- Oil explorer Emperor Energy (EMP) has given an extension to its exploration permit, Vic/P47, in Melbourne
- Then the approval came from the National Offshore Petroleum Titles Regulator (NOPTA) for the Vic/P47 exploration permit
- Emperor will now have 30 months to further develop its project, and the extra time will allow the company to progress the wel
- The exploration permit located in offshore Gippsland Basin, located 200 kilometers east of Melbourne
- Notably, the Judith prospect estimated to contain 1.8 trillion cubic feet of gas
- On the market this afternoon, Emperor is down 7.69 percent and is trading at 2.4 cents per share
