The Conversation (0)
October 07, 2024
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 gas
- Additional deep coal flow to increase contingent resources
- Stabilised flow rate less than previously measured but remediable in future wells
- Well to be retained as a future gas producer
- All 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.
Flare from Daydream 2 prior to well being suspended
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.
EXR:AU
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18 June
IEA: World Energy Investment to Hit US$3.3 Trillion in 2025
Despite geopolitical and macroeconomic headwinds, global energy investment is expected to rise to an unprecedented US$3.3 trillion in 2025, according to the International Energy Agency (IEA).
The bulk of that capital — US$2.2 trillion — will go to clean energy technologies, including renewables, grids, storage, nuclear and efficiency initiatives, signaling the accelerating dominance of the so-called “Age of Electricity.”
This marks a 2 percent real-term increase from 2024, and, more significantly, it reflects a decisive structural shift.
For the first time in history, global investment in electricity is set to more than double that of fossil fuels, which are expected to receive only US$1.1 trillion in total funding next year.
“Ten years ago, investments in fossil fuel supply were 30 percent higher than those for electricity generation, grids and storage,” the IEA notes in a new report. “Today, these positions are reversed.”
China, US and Europe lead the charge
The report identifies three geopolitical regions that have been chiefly responsible for the surge in clean energy investment over the past five years: China, Europe and the US.
China alone accounts for nearly one-third of global clean energy investment, up from one-quarter a decade ago.
The Asian nation's strategy is shaped by a mix of industrial policy, energy security concerns and a desire to lead in cleantech manufacturing. The IEA notes that Chinese solar panel exports to developing economies surged in early 2025, overtaking shipments to advanced economies. Pakistan, for instance, imported 19 gigawatts worth of solar panels from China in 2024 — about half of its grid-connected capacity.
Meanwhile, Europe has scrambled to accelerate renewable and efficiency spending following Russia’s 2022 invasion of Ukraine and the subsequent cut in natural gas deliveries.
The continent's response has focused heavily on electrification and energy independence.
In the US, the Inflation Reduction Act and other incentives have driven a near doubling of clean energy investment in the last decade. However, the IEA warns this momentum may plateau as federal support measures are scaled back.
Solar dominates, but grid investment lags
Solar power remains the world’s standout investment magnet.
Spending on photovoltaics (PV) — both utility scale and rooftop — is expected to reach US$450 billion in 2025, making it the largest single item in global energy investment.
This surge is being driven by plunging tech costs and intense supplier competition, particularly from Chinese firms.
Battery storage for the power sector is also gaining traction, with investment projected at US$66 billion. Yet despite these advances, a critical bottleneck remains: power grids.
“Maintaining electricity security amid rising electricity use requires a rapid increase in grid spending, moving towards parity with the amount spent on generation,” the IEA cautions.
At present, just US$400 billion is allocated annually to grid infrastructure — less than half of what goes to generation assets. Barriers include long permitting times, strained supply chains for transformers and cables and financial stress on utilities, especially in developing nations.
Fossil fuel investment slumps
Investment in upstream oil is set to fall by 6 percent in 2025, the first annual drop since the 2020 pandemic slump and the steepest since 2016. The IEA attributes this decline to softening oil prices and weaker investor sentiment.
Refining investment is also shrinking, set to hit its lowest point in a decade.
The US shale sector, once a barometer for oil market optimism, is expected to reduce spending by nearly 10 percent in 2025, although production may still inch upward due to cost cutting and recent consolidations.
On the other hand, natural gas investments are more resilient. Final investment decisions (FIDs) for gas-fired power generation have rebounded, with the US and Middle East accounting for nearly half of global FIDs.
Spending on LNG infrastructure is also on an upswing, fueled by major new projects in the US, Qatar and Canada. Between 2026 and 2028, the IEA projects some of the largest ever annual expansions in LNG export capacity.
Electrification and end-use efficiency rising
The global shift to electric vehicle (EVs), heat pumps and smart appliances is reshaping end-use energy investment, now expected to reach US$800 billion in 2025. EV adoption is a major factor in this rise, especially in China, where many EV models are now price competitive with traditional combustion engines.
Buildings investment, however, is being dragged down by a sluggish construction sector, particularly in China. This is partly offset by rising demand for efficient appliances and cooling systems amid global temperature increases.
Furthermore, the IEA notes that the cost of many clean technologies has resumed a downward trend.
The IEA’s Clean Energy Equipment Price Index hit a record low in early 2024, with solar and wind components from China seeing price drops of 60 and 50 percent, respectively, since 2022.
Yet inflation looms in other sectors. Grid material costs have nearly doubled in five years, and oil and gas upstream costs are forecast to rise 3 percent in 2025. US developers are facing additional cost pressures due to rising tariffs on imported steel and aluminum.
World not yet on track for COP28 goals
Despite historic investment levels, the IEA warns that the world is still not on track to meet the tripling of renewable power capacity pledged at COP28. To reach those targets, annual investments in renewables must double, and efficiency and electrification spending must nearly triple within five years.
“Efforts to reduce the cost of capital need to be the cornerstone of the ‘Baku to Belem Roadmap’ launched at COP29,” the organization's report concludes, referencing a plan to mobilize at least US$1.3 trillion for low-emissions projects in developing economies by 2035.
With the world entering a new phase of electrification and energy transition, the IEA emphasizes that the challenge is no longer just innovation — but scale, equity and speed.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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17 June
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Source Rock Royalties Declares Monthly Dividend
Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on July 15, 2025 to shareholders of record on June 30, 2025.
This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
About Source Rock Royalties Ltd.
Source Rock is a pure-play oil and gas royalty company with an existing portfolio of oil royalties in southeast Saskatchewan, central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
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 of this release.
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16 June
Alvopetro Announces Q2 2025 Dividend of US$0.10 Per Share and Reminder of Upcoming AGM
Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.10 per common share, payable in cash on July 15, 2025 to shareholders of record at the close of business on June 30, 2025. This dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%. Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada. For further information, see Alvopetro's website at https://alvopetro.com/Dividends-Non-resident-Shareholders.
Annual General Meeting
Alvopetro's annual general and special meeting (the "Meeting") will be held on Wednesday, June 18, 2025 at the offices of Torys LLP (Suite 4600, 525 8th Avenue SW, Calgary, Alberta) beginning at 9:30 a.m. Mountain time. All interested parties are invited to attend the Meeting, however only registered shareholders of record at the close of business on May 5, 2025 and duly appointed proxyholders will be entitled to vote at the Meeting.
We will also be broadcasting the meeting via live webcast for the interest of all shareholders. Please be advised that shareholders will not be able to vote any shares through this webcast format. Details for joining the event are as follows:
DATE: June 18, 2025
TIME: 9:30 AM Mountain/11:30 AM Eastern
LINK:https://us06web.zoom.us/j/89512204386
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kenh5nLlte
WEBINAR ID: 895 1220 4386
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
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.
Forward-Looking Statements and Cautionary Language
This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend", "plan", "may", "believe", "estimate", "forecast", "anticipate", "should" and other similar words or expressions are intended to identify forward-looking information. Forward–looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning the Company's dividends, plans for dividends in the future, the timing and amount of such dividends and the expected tax treatment thereof. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca. The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF
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11 June
Jupiter Energy Eyes Production Growth, Profitability with Kazakhstan AIX Listing
Jupiter Energy (ASX:JPR) Chairman Geoff Gander discusses his company’s listing on the Astana International Exchange (AIX), Kazakhstan’s largest stock exchange, in a bid to raise US$5 million and increase productivity to 1,000 barrels of oil per day at the Akkar East field.
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