (Bcf/year) for 20 years using a simple 5 well development plan (3D-GEO)

- Judith Closure within VIC/P47 contains a total Gas Resource of 966 Bcf Sales Gas as determined by Independent Resource Certifier, RISC (November 2018) released in Emperor Energy market announcement 12th November 2018.

Summary

On 12th November 2018 Emperor Energy Limited (Emperor) advised that an Independent Resource Statement had been completed for the Judith Gas Field within the 100% Emperor Energy owned Vic/P47 Exploration Permit located in the offshore Gippsland Basin, Victoria.

The Independent Resource Certifier RISC apportioned resources in accordance with the Society of Petroleum Engineers’ internationally recognised Petroleum Resources Management System (SPE-PRMS 2007), identifying a 2C Contingent Resource of 122 Bcf recoverable Sales Gas within the Judith-1 discovery block and an additional P50 Prospective Resource of 844 Bcf Sales Gas in the Greater Judith structure within Vic/P47.

Dynamic Reservoir modelling completed by 3D-GEO now simulates vertical well production rates up to 30 MMcf/d, with a five well development plan simulating a gas production of 29 Bcf /year totaling 580 Bcf of Raw Gas over a 20-year plateau period. An additional 300 Bcf of gas production is forecast over the following 15-year production decline period.

Full announcement here.