Elixir Energy Ltd (ASX:EXR) has achieved a remarkable feat at its 100%-owned Grandis project in Queensland, potentially marking the deepest unstimulated gas flow in onshore Australia, east of the Perth Basin. The Lorelle Sandstone at the Daydream-2 well exhibited an impressive initial flow test, achieving a stabilized rate of 1.3 million standard cubic feet per day, peaking at 2.3 million without stimulation.
According to Elixir Energy’s managing director Neil Young, this achievement is not just a one-off event but a significant indicator of the Taroom Trough’s unconventional resource potential. ‘The Lorelle Sandstone is poised to substantially enhance the project’s output and economic prospects,’ Young stated enthusiastically.
Situated adjacent to the Wallumbilla gas hub, the Grandis project’s location could prove crucial in addressing the looming domestic gas shortage. Young hinted that this could be the beginning of a new, strategically located gas play in Queensland, a development that could reshape the Australian gas industry.
While the initial flow test results are promising, Elixir Energy is gearing up for the stimulation phase, which could further unlock the Lorelle Sandstone’s potential. Young expressed optimism about the project’s future, suggesting that this discovery could be a game-changer for the Australian gas industry. With its strategic location and promising reserves, the Grandis project could play a pivotal role in meeting the nation’s energy demands. For more information, visit https://newsdirect.com/news/elixir-energy-could-have-deepest-unstimulated-gas-flow-in-onshore-australia-east-of-perth-basin-390551409.
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Elixir Energy’s Grandis Project Uncovers Potential Game-Changer for Australian Gas Industry.