KEY HIGHLIGHTS

• During the quarter the Sapphire 5 and 6 lateral pilot wells continued on production testing with the aggregate gas flow rate for the Sapphire pilot showing an increasing trend to 0.150 TJ/day. The Board has resolved to continue the production testing of the Sapphire Pilot and for the time being has deferred the potential drilling of a twinned Sapphire lateral pilot well.
• Significant potential gas prospective sedimentary section has been identified in large tracts of Blue’s Northern Territory tenements from processed 2D seismic data – confirming the initial thesis of the large westerly extent of the gas prospective McArthur Basin sequence.
• In the land Court matter relating to the issuance of an Environmental Authority by the Qld Department of Environment Science and Innovation, Blue is working to define the list of issues for its expert witnesses, in conjunction with the Appellant’s expert witnesses, to brief the Land Court in the matter, as part of the Court Managed Expert Evidence process set down by the Land Court to be followed in the matter.

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Sep 2024 Quarterly Activities and Cash Flow