Elixir Energy (ASX:EXR)

Daydream-2 Operations Update

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


HIGHLIGHTS

  • Lorelle Sandstone flows gas at stabilized flow rates of 2.1 and 2.5 MMSCFPD
  • Flow rate of Lorelle zone alone approaching the modelled economic hurdle
  • Five stage stimulation program now underway

The flow test of the Lorelle Sandstone post stimulation was completed yesterday. On-site operations have now moved to the stimulation of the 5 upper zones.

Gas flare of approximately 3 MMSCFPD from Daydream-2

The Lorelle Sandstone was flow tested from 4,200 meters to 4,217 metres directly through the 4 1/2” casing without a completion. The well was tested at multiple rates and multiple choke sizes. The well flowed gas at a maximum rate of 3.5 Million Standard Cubic Feet Per Day (MMSCFPD) and on multiple occasions stabilized rates were observed between 2.1 and 2.5 MMSCPFD throughout the flow period (see Appendix 1 for full disclosures required under Listing Rule 5.30).

As the test progressed, it has become clear that stimulation fluid in the wellbore was accumulating and suppressing the stabilized rate. Running a completion string in the hole in any future production test would resolve this issue and significantly improve the gas production rate. Engineering calculations suggest that with the appropriate completion string in the hole, the well would flow at a stable rate of 3.0 MMSCFPD. Towards the end of the testing, minor amounts of condensate were recovered.

Daydream-2 wellsite during Lorelle Testing operation

The unstimulated rate achieved in April 2024 from the same zone was 1.3 MMSCFPD. The results of the test show that the stimulation was successful and caused a material increase in gas flow.


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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PEP11 Update Federal Court Judicial Review

PEP11 Update Federal Court Judicial Review

BPH Energy (BPH:AU) has announced PEP11 Update Federal Court Judicial Review

Download the PDF here.

BPH Energy Limited  PEP11 Update Federal Court Judicial Review

BPH Energy Limited PEP11 Update Federal Court Judicial Review

Perth, Australia (ABN Newswire) - BPH Energy Limited (ASX:BPH) advises that investee Advent Energy Limited's (BPH 36.1% direct interest) 100% subsidiary Asset Energy Pty Ltd has applied to the Federal Court for an Originating Application for judicial review pursuant to s 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and s 39B of the Judiciary Act 1903 (Cth) to review a Decision of the Commonwealth-New South Wales Offshore Petroleum Joint Authority, constituted under section 56 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth). By the Decision, the Joint Authority refused the Joint Venture Applications made on 23 January 2020 and 17 March 2021 to vary and suspend the conditions of the PEP-11 Permit, pursuant to section 264(2) of the Act, and to extend the term of the PEP 11 Permit, pursuant to section 265 of the Act.

The Originating Application seeks:

1. An order quashing or setting aside the Decision;

2. A declaration that the Decision is void and of no effect; and

3. An order remitting the First Application and Second Application to the Joint Authority for reconsideration according to law.

Asset Energy Pty Ltd is a 100 % owned subsidiary of Advent Energy Ltd and has lodged the appeal as Operator for and on behalf of the PEP11 Joint Venture Partners, Bounty Oil and Gas NL (ASX:BUY) and Asset Energy Pty Ltd.



About BPH Energy Limited:  

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).



Source:
BPH Energy Limited

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