Emperor Energy Ltd (ASX:EMP) is buoyed by positive results from amplitude versus offset (AVO) analysis on its Judith Gas Project in Victoria.
Ultimately, the AVO results, correlated against known gas sands in the Judith-1 and Kipper-1 wells, provide an increased level of confidence in the use of AVO as a direct hydrocarbon indicator (DHI) at the Judith asset.
The AVO DHIs extend across the Judith structure, indicating multiple, stacked gas sands.
What’s more, an extension of strong DHIs in Judith and underlying Longtom sands across the Judith South Block is encouraging and confirms the presence of substantial resource potential in this block.
Emperor maintains its focus on achieving first gas sales from the Judith Gas Field by 2027 or earlier.
Judith Gas Project
Emperor Energy’s key objective is to develop the Judith Gas Project, 40 kilometres offshore from the Orbost Gas Plant in Victoria’s Gippsland Basin.
Here, Emperor hopes to establish a sales gas capacity of 80 terajoules per day — equivalent to 28 petajoules per year — over a minimum production period of 15 years.
The value of gas and condensate sales is piqued to exceed $300 million per year, based on AEMO mid-range pricing forecasts.
Emperor completed AVO analysis at Judith using final, fully processed 3D PSDM seismic data received from international seismic acquisition company CGG in November 2021.
Promisingly, the data has provided the best clarity and definition of AVO response, used as a direct hydrocarbon indicator, yet seen across the Judith structure and gas field.
The results are in
Results of the AVO analysis indicate very strong AVO Shuey Fluid Factor response for the Judith Gas Sands 1 and 2.
In turn, similar strong responses are also observed in Judith Gas Sands 3 and 4.
In both cases, AVO analysis shows strong AVO Gas Indication (brightening to orange) extending across the Judith structure, up-dip from Judith-1 to the proposed Judith-2 well site.
The extent of the strong AVO response indicates interpreted gas extends over more than 500 metres of vertical relief across the Judith structure, terminated by the Rosedale Fault to the north.
This is the strongest evidence to date supporting the 1.226 trillion cubic feet, unrisked, prospective gas resource estimate, previously published for the Judith Gas Field in 2019.