The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Investing

Daydream-2 Operations Concluded

by admin October 8, 2024
October 8, 2024
Daydream-2 Operations Concluded

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an operational update on the Daydream-2 well in its 100% owned Project Grandis in Queensland’s Taroom Trough.

HIGHLIGHTS

Five out of six stimulated zones flowed gasAdditional deep coal flow to increase contingent resourcesStabilised flow rate less than previously measured but remediable in future wellsWell to be retained as a future gas producerAll licence commitments now met for ATP 2044 and retention lease to be sought

Elixir has now concluded its testing program of the Daydream-2 well and the well is being retained through a process of suspension as a future gas producer. The Coil Tubing Unit (CTU) has been released back to Elixir’s neighboring Operator to continue with its ongoing multi-well program.

All licence commitments have now been met for ATP 2044 and Elixir will now proceed with a process of applying for the licence to be deemed a retention lease (in Queensland this is called a Potential Commercial Area – PCA – which has a maximum term of 15 years).

The well delivered gas flow rates from five out of the six stimulated zones – including for the first time in two separate deep coal zones.

Achieving flows from these deep coals should allow the commencement of the conversion to contingent resources of the current prospective resources booked in the coals in ATP 2044 (see ASX announcement of 21 February 2024). Elixir will work with its independent auditors over this initial contingent resource booking in the coming months.

During the final phase of testing, gas was flowed at various rates and various choke sizes. A maximum flow rate of 2.6 MMSCFD was recorded and the stabilized rate was 1.0 MMCFPD prior to shut-in.

This reduction in stabilised rate has been attributed to condensate or water banking immediately around the wellbore.

This was likely caused by the multiple open and closures of the well during recent operations, or by adverse reactions to fluids introduced into the wellbore. Such issues are common in early stage tight gas plays globally and can be remedied by operational changes to fluid use and well management. Due to the appraisal nature of this well, the extensive multi-phase testing and evaluation undertaken (including for R&D purposes) was required as part of the planning for a future development.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Craig Hemke: Gold’s Fascinating Run, Silver and Mining Shares Next?
next post
Costco Adds Platinum Bars to Precious Metals Investment Offerings

Related Posts

Canada Nickel Confirms Discovery at Mann Central, Successfully...

February 23, 2024

Frontier Energy

December 14, 2023

Blue Lagoon’s Dome Mountain Joins BC’s Select List...

June 2, 2025

Zijin Mining in Talks to Acquire Stake in...

January 11, 2025

WGC: Gold Demand Hits Q3 Record as Western...

October 31, 2024

Nordic Raises A$1.05 Million to Advance Critical Minerals...

September 25, 2024

6 Mining Companies Make Top 20 on 2025...

January 18, 2025

Adam Rozencwajg: Will EVs Succeed? Efficiency, Emissions and...

April 6, 2024

West High YieldResources Ltd. Announces Final Closing of...

May 11, 2024

Pharma Market Forecast: Top Trends for Pharma in...

January 14, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,404)
    • Investing (3,391)
    • Politics (4,572)
    • World (4,505)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved