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Australia's Emperor Energy gains on securing drilling contract for Victoria project

By Reuters News

** Shares of Australia's Emperor Energy EMP.AX rise as much as 3.5% to A$0.088, marking their biggest intraday pct gain since October 27

** Diversified energy co executes drilling contract with unit of drilling services provider Valaris VAL.N for the VALARIS 107 jack-up rig

** Contract for drilling of the Judith-2 appraisal natural gas project south of Victoria

** Adds co has paid a US$2 mln deposit following an initial US$1.5 mln payment made in September

** Adds rig is expected to be available in April 2027 and will be used to appraise the Judith gas discovery in the Gippsland Basin

** More than 447,000 shares change hands, about 1.2x the 30-day average

** YTD, stock down 20.5%, including session's moves

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