Elixir Energy Ltd (ASX:EXR) has reported a significant achievement at its Grandis project in Queensland, potentially recording the deepest unstimulated gas flow in onshore Australia, east of the Perth Basin. The Lorelle Sandstone at the Daydream-2 well demonstrated an initial flow test with a stabilized rate of 1.3 million standard cubic feet per day, peaking at 2.3 million without stimulation. This development underscores the unconventional resource potential of the Taroom Trough, with Elixir Energy's managing director Neil Young highlighting the Lorelle Sandstone's capacity to significantly boost the project's output and economic viability.
The Grandis project's proximity to the Wallumbilla gas hub positions it as a critical player in mitigating the anticipated domestic gas shortage. Young's remarks suggest that this could herald the emergence of a new, strategically located gas play in Queensland, potentially transforming the Australian gas industry landscape. The initial flow test results, while promising, are just the beginning, with Elixir Energy preparing for the stimulation phase to further explore the Lorelle Sandstone's capabilities.
Optimism surrounds the project's future, with the potential to redefine Australia's energy sector. The Grandis project, with its strategic location and substantial reserves, is poised to contribute significantly to meeting the nation's energy needs. For further details, visit https://newsdirect.com/news/elixir-energy-could-have-deepest-unstimulated-gas-flow-in-onshore-australia-east-of-perth-basin-390551409.
