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The latest update is out from Emperor Energy Ltd ( (AU:EMP) ).
Emperor Energy Ltd has successfully raised approximately $3.7 million through a placement of 120 million new shares to institutional and sophisticated investors. The funds will be used to advance the Judith-2 Well to a final investment decision, including securing a drilling rig and other necessary items. This move follows the independent validation of significant gas resources in the Judith Gas Field, which is strategically positioned near existing infrastructure. The company aims to address the gas supply deficit on Australia’s east coast, and the successful capital raising positions Emperor Energy to progress towards drilling and potential partnerships for the project’s development.
More about Emperor Energy Ltd
Emperor Energy Ltd is an energy company operating in the oil and gas industry. Its primary focus is on the exploration and development of gas fields, with a significant emphasis on the Judith Gas Field located in the Gippsland Basin, Australia.
Average Trading Volume: 366,217
Technical Sentiment Signal: Hold
Current Market Cap: A$24.87M
Find detailed analytics on EMP stock on TipRanks’ Stock Analysis page.