Ann: Nomgon Pilot Update, page-83

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jctrout

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15/05/23

15:42

Post #: 67781143
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Originally posted by cipherz0r: ↑

Just doing some backward reading into previous announcements...

16th of November we initiated dewatering and had been operational for 83 days (per quarterly 7th of Feb)...

"Last week the combined production from the Nomgon-8 and 9 wells reached 100,000 standard cubic
feet per day (scfpd) of gas and 180 barrels per day (BWPD) of water and continues to improve steadily."

"Nomgon-9 produces like a typical vertical CBM well, and gas rates have increased steadily over the
period, producing at a rate of ~80,000 scfpd last week. The water production has remained relatively
steady at ~160 BWPD. Currently the well is shut-in to perform a routine pressure build-up study with
production testing to then recommence."

Nomgon 9 after 83 days was producing 80,000 scfpd

Then as per CBM Pilot Project update on the 24th March....

Since pilot production from Nomgon-8 and 9 wells passed the milestone of 200,000 standard cubic
feet per day (scfpd) of gas for the first time earlier this month, Elixir has again shut-in the two wells to
record downhole pressure buildups. The pressure plot from Nomgon-9 during the early stages of the
shows a strong buildup indicating good reservoir pressure support.

It was in this announcement some work was communicated (as is natural to the process) and would take ten days or so.

& finally as per todays announcement....

"The Nomgon-9 well has successfully been brought back into production, with various experiments
being conducted to control rates (which have ranged up to 76,000 standard cubic feet per day) whilst
monitoring the back pressure and fluid (water) level in the well."

"Water flow rates have remaining stable in the last few weeks at ~105 barrels of water per day, which
is a strong indicator of increased desorbed gas flows emerging in the future."

Without knowing precisely when Nomgon 9 was turned back on as such, isn't this displaying we've reached almost the initial 80,000 scfpd, at a maximum timeline of say 6 weeks (i.e approx half the time of the 83 day initial feedback) - since our rework and flushing of the system? Now I'm a complete and utter novice on how this works but doesn't that speak to more efficient pilot progress regarding scfpd? at a lower BOWPD ammount?

Doesn't this all stack up to working out the best path forward on efficiency, as such that proof of concept is improving and we are working toward finding the most cost effective way to achieve flow?

Happy to be completely wrong here and not afriad to say today has rattled the cage and my faith a little bit.

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I'd like to hear this from the company itself, they should be doing better at communicating results like this if they are so positive

EXR Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
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Ann: Nomgon Pilot Update, page-83

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Ann: Nomgon Pilot Update, page-83

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