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Elixir Energy identifies significant gas resource at Daydream 2

–News Direct–

Elixir Energy Ltd (ASX:EXR OTC:ELXPF) managing director Neil Young sits down with Jonathan Jackson in the Proactive studio to discuss the identification of a significant gas resource at Daydream 2, part of its Grandis Gas Project in Queensland. The company has completed desorption analysis on coal cuttings, with samples used to analyse the gas content of the hydrocarbons using traditional coal bed methane methods. The company revealed a new prospective source of gas, having been adsorbed into the coals, averaging about 23 cubic metres per tonne in their raw state, which translates to 34 cubic metres per tonne minus dry ash. It also re-assessed its prospective resource to include the adsorbed gas element, increasing the total un-risked prospective resources (2U) in ATP 2044 to 3.6 trillion cubic feet of gas. The company is now working to convert the resources into discovered contingent resources, with plenty of newsflow expected over the coming weeks.

We are naturally pleased to announce this very substantial increase in our already very large prospective resources in the coals in ATP 2044," Young said. "To our knowledge, conducting coal content analysis on deep formations in this fashion was a first in Australia and, as such, is a tribute to the innovative mind set of our internal team and supportive service providers."

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

[email protected]

View source version on newsdirect.com: https://newsdirect.com/news/elixir-energy-identifies-significant-gas-resource-at-daydream-2-211069861

ELIXIR ENERGY LIMITED

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