Total
0
Shares
Emperor Energy (ASX:EMP) - Director and Secretary, Carl Dumbrell - The Market Herald
Director and Secretary, Carl Dumbrell
Source: The Market Herald
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Emperor Energy (EMP) enters a trading halt while it plans a capital raise
  • The energy stock recently analysed seismic data from its Judith Gas Field in Victoria
  • It seems the company has some development plans for the gas field but whether or not the capital raise will support that isn't yet clear
  • Nevertheless, the market will only have to wait until Friday, June 18, at the latest to find out
  • EMP last traded at 3.4 cents on Tuesday, June 15

Emperor Energy (EMP) has entered a trading halt while it plans a capital raise.

It isn't yet clear how much the energy stock plans to raise or what it will use the money for, but the market will only have to wait until Friday, June 18, at the latest to find out.

Last week, the company announced its team of geologists and geophysicists were analysing recently accessed data from a seismic survey that was conducted last year across Emperor's wholly-owned Judith Gas Field in Victoria.

Once the seismic data is interpreted, Emperor Energy plans to develop new structural mapping and a 3D view of each gas-bearing reservoir sand penetrated by the Judith-1 Discovery Well.

The data provides significant detail to define the Judith Gas Field and contributes to de-risking the proposed Judith-2 Well.

Whether or not the upcoming funding will support proposed drilling or further exploration at the Judith Gas Field is not yet known.

In April, Emperor Energy released its report for the March quarter which it closed off with $468,000 in cash and an estimated 1.92 quarters left of funding.

The company then stated that while it didn't have plans to raise capital at the time, it received strong interest from parties regarding some fresh capital for EMP.

EMP last traded at 3.4 cents on Tuesday, June 15.

EMP by the numbers
More From The Market Herald
West Wits Mining (ASX:WWI) - Chairman, Michael Quinert - The Market Herald

" West Wits Mining (ASX:WWI) ends week in trading halt

West Wits Mining (WWI) has entered into a trading halt ahead of an upcoming capital raise.

" IPB Petroleum (ASX:IPD) looks to raise capital after funding delays

IPB Petroleum (IPD) shares have entered a voluntary trading halt while the company gears up for a potential capital raise.
Avecho Biotechnology (ASX:AVE) starts week in trading halt

" Anteris Technologies (ASX:AVR) enters trading halt ahead of capital raise

Anteris Technologies (AVR) has paused trading as it plans for an upcoming capital raise.
eSense-Lab (ASX:ESE) enters $812K loan note agreement

" Frontier Resources (ASX:FNT) ends week in trading halt

Frontier Resources (FNT) has ended the week in a trading halt pending an upcoming capital raising and potential acquisition.