Elixir Energy

Daydream-2 Logs 154 Metres of Net Pay

Elixir Energy Limited (Elixir or the Company) is pleased to provide an update on the Daydream-2 appraisal well in its 100% owned Grandis Gas Project (ATP 2044), located in the Taroom Trough of the Bowen Basin, Queensland.


HIGHLIGHTS

  • Logging program at Daydream-2 records an interpreted 154 metres of net gas pay in the primary objective Permian sandstones
  • Cumulative targeted coal zones totaling 65 metres which will be a key target to stimulate and flow – and add to net pay and production potential
  • Recently encountered permeable zone feeding into stimulation & flow test plans

Running of the logging program at Daydream-2 was finalized in recent days and currently the production liner is being run to case off the well to total depth. The rig is expected to be released from location this weekend, with the well costs coming in under budget.

The Company’s preliminary interpretation of net gas pay from log analysis (using standard Australian onshore cut-offs) indicates the following:

Kianga Formation – 78 metres

Back Creek Group – 76 metres

Total – 154 metres

Gaseous coal zones were also logged throughout the primary objective interval, totaling a cumulative 65 metres. As flagged previously, these thermally mature coals will be targeted for stimulation and flow testing in the New Year. Success in those endeavours would materially add to the current well net pay and well production potential.

As announced on 7 December 2023, the well intersected an unexpected permeable sandstone zone at approximately 4,200 metres. The zone flowed gas into the wellbore which resulted in a flare at the surface. The Company’s analysis of this zone is now feeding into the stimulation and flow testing plans for early in the New Year.

Estimates of the over-pressure in the Permian gas bearing zones in the well are at this stage somewhat subjective (being largely based on the drilling mud required to control the gas influx encountered in the lower zone), but are currently considered to be significant - in the region of 0.69 psi/foot.

A number of laboratory analyses of various drill cuttings from the well are currently underway and the results therefrom will help inform, optimize and de-risk the planning for the upcoming next stages of the program for the well.

Elixir’s Managing Director, Mr. Neil Young, said: “Recording 154 metres of net pay at Daydream-2 is a great result – exceeding our pre-drill expectations – and in due course our fully funded plans aim to add the coal zones to this net pay category. Encountering a permeable “conventional” sandstone reservoir at depths of 4,200 metres has been a very exciting recent and unexpected development and this zone will be a key focus for next year’s stimulation and flow testing operations”.


Click here for the full ASX Release

This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Alvopetro Announces March 2025 Sales Volumes

Alvopetro Announces March 2025 Sales Volumes

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces March sales volumes of 2,580 boepd, including natural gas sales of 14.5 MMcfpd, associated natural gas liquids sales from condensate of 146 bopd and oil sales of 12 bopd, based on field estimates, bringing our average daily sales volumes to 2,446 boepd in Q1 2025, up 41% from Q4 2024.

Natural gas, NGLs and crude oil sales:

Corporate Presentation

Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social   Media

Follow Alvopetro on our social media channels at the following links:

Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube - https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Abbreviations:

boepd

=

barrels of oil equivalent ("boe") per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids

Q1 2025

=

three months ended March 31, 2025

Q4 2024

=

three months ended December 31, 2024

BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/April2025/03/c2450.html

News Provided by Canada Newswire via QuoteMedia

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