Gas During the quarter, the well testing program for the Lockyer Deep-1 conventional gas well, located on Exploration Permit EP368 in the onshore northern Perth Basin, was completed. Refer to the ASX Announcement dated 28 March 2022. Highlights from the well test program include: • An instantaneous maximum gas flow rate of 117 per million standard cubic feet of gas per day; • Excellent conventional reservoir quality and well deliverability encountered in the Kingia Sandstone; • Gas characterised by low impurities of CO2 (less than 4%) and H2S (less than 3 ppm); and • Condensate was also recovered to surface with a preliminary condensate gas ratio of 5-6 barrels per million standard cubic feet of gas (CGR 5.5). The Ringneck 2D seismic survey on exploration permits EP368 and EP426 was completed in March 2022. The survey is designed to enhance the sub-surface data set around the Lockyer Deep-1 well to provide drilling locations for future wells. The Charger 2D seismic survey commenced late in the quarter and remains underway on permits EP454, EP430 and EP507. These permits are located in the central Perth Basin to the south of Lockyer Deep-1. Mineral Resources Limited - Quarterly Exploration and Mining Activities Report – January to March 2022 (Q3 FY22) 6/6 Processing of data on the Romanesque 3D survey is nearing completion, with the survey designed to identify additional drilling targets close to MinRes’ 10TJ/day Red Gully Gas Processing Facility located near Gingin, which is currently in care and maintenance.
NWE Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
