(NewsDirect)
Elixir Energy CEO Neil Young joined SteveDarling from Proactive to offer an intriguing update on the ongoingdevelopments at the Daydream-2 appraisal well within the Grandis GasProject, nestled in the Taroom Trough of the Bowen Basin,Queensland.
In a surprising turn ofevents, Young shared the exciting news of an unexpected discovery —a naturally permeable gas-bearing zone that emerged without any needfor stimulation.
As the operationprogressed, Daydream-2 achieved a total depth of 4,300 metersovernight, surpassing the original depth target by approximately 100meters. This extension in depth was driven by the consistentrevelation of gas levels exceeding initial pre-drill estimates.
This deeper total depth not only signifiesa promising find but also grants enhanced operational flexibility forthe upcoming phases of Elixir Energy's appraisal plans for thewell.
During the final 100 metersof drilling, an intriguing phenomenon occurred, characterized by arapid surge in the rate of well penetration. This phenomenon coincidedwith a notable influx of gas from the formation into the wellbore,underscoring the significance of this discovery.
With this development in mind, the nextsteps in the project involve acquiring wireline logs and conducting acomprehensive petrophysical evaluation. Subsequently, the well will becased and suspended.
Once allpertinent data has been meticulously compiled, Elixir Energy willmeticulously craft its forward plan, which will encompass an extensiveevaluation process, completion activities, and production testing forthis exceptional well.
This captivating revelation at theDaydream-2 appraisal well represents a significant milestone in theGrandis Gas Project and reflects Elixir Energy's commitment toadvancing its exploration and production efforts in the ever-promisingenergy sector, potentially opening new avenues for energy supply andresource development in Queensland.
ContactDetails
Proactive Investors
+1 604-688-8158
na-editorial@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.