Emperor Gets More Time to Drill Oz Well
Sydney-listed Emperor Energy has got approval from Australia's National Offshore Petroleum Titles Regulator for a 30-month extension to the offshore Vic/P47 exploration permit containing the Judith gas field, the company said on December 30.
Emperor now has until August 2023 to drill the Judith 2 exploration well, instead of February 2021. The company operates the 202 km2 Vic/P47 permit with a 100% interest.
The extra time will allow Emperor to accurately assess new 3D seismic data from a survey undertaken in July across the offshore Gippsland basin which covered Vic/P47, the company said. The data should become available imminently. Emperor also cited Covid-19's impact as justification for an extension.
More time will also enable Emperor to "further develop planning of the well, and progress securing an exploration and development partner for the project without the threat of a pending permit deadline,” Emperor’s director Phil McNamara said.
Emperor signed a memorandum of understanding last year with APA Group that could see the Australian midstream operator help transport gas from the Judith field.