Past year: ▲ 47%(7.40c – 13.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
5 June 2026drilling scheduled▲ Good
EMP submitted a revised environment plan to NOPSEMA and says it is confident of approval soon. Contractors are chosen for the seabed survey and flow testing, and Valaris 107 rig talks are in final stages. Judith-2 is planned for late Q1 2027.
2 Sept 2025farm in farm out agreement● NeutralMajor
EMP formally began the farm-in process to fund Judith-2, with Argonaut as exclusive adviser and Mumford Commercial Consulting assisting. EMP holds 100% of Vic/P47; drilling is set for mid-2026. No partner is named, so funding remains open.
1 July 2025resource reserve update▲ GoodMajor
GaffneyCline audited Judith: 166 Bcf 2C contingent resource, plus 142 Bcf P50 prospective in deeper Longtom sands. Unrisked prospective resources rose from 1.63 to 1.86 Tcf. It confirms the 2023 petrophysics and recommends a Judith-2 twin well with a sidetrack. The 198 Bcf contingent figure is replaced by 166 Bcf.
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.
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.
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.
30 Oct 2023drilling result▲ Good
A new AvO seismic study by QIntegral supports gas in the Judith sands at Judith-1 and in up-dip fault blocks including the proposed Judith-2 location, plus gas indications in Longtom sands below Judith-1's depth. It is a reinterpretation of existing seismic, not a new well. It resolves the pending second study.
7 Sept 2023drilling result▲ GoodMajor
New petrophysical review of the 1989 Judith-1 well finds mobile gas in four sands over 189.5m net reservoir, confirming earlier gas saturations. Permeability rises by an order of magnitude (max 24.2 mD), which EMP expects to support higher modelled flow rates; this is a reinterpretation, not a new well.
13 Oct 2022resource reserve update▲ GoodMajor
3D-Geo's revised statement lifts Judith/Longtom P50 prospective gas from 1.226 Tcf to 1.627 Tcf, and total Vic/P47 to 2.249 Tcf. Contingent resource rises from 150 Bcf to 198 Bcf. Kipper and Golden Beach figure stays at 622 Bcf.
6 Apr 2022resource reserve update▲ GoodMajor
Independent 3D-Geo statement puts 622 Bcf (P50, unrisked, prospective) in the Kipper and Golden Beach sands, lifting the Vic/P47 total 50% to 1.848 Tcf. The earlier 1.226 Tcf and 150 Bcf contingent figures stand, with risk said to be reduced. Resolves the February upgrade thread.
7 Mar 2022resource reserve update▲ Good
EMP commissioned 3D-Geo to write an independent prospective resource statement for the Kipper and Golden Beach sands, additional to the 1.226 Tcf. Judith-2 in 2023 would also test them. EMP is still seeking partners to join the well.
25 Feb 2022resource reserve update▲ GoodMajor
Seismic analysis shows strong gas signals in four shallower sands (Kipper and three Golden Beach) above the Judith sands, tied to ExxonMobil's producing Kipper-1. EMP says they could add to the 1.226 Tcf estimate; no new volume yet, upgrade being prepared.
27 Jan 2022drilling result▲ Good
Analysis of the final seismic shows strong gas indicators across Judith over more than 500m of relief. EMP calls it the strongest evidence yet for the unchanged 1.226 Tcf prospective estimate (3D-GEO, 2019). No new volume figure and no partner yet.
23 Dec 2021drilling result▲ Good
EMP received the final fully processed CGG seismic, which it says sharpens imaging and strengthens gas indicators over Judith. It also sees possible extension of Kipper and Golden Beach gas sands into Vic/P47. This follows the preliminary data of mid-2021; no new resource figure.
11 June 2021drilling result▲ GoodMajor
Analysis of the new seismic shows strong gas-indicator (AVO) responses across Judith over at least 500m of vertical relief, tied to Judith 1 and Kipper 1 wells. EMP says this supports prior prospective resource estimates and de-risks Judith 2. No new resource figure.
18 June 2020drilling scheduled▲ Good
EMP engages well consultant AGR to plan and design the Judith 2 exploration well, starting in July and taking one month. Work covers an execution plan, regulatory timeline, rig sharing options and well cost analysis. No drilling date or farm-in partner is announced.
11 July 2019resource reserve update▲ GoodMajor
3D-GEO's July 2019 statement lifts Judith to 150 Bcf 2C contingent and 1.226 Tcf P50 unrisked prospective, up from RISC's 122 Bcf and 844 Bcf in November 2018. It supersedes the RISC figures.
