Emperor Energy Ltd (ASX:EMP) is trading higher after signing an MoU with Cooper Energy Ltd (ASX:COE) to progress discussions regarding potential cooperation for gas production in the Gippsland Basin in Victoria.
The non-binding MoU will see both parties consider the use of Cooper Energy’s Orbost Gas Processing Facility and adjacent sites for the processing and export of gas from a development of Emperor’s offshore Judith Gas Field.
This gas field is within the 100% Emperor Energy-owned Vic/P47 Exploration Permit, 40 kilometres offshore to the south of the Orbost Gas Processing Plant.
Judith Gas Field location in the Gippsland Basin and proximity to Orbost Gas Processing Plant.
Shares higher
Emperor shares have been as much as 25% higher to $0.04.
Cooper Energy is a leading southeast Australian exploration and production company, with processing capabilities at the Athena Gas Plant and Orbost Gas Processing Plant.
Emperor Energy director Carl Dumbrell told Proactive the idea behind the agreement was to progress discussions regarding potential cooperation on the use of Cooper Energy’s Orbost Gas Processing Facility and adjacent sites for the processing and export of gas from a development of the Judith Gas Field.
Background to MoU
On July 28, 2022, Cooper Energy announced it had finalised the acquisition of the Orbost Gas Processing Plant from APA Group (ASX:APA).
In 2020, during the period when APA Group had owned the Orbost Gas Processing Plant, APA Group and Emperor Energy completed a pre-feasibility study on the gas infrastructure and production field facility requirements to establish a sales gas capacity of 80TJ per day (equivalent to 28PJ per year) from the Judith Gas Field through a potential new plant adjacent to the existing Orbost Gas Processing Plant.