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Elixir Petroleum encouraged by 861 billion cubic feet of gas resource potential for French permit

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Elixir Petroleum (ASX: EXR) has received an independent mean unrisked prospective recoverable resource estimate of 861 billion cubic feet of conventional gas for its Moselle Permit in the Saar Lorraine Basin, France.

RPS Energy Services based this estimate on the assumption that Elixir finds hydrocarbons in all sequences at the Nancy East, Bullseye and West Chaumont prospects.

Taking just one success at each prospect, RPS estimated a mean unrisked prospective recoverable resource of 157Bcf with an 80% geological probability of success.

Should oil be found in the Lower Triassic of in both the Bullseye and West Chaumont prospects, prospective recoverable oil resources could be 76 million barrels.

A number of conventional prospects additional to those above have also been identified within the Moselle Permit but were not included within the scope of work.

 

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ASX:EXR
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Market Cap: $18.03 m
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