- Elixir Energy (ASX:EXR) releases an update on the progress of drilling at the Daydream-2 appraisal well within its Grandis gas project in Queensland
- The initial phase of drilling reached a depth of 856 metres
- The well is making advancements through the intermediate hole section, surpassing a depth of 2050 metres overnight
- CHMA has been executed on the country with representatives of the Mandandanji people
- EXR last traded at 8 cents
Elixir Energy (ASX:EXR) has released an update on the progress of drilling at the Daydream-2 appraisal well within its Grandis gas project in Queensland.
The initial phase of drilling for the Daydream-2 appraisal well, the tophole section, has been completed, reaching a depth of 856 metres and cased and cemented.
The well is currently making advancements through the intermediate hole section, surpassing a depth of 2050 metres overnight.
Drilling will continue in this section until it reaches 2950 metres, and comprehensive logs will be acquired as part of the data services agreement recently announced with Origin Energy, associated costs will be covered by Origin.
“We are also very pleased to see that the drilling of Daydream-2 is going to plan and we are on track at this point to meet our initial estimates of around one month to get to total depth.” EXR Managing Director Neil Young said.
Additionally, a cultural heritage and management agreement (CHMA) has been executed on country with representatives of the Mandandanji people.
“The Board of Elixir was very pleased to meet with representatives of the Mandandanji people on country and execute a long term CHMA. We believe this will provide a strong foundation for an ongoing relationship with the traditional owners, to our mutual benefit,” Mr Young added.
The agreement establishes a long-term framework for effective cultural heritage management and extension of the project’s potential development phase.
EXR last traded at 8 cents.