PURE HYDROGEN CORPORATION LIMITED Very good gas shows were recorded in the uppermost 3 to 5 metre thick coal seams with fair to good gas shows in the deeper thinner coal seams. Current operations are conducting wireline logging. Over the weekend, the Juandah coals will be underreamed before running a liner. A wellhead will then be installed and the Silver City Drilling rig will be demobilized.
The results of the well will be integrated into a coil tubing-deployed reservoir stimulation program designed to improve water influx and, ultimately, gas flows from the targeted gassy coals. To compare the before and after stimulation results, a pre- and post-stimulation short-term controlled water influx test will be carried out.
The post-stimulation water influx rate and other data are needed to design optimum production equipment and methods for Venus-1 as required to carry out a controlled drawdown production pilot flow test over several months.
The Venus-1 production pilot test is designed to prove initial gas breakout and increasing gas flows over the controlled draw down period as required to model and predict future gas flow rates and potentially commercial gas flow rates.
The results of the production pilot test will also be used to either expand the pilot or, if commercial flow rates are achieved, commence an aggressive appraisal program designed to certify sufficient reserves for the Project Venus JV to secure gas sales agreements, allowing commercial field development.
About Project Venus
The 154 km2 Project Venus (Strata-X 50%/
Strata-X and Real merging to form Pure Energy
As announced on
By order of the Board of
This announcement was made in
Public documents for
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which relate to future events or future performance, including but not limited to, the completion and size of the Placement, receipt of regulatory approvals and timing thereof, the Corporation's business strategies and plans for the use of such Placement proceeds, capital expenditure programs and estimates relating to timing and costs, and reflect management's current expectations and assumptions, including, but not limited to the timing and receipt of necessary regulatory approvals and third party approvals and completion of the Placement and stability of general economic and financial market conditions. The use of any of the words 'anticipate', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'should', 'believe', and similar expressions is intended to identify forward-looking statements. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company.
Those factors are not, and should not be construed as being exhaustive. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Contact:
Tel: +1 403-483-8363
Email: colin@strata-x.com
(C) 2020 Electronic News Publishing, source