21 Nov 2018resource reserve update▲ Good
3D-Geo modelling suggests five vertical wells at 20-30 MMcf/d each could deliver 29 Bcf a year for 20 years, 880 Bcf in total over 35 years. Judith closure is stated as 966 Bcf total sales gas (122 + 844). These are simulations, not reserves.
12 Nov 2018resource reserve update▲ GoodMajor
RISC certifies Judith resources in Vic/P47 (100% EMP): 2C contingent 122 Bcf sales gas, and P50 unrisked prospective 844 Bcf. This replaces the 1.8 Tcf in-place estimate with certified recoverable figures, and the 2013 GCA contingent figure of 101 Bcf is superseded by 122 Bcf.
3 Sept 2018resource reserve update● Neutral
3D-Geo's reservoir engineering for Judith is complete and handed to RISC. Gas-in-place has been revised to include deeper Longtom sands, though no new figure is given. RISC's statement slips from end August to mid-September 2018.
26 Mar 2018resource reserve update▲ GoodMajor
Petrophysical review of the Judith-1 well finds four gas reservoirs with 162m net gas pay, porosity 13-14.9%. Comparison with Longtom field suggests commercial potential, with better reservoir expected up-dip. No new volume estimate; the 1.8 Tcf is unchanged.
10 Aug 2017resource reserve update▲ GoodMajor
Reprocessed seismic points to much larger gas potential at Vic/P47's Judith structure: 1.8 Tcf unrisked gas-in-place (P50) and 1.17 Tcf recoverable. This compares with the earlier 101 Bcf contingent estimate, a different measure that is unrisked and not a booked resource.
10 June 2016resource reserve update● Neutral
OBL re-issues its resource tables for Listing Rule clarification, now showing EP487 as 50% non-operated. Net 2C contingent resources stay at 20.1 MMBOE. Per-share figures use 145,845,718 shares on issue at 8 June 2016, up from about 113.96m after consolidation.
17 May 2016resource reserve update● Neutral
OBL re-issues its Derby Block (EP487) resource figures for ASX Listing Rule compliance. OBL's net 50% P50 prospective resource is 12.3 Tcf gas and 307 MMbbl condensate. These are undrilled prospective estimates and the figures are not new.
13 Apr 2016resource reserve update● NeutralMajor
OBL restates Cyrano (R3/R1) from reserves to contingent resources, citing low oil prices; 2C stays at 3.01 MMstb. Net 2C is 20.1 MMBOE and net P50 prospective is 2.889 billion BOE, mostly the Derby Block. Superseded by the next day's amendment.
15 Jan 2016resource reserve update▲ GoodMajor
New 3D-Geo preliminary assessment lifts Derby Block gross P50 prospective gas 31.6% to 24.6 Tcf, with 614 MMbbl condensate. Including deeper Basal Laurel shale, the total to 5000m is 28.7 Tcf and 717.7 MMbbl condensate, up from 18.7 Tcf to 4000m. Prospective, undrilled estimates.
7 Jan 2016resource reserve update▲ Good
New static reservoir study of Cyrano (R3/R1, 100%) gives 2C/P50 recoverable oil of 2.0 MMbbl Barrow plus 1.4 MMbbl Mardie, 3.4 MMbbl total. This broadly confirms the May 2015 reserves (2P 3.01 MMstb). A desktop environmental study judges a conventional development manageable.
1 June 2015farm in farm out completion▲ GoodMajor
Third-party release: Rey completed buying Backreef's 50% of the Derby Block for $2m on production licence grant or a 2% royalty. Rey settled about $391,000 of Oil Basins' claims, and the two now run a joint venture. Resolves the ownership dispute.
1 June 2015farm in farm out agreement▲ GoodMajor
Oil Basins settled all Derby Block disputes with Backreef; Rey becomes 50% partner (subject to regulatory approval) and Oil Basins gets $391,000 cash and a 1% royalty on Rey's half. Oil Basins stays operator to 1 Jan 2016 and will seek a farm-out.
18 May 2015resource reserve update▲ GoodMajor
Independent review booked Cyrano (R3/R1) recoverable reserves of 2.18 MMstb 1P, 3.01 MMstb 2P and 3.89 MMstb 3P, with the WA regulator on 30 April 2015. This turns the December resource estimate into booked reserves. Oil Basins holds 100%.
