EXR - Elixir Energy

[access]

Awaiting drill results. Expected to exceed what they expected to find.

 

[access]

Grandis drill results in Qld were above expectations. Awaiting analysis of these results.

 

[noirua]

Elixir reports rise of 328% in contingent resources at QLD gas project

Elixir Energy Ltd has reported an upgrade of 328% in its contingent resources at Queensland's Grandis Gas Project.

themarketonline.com.au

Managing director Neil Young said the company aimed to continue appraisal work in the near future, and was hoping to gain another upgrade.

“We are naturally delighted with the ongoing material build-up of the very significant contingent resources in our exceptionally well-located Project Grandis,” he said.

 

[access]

Evaluation of Daydream 2 to re-commence this week.

Should have some results release as they progress through different zones over the next month.

 

[Dona Ferentes]

Evaluation of Daydream 2 to re-commence this week... Should have some results release as they progress through different zones over the next month.

and early numbers are very promising...

DAYDREAM-2 OPERATIONS UPDATE
....an update on the Daydream-2
program in its 100%-owned Grandis Project in Queensland’s Taroom Trough.

The flow test of the Lorelle Sandstone post stimulation was completed yesterday. On-site operations have now moved to the stimulation of the 5 upper zones.
- Gas flare of approximately 3 MMSCFPD from Daydream-2
____________________________
HIGHLIGHTS
• Lorelle Sandstone flows gas at stabilized flow rates of 2.1 and 2.5 MMSCFPD
• Flow rate of Lorelle zone alone approaching the modelled economic hurdle
• Five stage stimulation program now underway

from the M.D.

“Achieving a potentially commercial flow-rate from only a single zone in Daydream-2 is a massive out-performance of all our expectations at the start of the well...

"There is a lot more news to come in the next few weeks and our vision that the Taroom Trough may be a major new supplier of gas to the desperately short Australian gas market – as well as the under-utilised LNG plants in Queensland – is coming close to fruition.”

 

[access]

Thank you for the reminder Joe, thought I had lodged a comment.

EXR are now cleaning out the Daydream 2 well and should be able to provide flow rates for the remaining 5 zones by the end of September. I am expecting a very good result.

 

[mullokintyre]

Thank you for the reminder Joe, thought I had lodged a comment.

EXR are now cleaning out the Daydream 2 well and should be able to provide flow rates for the remaining 5 zones by the end of September. I am expecting a very good result.

Thanks for pointing this one out, @access , I took a small position on this one.
I hope you have a large one.
Your expectations may well be fulfilled if the results can affirm what has been hinted at.
It won't do me me any harm either.
Mick

 

[access]

The Coil Tubing Unit has only now been released by Shell next door.

We should have flow rates for Daydream 2 within the next couple of weeks after the hole is cleaned out.

 

[mullokintyre]

EXR absolutely smashed today, down 60%.
It seems that the drilling is a dud.
Interesting wording by the company in that it was "pleased" to provide an update, given that they have said that the well will go into care and maintenance to be a future gas provide.
Oh well, can't win em all.
Mick

 

[mullokintyre]

An MOU.
When you read it, it does not exactly tell me much.
Words like promote, investigate , possible future sound like marketing talk to me.
Mick

 

[mullokintyre]

EXR hit another 52 week low today.
Quarterly out says it will run out of cash before the end of the next quarter.
Will take my loss on this one and move on.
Mick