Trading Week, page-48

From Ann's 8 July 2020 NOMGON 1 final results

Elixir’s Managing Director, Mr Neil Young, said: “Identifying fully gas saturated coals in Nomgon-1 is
an excellent result, given the very positive consequences this should have for coal seam gas pilot
production testing and ultimately a field development. Nomgon-1’s very thick coals that have now
been identified as being fully gas saturated suggest a potentially very energy intensive per acre
resource has been found.
• Pilot production design could be substantially simpler and cheaper. Presuming a successful
appraisal campaign in 2020, Elixir will aim to conduct a pilot production test in 2021.
• Production testing should be characterized by early gas production, not a lengthy water
producing phase to induce pressure draw-down and gas breakthrough.
• Water management issues in the development phase could become simpler and cheaper,
hence significantly improving gas production economics

Neil said that before NOM 2 spudded and S3 thick coals intersected.
He was very confident way back then, now with NOM 2 and S3 results pending, EXR is de risked even more!!!
PS,
i like to read old Ann's that over time play out exactly as Neil said.