Share
2,532 Posts.
lightbulb Created with Sketch. 456
clock Created with Sketch. 30/04/21
22:24
Share
Originally posted by Wonkers:
↑
Great Qtrly!, a 91.66% success rate (so far ) of intersecting coals...an "exceptional strike rate for any region"STILL to be drilled this year, AND the bloody exciting 3D seismic to come to enable even more precise locational drilling activity into 2022 and beyond....and even after all that we're still really only just beginning to explore a 30,000 sq klm plot absolutely laden with coals. Of course we can't really expect to maintain such a success rate, but even a 60% strike rate , given the total PSC mass, would be pretty darn good."As at the date of this report, Elixir has drilled 12 wells in the PSC – 11 of which intersected coal. We consider this an exceptional strike rate for any region, let alone one of the sheer size and underexplored nature of our PSC. The exploration and appraisal processes for CBM are naturally exposed to geological variation for each particular well – it is the overall results from a total program which will determine success. "We are very well placed in all the areas required for such success – ample funding, foundation discoveries made to date, a strong in-country team and relationships, our Australian technical team, and multi-dimensional down-stream optionality."
Expand
I think we are all fortunate to get more shares at these prices at this point in time. The future should be good for EXR given the program to unfold. The drilling program is great too say the least, however when they flow some pilot wells do you think it’s going to be below 50c when the world’s eyes are watching. Nahhh don’t think it will matter what today is in a few months. Flick of the white glove with that thought
(20min delay)