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Elixir Energy uncovers unexpected naturally permeable gas bearing zone at Daydream-2

–News Direct–

Elixir Energy CEO Neil Young joined Steve Darling from Proactive to offer an intriguing update on the ongoing developments at the Daydream-2 appraisal well within the Grandis Gas Project, nestled in the Taroom Trough of the Bowen Basin, Queensland.

In a surprising turn of events, Young shared the exciting news of an unexpected discovery a naturally permeable gas-bearing zone that emerged without any need for stimulation.

As the operation progressed, Daydream-2 achieved a total depth of 4,300 meters overnight, surpassing the original depth target by approximately 100 meters. This extension in depth was driven by the consistent revelation of gas levels exceeding initial pre-drill estimates.

This deeper total depth not only signifies a promising find but also grants enhanced operational flexibility for the upcoming phases of Elixir Energy's appraisal plans for the well.

During the final 100 meters of drilling, an intriguing phenomenon occurred, characterized by a rapid surge in the rate of well penetration. This phenomenon coincided with a notable influx of gas from the formation into the wellbore, underscoring the significance of this discovery.

With this development in mind, the next steps in the project involve acquiring wireline logs and conducting a comprehensive petrophysical evaluation. Subsequently, the well will be cased and suspended.

Once all pertinent data has been meticulously compiled, Elixir Energy will meticulously craft its forward plan, which will encompass an extensive evaluation process, completion activities, and production testing for this exceptional well.

This captivating revelation at the Daydream-2 appraisal well represents a significant milestone in the Grandis Gas Project and reflects Elixir Energy's commitment to advancing its exploration and production efforts in the ever-promising energy sector, potentially opening new avenues for energy supply and resource development in Queensland.

Contact Details

Proactive Investors

+1 604-688-8158

na-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/elixir-energy-uncovers-unexpected-naturally-permeable-gas-bearing-zone-at-daydream-2-381781339

Elixir Energy Ltd

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