P50 is now 1848 Bcf and the required gas over 25 years operational life is 730 Bcf leaving room for possible expansion if things play out right.
What's most important to note though is that P90 goes up from 265 Bcf (previous Judith and Longtom Sands July 2019 resource statement) to 621 Bcf which gives much greater certainty to the viability and life of the project almost meeting the required 25 year life span (730 Bcf) with a 90% probability of 621 Bcf. Note that it would be very likely the project is now viable with greater certainty than before being much more attractive to potential partners.
If P50 probability was realised at the drilling stage then this project has the capacity to expand also, helping to supply extra gas needed for the transitioning phase of existing aging gas fields in production.
It looks like Emperor Energy is starting to shape up quite nicely.
EMP Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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