EXR

5.38%

9.8¢ elixir energy limited

There was a massive run and a absolutely massive gap up..........

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trader_10

17,082 Posts.

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08/04/24

12:24

Post #: 73238041
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Originally posted by psi81: ↑

Interesting. I haven't been following Qld gas much the last few years so am not across this, in fact I'm surprised to see so much acreage pegged out that far south of the traditional CSG fairway. Something must have happened that I missed in terms of finding encouraging signs of deep gas. We used to agitate to drill some of these targets 5-10 years ago but could never get management to commit, due to the massive well cost.

But I know the Lorelle SS, there are a few wells that found gas it on the Roma Shelf and I even found gas in it once, on the very edge of the trough where it was poor quality and only a few metres thick. So I'm not surprised to see it get so much thicker and deeper and full of gas in the guts of the trough. But calling it the next Perth Basin is a bit premature, there have already been quite a few deep wells targeting these Taroom sands going back 10+ years and this is the only one to flow to my knowledge. On top of that this flow rate is not enough to be economic for a well of this depth, the first discovery in the Perth Basin flowed something like 25 MMSCFD I think. So the chance of this turning into the Perth Basin where every well hits 20+ MMSCFD unstimulated is pretty low.

I also think there might be a well in the Adavale Basin in western Qld that flowed gas unstimulated at similar depth, so it's not unheard of.

It's exciting anyway. But not economic at this flow rate, and stimulation is difficult at these depths, so we will have to see, it'll take a lot of money and probably a long time to find what works. I'm keen to see how it unfolds though, and pleased to see some promising results in my old stomping ground.

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There was a massive run and a absolutely massive gap up....... always good to take some of the table on run dayz like Friday.....

I think when and if the SP starts hitting CR targets there will be massive exits here..... so... atm.... trading is as profitable as ever below majority of retailer's CR holdings and all other news they bought in...... 16c, 20c, 25c, 30c and 40c...... plenty waiting to be back on black here...

Trade it ahead the sheep..... cause eventually there will be more sells than buys....... right now', its just the normal adjustment on the abnormal run..... it's normal.... and an opportunity.... I 'cant see it closing the GAP right now.... but, it would be nice to see 7.9c 8c before the 2 weeks next news..... plenty of time for that....

GLTA

T10

EXR Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 9.8¢		Change 0.005(5.38%)		Mkt cap ! $117.2M

Open	High	Low	Value	Volume
9.5¢	10.3¢	9.5¢	$215.9K	2.165M

Buyers (Bids)

No.	Vol.	Price($)
4	96079	9.8¢

Sellers (Offers)

Price($)	Vol.	No.
10.0¢	139661	1

View Market Depth

No.	Vol.	Price($)
3	71579	0.098
4	285309	0.097
1	50000	0.096
4	140355	0.095
1	7067	0.094

Price($)	Vol.	No.
0.100	139661	1
0.105	752912	5
0.110	110526	2
0.115	170245	5
0.120	138606	4

Last trade - 16.10pm 09/08/2024 (20 minute delay)

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There was a massive run and a absolutely massive gap up..........

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There was a massive run and a absolutely massive gap up..........

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