Past year: ▲ 47%(7.40c – 13.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Jan 2025quarterly activities report● Neutral
December 2024 quarter: cash was $3.398M after the $3.0M placement, and technical consultants were appointed for Judith-2. Environment plan submission slipped to mid-February 2025 from late January. Argonaut's consortium search continues; no partner named.
31 Jan 2025quarterly activities report● Neutral
Appendix 5B for the December 2024 quarter shows cash of $3.398M, up from $0.457M, after $3.608M of equity proceeds. Operating outflow was $376k and exploration spend $171k, giving an estimated 6.22 quarters of funding. $148k went to related parties.
22 Jan 2025auditor change● Neutral
Byrons Audit resigned due to mandatory rotation, and In.Corp Audit & Assurance was appointed auditor from 17 January 2025, subject to shareholder approval at the next AGM.
18 Dec 2024capital raising announcement▲ GoodMajor
EMP raised $3.0M via a placement of about 130.4M shares at $0.023, over three times the October price of $0.007. Funds go to the Judith-2 environment plan and well design. AGR, GaffneyCline, Xodus, Jasco and RPS are appointed; the environment plan is due to be submitted in January 2025.
What it means for a shareholder
130m new shares at A$0.023 to raise about A$3.0m. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (43,478 at the issue price), your slice goes from 0.0096% to 0.00746% of the company. To keep it you'd need 12,522 more shares - about A$288 at the issue price.
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18 Dec 2024investor presentation● Neutral
December 2024 presentation promotes Judith as east-coast gas supply declines. It shows 710M shares, a $17.8M market cap at $0.025 and pro-forma cash of $3.8M including the $3.0M placement. It repeats known resource figures.
17 Dec 2024security holder rights change● Neutral
70,125,000 listed EMPO options expired unexercised on 16 December 2024 and were delisted. No new shares or cash resulted from them.
31 Oct 2024quarterly activities report● Neutral
September 2024 quarter mainly restates the $1.25M placement at $0.007 and Argonaut's appointment. Tranche 2 (up to 127,249,958 shares) awaits the 7 November AGM. Judith resource figures are unchanged.
9 Oct 2024admin correction● Neutral
Supplementary detail on the placement: Tranche 1 was 50,224,258 shares under Listing Rule 7.1 and 12,811,500 under 7.1A, at $0.007. The AGM for Tranche 2 is set for 7 November 2024. No new substance.
30 Sept 2024capital raising announcement▲ Good
Tranche 1 of the placement completed: about 62.0M shares issued at $0.007, raising about $0.43M. Tranche 2 (about 127.3M shares, $0.81M) is fully subscribed but awaits shareholder approval at the AGM.
What it means for a shareholder
62.0m new shares at A$0.007 to raise about A$430,000. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held A$1,000 of shares (142,857 at the issue price), your slice goes from 0.0367% to 0.0316% of the company. To keep it you'd need 22,727 more shares - about A$159 at the issue price.
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23 Sept 2024capital raising announcement▲ GoodMajor
EMP raised $1.25M via a placement of about 178.6M shares at $0.007, led by Argonaut, with Nero, Perennial and Regal to become substantial holders. Argonaut is also appointed strategic adviser to assemble a consortium to drill Judith-2. Second tranche needs AGM approval.
What it means for a shareholder
179m new shares at A$0.007 to raise about A$1.3m. That's 31% dilution: every existing holder's slice gets 31% smaller. If you held A$1,000 of shares (142,857 at the issue price), your slice goes from 0.0367% to 0.0251% of the company. To keep it you'd need 65,469 more shares - about A$458 at the issue price.
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20 Sept 2024admin correction● Neutral
Appendix 4G governance checklist lodged with the annual report. It carries no new business information.
20 Sept 2024annual report● Neutral
Annual report for year to 30 June 2024 restates known items: Vic/P47 extension, petrophysics, gold lease purchase and capital raising. It targets Judith-2 drilling in 2025 and commercial gas production in 2029. Financial figures are not visible in the provided text.
26 Aug 2024asset acquisition disposition▲ GoodMajor
EMP completed the purchase of the three Great Caesar gold leases (128 ha, Queensland); settlement was 23 August 2024 and the transfer is proceeding. The London 50/50 JV partner is now named as Herencia Resources PLC, which has begun contributing capital. JV is still not finalised.
31 July 2024quarterly activities report● Neutral
June 2024 quarter recaps the Judith-1 modelling (80 MMscf/d for 6 years on 198 Bcf) and the $470,000 raise. Partner talks continue via Moyes and Co, an economic analysis is planned, and gold lease settlement is now extended to 23 August.
