Emperor Energys AU$3 Million Capital Raise to Advance Gas Exploration

Highlights:

• AU$3.0 Million Capital Raise: Emperor Energy (ASX: EMP) secured firm commitments to raise AU$3.0 million via a placement of 130.43 million shares at AU$0.023 per share, with strong support from institutional and sophisticated investors.
• Funds Allocation: Proceeds will be used for advancing the Judith-2 Well, including environmental planning, well design, and other activities within Exploration Permit Vic/P47.
• Appointment of Technical Partners: Emperor Energy has appointed renowned technical partners such as AGR, GaffneyCline, Xodus, Jasco, and RPS to provide independent reports and support the development of the Judith Gas Field.

Successful Placement and Strong Support

Emperor Energy Limited (ASX: EMP) has announced a successful capital raise of AU$3.0 million through a placement of approximately 130.43 million fully paid ordinary shares at an issue price of AU$0.023 per share. This represents an 8% discount to the company's last closing price of AU$0.025 on December 16, 2024, and an 11.7% discount to the 15-day volume-weighted average price (VWAP) of AU$0.026. The placement attracted robust support from existing shareholders, new domestic institutions, and sophisticated investors, underscoring confidence in Emperor Energy's strategic direction.

Focus on Judith-2 Well Development

The funds raised will be allocated towards advancing the Judith-2 Well within Exploration Permit Vic/P47. Key activities include preparing and submitting the Environmental Plan to NOPSEMA, progressing the detailed design and planning for the Judith-2 Well, and supporting ongoing corporate and administrative operations. This development is critical for unlocking the potential of the Judith Gas Field.

Appointment of Strategic Technical Partners

To bolster its progress, Emperor Energy has engaged a suite of highly regarded technical partners, including AGR, GaffneyCline, Xodus, Jasco, and RPS. These partners will provide independent reports essential for advancing the Judith Gas Field and facilitating the involvement of an investment consortium. Argonaut, the strategic advisor, is assisting the company in securing this consortium to finance the drilling and further development of the Judith-2 Well.

Trading Resumption and Key Dates

At the time of writing, Emperor Energy’s shares are set to resume trading on December 18, 2024. Settlement of the new shares is expected by December 23, 2024, with allotment and quotation scheduled for December 24, 2024.

This capital raise represents a significant step forward in Emperor Energy's mission to develop the Judith Gas Field and capitalize on its potential within the Australian energy landscape.

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