From the Annual Report.... During August, highly regarded global...

From the Annual Report....

During August, highly regarded global well consultants AGR completed the initial well planning phase of their well delivery process for the Judith-2 appraisal/exploration well. This includes well design, casing design, well costing, regulatory timeline and a drill rig market survey.

The drill rig market survey received a positive response from five drilling contractors offering both Jack- Up and Semi-Submersible Drilling Rigs. Formal tenders and direct negotiations with a preferred supplier to contract the most suitable drilling unit will commence once Emperor Energy secures an Exploration Partner via a Farm-In process currently being
conducted.

The well design has been selected and is typical for wells in the area, using conventional casing sizes that are relatively easy to procure. A detailed cost analysis using AGR’s proprietary software (P1) was also performed, including running Drill Stem Tests (DST). The most significant risk regarding the well cost is the rig mobilisation / demobilisation costs, driving a strategy to contract a ‘rig of opportunity’, which is already in the area."

Estimated drilling time for the Judith 2 well is 26 days with costs estimated at AUD $25 Million excluding any Drill Stem Tests (flow testing).

Interesting times...

GLTA