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Emperor Energy in back-to-back trading halt with capital raising news pending

The company this week signed an agreement with APA Group to progress a pre-FEED study for the Judith Gas Field in the offshore Gippsland Basin, Victoria.

Emperor Energy Ltd - Emperor Energy in trading halt with capital raising news pending
Emperor Energy is a diversified energy company with upstream and downstream assets in Australia

Emperor Energy Ltd (ASX:EMP) has been granted a back-to-back trading halt by the ASX with a capital raising announcement pending.

The halt will remain in place until the start of normal trading on Wednesday, May 27, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 2.9 cents after reaching a new 12-month high of 6 cents earlier this week.

Gas field pre-FEED agreement

This came on May 19 as Emperor signed an agreement with APA Group (ASX:APA) to progress a pre-FEED study for the Judith Gas Field in the offshore Gippsland Basin, Victoria.

The binding agreement with APA, which has a market cap of approximately $13.262 billion, is for the provision of midstream infrastructure and services related to gas that will potentially be produced from the field

Judith is within the 100% Emperor Energy-owned VIC/P47 Permit in the offshore Gippsland Basin and is near existing gas production facilities operated by APA.

Quick facts: Emperor Energy Ltd

Price: 0.028 AUD

ASX:EMP
Market: ASX
Market Cap: $2.28 m
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Emperor Energy signs key pre-FEED agreement with APA for Judith Gas Field

Emperor Energy Ltd (ASX:EMP) has entered into a binding agreement with the APA Group to progress with a pre-FEED study for the provision of midstream infrastructure and services related to gas that will potentially be produced from Judith Gas Field in the offshore Gippsland Basin...

2 weeks, 3 days ago

2 min read