EXR

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11.0¢ elixir energy limited

Ann: Daydream 2 Impressive Initial Flow Test, page-169

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11/04/24

12:28

Post #: 73294841
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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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Some extracts from the GC, NY (and others ) co-authored CSIRO paper (available for purchase by the way - $35 from memory- a very interesting read, highly recommended).

As@2020Mustang mentioned, techniques have evolved significantly, as noted in these 2 extracts from the CSIRO paper.

EXR Price at posting: 9.0¢ Sentiment: Buy Disclosure: Held
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Last 11.0¢		Change -0.005(4.35%)		Mkt cap ! $124.7M

Open	High	Low	Value	Volume
11.5¢	11.5¢	11.0¢	$28.84K	252.8K

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No.	Vol.	Price($)
20	1185123	11.0¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
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0.115	195683	5
0.120	360	1
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Ann: Daydream 2 Impressive Initial Flow Test, page-169

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