Elixir Energy identifies significant gas resource at Daydream 2
February 21, 2024 at 01:46 pm EST
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Elixir Energy Ltd (ASX:EXR OTC:ELXPF) managing director Neil Young sits down with Jonathan Jackson in the Proactive studio to discuss the identification of a significant gas resource at Daydream 2, part of its Grandis Gas Project in Queensland. The company has completed desorption analysis on coal cuttings, with samples used to analyse the gas content of the hydrocarbons using traditional coal bed methane methods. The company revealed a new prospective source of gas, having been adsorbed into the coals, averaging about 23 cubic metres per tonne in their raw state, which translates to 34 cubic metres per tonne minus dry ash. It also re-assessed its prospective resource to include the adsorbed gas element, increasing the total un-risked prospective resources (2U) in ATP 2044 to 3.6 trillion cubic feet of gas. The company is now working to convert the resources into discovered contingent resources, with plenty of newsflow expected over the coming weeks.
“We are naturally pleased to announce this very substantial increase in our already very large prospective resources in the coals in ATP 2044," Young said. "To our knowledge, conducting coal content analysis on deep formations in this fashion was a first in Australia and, as such, is a tribute to the innovative mind set of our internal team and supportive service providers."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Elixir Energy Limited is an Australia-based gas exploration and development company. The Company is focused on primarily focused on an exploration and appraisal program targeting natural gas in the form of coal-bed methane (CBM) in Queensland, Australia and the South Gobi, Mongolia. It is also developing Gobi H2 green hydrogen project and solar project in Mongolia. The Company holds 100% of a Queensland exploration permit ATP 2044, named Grandis Gas Project, located in the Taroom Trough of the Bowen Basin, Queensland. Its Grandis Gas Project covers an area of 1,000 square kilometers (km2) located close to existing gas transmission infrastructure centered on the Wallumbilla gas hub. he Nomgon IX CBM PSC (Nomgon Project) is located on the Mongolian Chinese border, around 400 kilometers (km) North of Chinaâs main gas transmission grid. The Nomgon Project license area covers 30,000 km2 (seven million acres). Its subsidiaries include Golden Horde Pty Ltd, GOH LLC, GOH Clean Energy LLC.