Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) managing director Neil Young joins Proactive’s Tylah Tully to discuss the company’s first ever successful flow of gas from deep coals in the Taroom Trough, Queensland, through its Daydream-2 well at Project Grandis.
The gas flowed to the surface unassisted from coal seams situated between 3,786 and 3,678 metres deep, marking a significant milestone as the deepest coal in Australia to achieve this.
Young described the achievement as a “fantastic outcome” highlighting the potential of the deep coals, which are estimated to contain trillions of cubic feet of gas.
The company is now transitioning to the next phase of the project, which involves consolidating the flow results from the six separate stimulated zones in the well. This will aid in converting the prospective resources into contingent resources, an essential step for resource certification.
The timing of further announcements will depend on the flow test results and other operational factors.