The Project has one of the largest contingent gas resources on the east coast and is strongly positioned to supply the AEMO's forecast eastern Australian domestic market gas shortfall in the early 2020's. The Project's independently derived and certified Contingent Resource within the
Glenaras Pilot Enhancement Programme
Each of the eleven wells at the Glenaras multi-well pilot ('Pilot') are now on continuous production. Since the commencement of production from the new vertical wells, there has been demonstrable gas production through the water line system. To enable us to quantify this additional gas production, a separator has recently been installed in these lines to separate and measure this incremental gas volume. The metered gas rate, measured using an Accelabar flowmeter, has reached a daily average of 50 Mscfd in aggregate representing the highest recorded gas rate thus far at the Pilot.
Water rates from the lateral wells have continued to decline and are now at 4,600 BWPD, which is a clear indication of pressure depletion in the central area of the Pilot. The water rates from the additional six wells are exceeding the estimated rates from the recent Schlumberger reservoir modelling which bodes well for achieving the Pilot's intended objective of accelerating the depressurisation process and achieving commercial gas flow rates. The total water rate from all eleven wells at the Pilot is 14,300 BWPD. We expect to see an increase in this gas rate in the coming weeks/months as we lower the reservoir pressure within the Pilot area below the critical desorption pressure and will keep the market informed of significant changes.
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