27 June 2024material agreement● Neutral
EMP extended its non-binding MOU with Cooper Energy on possibly using the Orbost Gas Processing Plant for Judith gas. It remains only a basis for talks, with no commitment, funding or development decision.
30 May 2024material agreement● Neutral
EMP extended completion of the Great Caesar gold lease purchase to 28 June 2024 from 31 May, to finish Queensland transfer approval and exploration program approval. It says it is confident the acquisition and the London 50/50 joint venture will finish by then.
22 May 2024drilling result▲ Good
Adding South East Longtom-1 well data to the Judith-1 petrophysics narrowed the permeability range and slightly raised the worst case, done at the request of interested companies. Supports the September 2023 method. Partner talks continue; none named.
14 May 2024regulatory community update● Neutral
EMP welcomes the federal Future Gas Strategy and restates known Judith figures: 198 Bcf contingent, 1,627 Bcf prospective, 80 MMscf/d for 6 years modelled. Partner discussions continue. Policy commentary only, with no new project result.
30 Apr 2024quarterly activities report● Neutral
March 2024 quarter recaps the Vic/P47 two-year extension, the production modelling, the $470,000 raise and the gold lease extension to 31 May with a proposed 50/50 London joint venture. Partner talks continue via Moyes and Co; no partner named.
29 Apr 2024capital raising announcement▲ GoodMajor
The Share Purchase Plan raised $460,000 through 41.8 million shares at $0.011, plus a $10,000 placement, totalling $470,000. All applications were accepted, well above the $200,000 target, and the proceeds are for continuing exploration activities.
What it means for a shareholder
41.8m new shares at A$0.011 to raise about A$460,000. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (90,909 at the issue price), your slice goes from 0.0267% to 0.0238% of the company. To keep it you'd need 11,152 more shares - about A$123 at the issue price.
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22 Apr 2024resource reserve update▲ GoodMajor
Modelling by 3D-GEO, based on the 2023 petrophysics, indicates Judith-1 could flow 100 MMscf/d for 4.25 years, or 60 MMscf/d for 8.25 years, using only the 198 Bcf contingent resource. This resolves the pending production modelling thread, though no well has been flow tested.
15 Apr 2024joint venture update● NeutralMajor
EMP intends a 50/50 joint venture with an unnamed London unlisted company to buy and explore the gold leases, conditional on that company raising A$500,000, of which $400,000 funds the purchase. Stage 1 is 600m of drilling costing $180,000. Not yet binding.
9 Apr 2024capital raising announcement● NeutralMajor
EMP offers eligible shareholders a Share Purchase Plan of up to $30,000 each at $0.011 per share, targeting about $200,000. It closes 24 April 2024. Follows the October 2023 raise at $0.008.
9 Apr 2024investor presentation● Neutral
Presentation repeats known Judith material: 198 Bcf contingent, 2.2 Tcf prospective, the permeability reanalysis and AvO study, with Judith-2 planned for 2025. Discussions with other parties are ongoing. No new results.
9 Apr 2024drilling result▲ GoodMajor
Due diligence sampling at the Great Caesar leases found gold in soils along more than 400m of strike. Rock samples reached 37.2 g/t at The Tunnel and 21.1 g/t at the old workings. Not a resource; drilling is now planned. Follows the earlier historical-data-only release.
9 Apr 2024other● Neutral
Cover letter for the Share Purchase Plan: $0.011 issue price is a 27% discount to the 8 April close of $0.015. Proceeds fund exploration and administration. Repeats the permit extension and gold lease points. No new information.
2 Apr 2024material agreement● Neutral
EMP extended the Great Caesar gold lease completion date to 31 May 2024 from 31 March, to finish Queensland transfer approval and exploration approval. Says soil and rock sampling results are 'very positive'. Aims to explore in second half of 2024 for a JORC resource.
6 Mar 2024half year report● Neutral
Half-year to 31 Dec 2023: loss of $472,680 (prior year $586,882). Cash fell to $184,932 from $313,070 at June 2023. Net assets $5.52M. Gold lease purchase still expected to complete in March 2024.
19 Feb 2024regulatory community update▲ GoodMajor
The Joint Authority approved the 24-month Vic/P47 extension, so Judith-2 must now be drilled by August 2025. This resolves the permit-extension thread, though it took almost 3 months longer than EMP forecast. Farm-in partner and NOPSEMA approval are still outstanding.
31 Jan 2024quarterly activities report● Neutral
December 2023 quarter: the Vic/P47 extension has passed the Victorian authority and awaits the federal Resources Minister, with no timeframe given. Otherwise recaps the petrophysics checks, AvO study and gold lease purchase, still expected to complete by end of March 2024.
