Elixir Energy confirms upper zone flow at Daydream-2

Proactive - Interviews for investors

Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) managing director Neil Young joins Proactive’s Tylah Tully to discuss it’s Daydream-2 well progress, located at the Project Grandis site in Queensland. The company has confirmed a production logging tool (PLT) has been used to evaluate the majority of the key stimulated zones of the Daydream-2 well. The analysis confirms that the upper zones are contributing to the flow, though the lower zone is currently dominating. Fluid and proppant accumulation at the bottom of the well is affecting the optimal flow rate. The company plans to bring back the Coil Tubing Unit (CTU), which is currently deployed with a neighbouring operator, to the Daydream-2 site. This will allow for nitrogen lift and clean-out procedures to improve the flow rate. This work is expected to occur before the end of the month but depends on the pace of operations at the neighbouring site. Young expressed satisfaction with the confirmation of flow from the upper zones, despite a slight delay in operations. He highlighted that the delays are due to increased activity in the Taroom Trough, which is becoming increasingly significant for Australia's gas supply. #Proactiveinvestors #ASX #ElixirEnergy, #Daydream2, #ProjectGrandis, #QueenslandGas, #TaroomTrough, #EnergyExploration, #GasFlow, #CoilTubingUnit, #NitrogenLift, #NeilYoung, #FlowTesting, #Wellbore, #UpperZones, #LowerZones, #AustraliaEnergy, #GasSupplies, #ProductionLoggingTool, #Proppant, #CleanOut, #HecticPace #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews