Great announcement! Exciting times with upcoming catalysts expecting soon.
"Trevor Brown, CEO and Managing Director said: “The successful execution of the DFIT program in the Canyon-1H horizontal well has provided an important, high-quality data set that provides enhanced confidence of obtaining a strong result from the upcoming fracture stimulation and flowback program. The DFIT data analysis indicates higher reservoir pressure and lower geomechanical stress than previously modelled, and reservoir permeability in line with expectations.
High overpressure is a key success factor in analogous, international basin-centred gas plays. These important results confirm favourable reservoir properties interpreted in the Canyon-1 vertical well and observed while drilling the horizontal section through the Canyon Sandstone in Canyon-1H.
Final preparations are now underway for the Canyon-1H fracture stimulation and flowback program which is expected to commence around the end of February 2025.”
OMA Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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