Ann: Daydream-2 Operations Update, page-150

Of course there are non flow rates.

BUT.....

Extended Trading halt.... AND lots of speculations. Lets re wrap the announcement. And indication of flow rates is .....

"Data acquired during the Lorelle Sandstone flow periods has been used to predict the initial gas flow
rate and ultimate recovery for each well from this lowermost zone. Elixir’s technical and economic
modelling1
indicates the Lorelle Sandstone alone could produce a commercial flow rate of gas, with
the breakeven commercial initial flowrate being estimated at 2.5 million cubic feet per day"

I guess this is their peak flow rate pre stimulation?????? Anyone better informed?

Now the BAD news....

"Since the stimulation and flow-back of the Lorelle Sandstone, Elixir has sustained a number of
logistical and other operational delays. After successfully isolating the Lorelle Sandstone with a bridge
plug to proceed with the next stimulation stage, the setting mechanism became lodged in the hole
requiring remedial activity. This delay has resulted in the full stimulation program not being able to be
completed before the hard deadline for certain equipment to leave the site to meet commitments with
another operator."

Im pretty sure these guys were the pro's, (Halliburton) contracted to do 6 zones of stimulation. How is that they are commited to leave the site if Their setting mechanism experienced problems.

You know what I would not question any of this operational stuff of which i have no experience or idea, if this fundamental reason for the halt and delays had not been delayed and wrapped up in a commercial viability statement that is not binding, indicative, or in any way provides any concrete information on the result of the stimulation.

Bad news