The Brains Trust - 2024, page-1071

dave you mentioned BLU the other day

Blue Energy has made significant progress across its acreage in Queensland and the Northern Territory during the latest quarter.
The Sapphire 5 lateral pilot wells have been reinstated to production testing with the aggregate gas flow rate for the Sapphire pilot has increased to 0.12 terajoules per day.
Blue Energy also noted that Queensland Pacific Metals (QPM) has made a decision to focus on growing its Moranbah gas production assets including gas supply from third parties.
This means that QPM has confirmed that it intends to take gas that Blue makes available for delivery to the Moranbah Gas Project in line with the existing non-binding MOU executed in 2023.

The company also noted that it is still awaiting the outcome of the Queensland’s Government Frontier Gas Exploration $21 million Grants Program.
The program was launched for successful applicants to conduct new drilling in the Bowen and Galilee Basins in the state.
Blue’s ATP 814 area in the North Bowen Basin meets the eligibility criteria of the grants program and accordingly, Blue has lodged applications for new drilling in the ATP 814 area.
It is expected that successful applications will be notified during the June quarter.