Blue Energy Limited (ASX: BLU) has received notification from the Queensland Department of Resources indicating the rejection of the nine Potential Commercial Area applications (PCA’s) pertaining to Blue's ATP 813P area in the Galilee Basin. Blue is the sole holder of ATP 813. As part of its work program, Blue has conducted drilling operations encompassing six exploration coreholes within the permit area. Independent experts, NSAI, evaluated the operations and estimated a significant 838 PJ+ Contingent Resource (3C recoverable gas) within the tenure.
In February 2018, Blue Energy submitted nine separate Potential Commercial Area (PCA) applications to the Queensland Department of Resources following gas discoveries in all six core holes drilled. The applications aimed to demonstrate the coal seam gas reservoir's regional extent, featuring comprehensive evaluation work programs, including nine core wells for the initial four-year period, with options for additional pilot production test wells.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
