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Emperor Energy receives firm commitments to raise $656,000 through share purchase plan

The SPP will provide funding to continue exploration activities, as Emperor progresses with the Judith Gas Field Project.

Emperor Energy Ltd - Emperor Energy receives firm commitments to raise $656,000 through its Share Purchase Plan – double the minimum target
The company attracted more than double the minimum $300,000 target

Emperor Energy Ltd (ASX:EMP) has received firm commitments to raise $656,000 through its share purchase plan (SPP) – attracting more than double the minimum $300,000 target. 

The company has decided to accept all the commitments from existing shareholders. 

Under the non-brokered offer which closed on 14 October 2020, Emperor will issue 23,428,571 new shares at 2.8 cents per share. 

Exploration activities at Judith to continue

Net proceeds from the SPP will go towards strengthening the company’s balance sheet and provide important funding to continue its exploration activities, as it progresses with the Judith Gas Field Project.

Last month, APA Group’s (ASX:APA) started the pre-front end engineering design (pre-FEED) for the provision of midstream infrastructure and services related to gas that will potentially be produced from the Judith Gas Field.

The Judith Gas Field is in the 100% Emperor Energy-owned VIC/P47 Permit offshore Gippsland Basin, Victoria.

Quick facts: Emperor Energy Ltd

Price: 0.029 AUD

ASX:EMP
Market: ASX
Market Cap: $3.57 m
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Emperor Energy welcomes strong support for SPP as it progresses with Judith...

Emperor Energy Ltd's (ASX:EMP) Carl Dumbrell joins Proactive's Andrew Scott soon after receiving firm commitments to raise $656,000 through its share purchase plan (SPP) – attracting more than double the minimum $300,000 target. Net proceeds will go towards strengthening the company’s balance...

2 days, 8 hours ago

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