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.
EXR Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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