Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
‘President of peace’: Trump tapped for Nobel Prize...
Trump’s push for Putin-Zelenskyy talks hinges on Kremlin’s...
Israel eliminates Gaza terrorist who took part in...
White House rejects ‘blank checks’ for Ukraine, presses...
Justice Barrett teases new memoir in abrupt conference...
Schiff launches legal defense fund in response to...
Gabbard removes clearances from 37 officials at Trump’s...
Russia launches largest attack on Ukraine this month...
Trump slams mail-in ballots as corrupt, but may...
I made memes for the White House. Here’s...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

New Resource Booking

by admin November 4, 2024
November 4, 2024
New Resource Booking

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an update on a new resource booking for its 100% owned ATP 2077, located in the Taroom Trough in Queensland, Australia.

HIGHLIGHTS

  • Prospective resources of 712 billion cubic feet (2U) booked in Sub-Block B of ATP 2077
  • Farmout campaign for the Diona Block (Sub-Block C of ATP 2077) well under way
  • Updated contingent resources for ATP 2044 expected before year end

Although one licence, ATP 2077 is broken into 3 geographically separate sub blocks (see map below). Sub-Block A is located immediately proximate to ATP 2044 and contains similar Taroom Trough geology. A contingent resource booking was announced when the block was awarded (see ASX announcement of 19 August 2024). Sub-Block B also overlies the Taroom Trough, however given the further distance from Project Grandis the resource here is considered prospective in nature – at this stage. Sub-Block C lies outside the Taroom Trough, is immediately adjacent to existing gas infrastructure and is prospective for shallower conventional oil and/or gas drilling targets.

Based on recent internal technical work undertaken, Elixir has booked a prospective resource estimate for ATP 2077 Sub-Block B – see table below.

Notes to Prospective Report Table:

1. These are un-risked prospective resources that have not been risked for geological success or the chance of development. The chance of success for tight sands and deep coal was estimated at 65% and 27% respectively. Both targets are considered trapped in an unconventional setting. The chance of commercial development is estimated at 50% for each.

2. Each reservoir target was evaluated probabilistically and the totals added arithmetically.

3. Prospective Resources have been assessed on the basis that they are unconventional in nature.

4. ATP is an Authority To Prospect, which allows a company to explore for hydrocarbons in Queensland.

5. Prospective Resources are those estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) related to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further explorations appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. These Prospective Resource estimates are for the tight sandstones and deep Permian coals within Block B only. The estimates assume the same Basin Centered Gas (BCG) play is present, and similar reservoir parameters to ATP 2044 have been used. The block is mature for drilling, and exploration drilling may occur in the years to come.

6. Elixir’s technical team analyzed seismic, drilling, logging and test data to make these estimates. Specific analysis undertaken included seismic interpretation, geological correlations, core analysis, wireline petrophysics, chromatographic gas analysis and production test analysis.

7. Further detailed notes on the background to the preparation of the Prospective Resource Report are set out in Appendix 1.

In ATP-2077 Sub-Block C (also known as the Diona Block), Elixir is currently conducting farmout negotiations under which it is seeking an incoming party to fund the cost of an exploration well. The Company will provide an update on these in due course.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Binding Agreement to Acquire 2D Generation
next post
Sen. Mike Lee warns Democrats would ‘Rule America uncontested for 100 years’ if they sweep 2024 elections

You may also like

CHARBONE Hydrogen Provides Update on Grid Interconnection with...

March 6, 2025

David Erfle: Cash Position Never Larger, Chaos and...

January 17, 2025

Summary of Pre-Feasibility Study for Nueva Sabana Mine

January 13, 2025

Troy Minerals Strengthens Leadership Team

November 7, 2024

Providence Extends Private Placement

March 29, 2025

First Helium Initiates Process to License & Drill...

November 13, 2024

Nuclear Fuels Announces the Discovery of New Mineralized...

January 29, 2025

Board Approves Development of Boorara

August 3, 2024

Global Outcry Mounts Over Trump’s Tariff Blitz Ahead...

July 15, 2025

Top 10 Oil-producing Countries (Updated 2024)

July 22, 2024

Recent Posts

  • ‘President of peace’: Trump tapped for Nobel Prize amid talks to end Russia-Ukraine war
  • Trump’s push for Putin-Zelenskyy talks hinges on Kremlin’s conditions
  • Israel eliminates Gaza terrorist who took part in October attack on kibbutz, took Yarden Bibas hostage
  • White House rejects ‘blank checks’ for Ukraine, presses NATO to shoulder costs
  • Justice Barrett teases new memoir in abrupt conference exit

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (881)
    • Investing (2,793)
    • Politics (3,430)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.