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Duh!....forgot an important bullet point:Converted some of the...

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Wonkers

2,485 Posts.

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15/12/23

16:10

Post #: 71475218
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Originally posted by Wonkers: ↑

So,
Emotions have run a bit- I'm guilty of it, hands-up.
In the cold light of a new day, let's recap factually- without the Wonkers cheerleading bias.:

have I missed anything factual ?

In the space of 16 months EXR have:
Acquired Grandis August 2022.
Lined up all the ducks (permits, appease all the stakeholders etc) - green light to proceed
Secured an in-demand , scarce and appropriate rig and crew
Received a 48.5% ATO R&D rebate grant
Locked in a loan instrument to leverage that grant
Signed a data sharing agreement with Santos on our ATP and theirs to the north of us.
Received $1million from Origin towards the drill cost- with an option for a potential 4-5 further drills, for them to evaluate CCS potential.
Drilled to 4200metres - on time and budget (this was all fully funded)
Gushed free flowing conventional gas, unexpectedly (but no associated data as yet as to the size/porosity/permeability of reservoir)
Raised a further $6.5mill pre costs (assume $6.1 nett) via 2 brokers- 1 for 3 12c oppies attached- Total share issuance (pre oppies) = +76million shares reflecting in a new diluted total SOI circa 1.12 billion.
Funds primarily to be used to expand imminent Daydream-2 stimulation and testing program
Released Preliminary results showing 154m net pay to date, good overpressure psi.
Gaseous coal zones of 65metres also logged- these thermally mature coals will be targeted for stimulation and flow testing in the 2024 program.
Coal cutting with labs for analysis currently- results to be released ASAP
Program of stimulation and flow testing to begin early 2024 (Feb/March)- now with further funding pool to ease any constraints and enable optimal program courtesy of the recent additional $6.5 mill placement (assume $6.1 nett)

Expand

Duh!....forgot an important bullet point:

Converted some of the sandstones (only) from a Prospective resource into Contingent: 395 bcf at 2C.
EXR Price at posting: 8.1¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Duh!....forgot an important bullet point:Converted some of the...

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Duh!....forgot an important bullet point:Converted some of the...

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