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, as highlighted by Elixir Energy's managing director Neil Young.
Young emphasized 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 key player in mitigating the anticipated domestic gas shortage. This discovery could herald a new, strategically located gas play in Queensland, with far-reaching implications for the Australian gas industry.
Following the promising initial flow test results, Elixir Energy is preparing for the stimulation phase, which is expected to further exploit the Lorelle Sandstone's potential. Young's optimism about the project's future reflects its potential to be a game-changer in the Australian gas 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.
