December 2024 Quarterly Activities & Cash Flow Report

KEY HIGHLIGHTS During the quarter the Sapphire 5 and 6 lateral pilot wells continued on production testing but with interruptions in production caused by surface facility maintenance issues (generators). Both Pilots are again running and continue to produce gas at a rate which is building as the dewatering process recommences. The Research and Development tax…

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December 2024 Quarterly Activities & Cash Flow Report

KEY HIGHLIGHTS During the quarter the Sapphire 5 and 6 lateral pilot wells continued on production testing but with interruptions in production caused by surface facility maintenance issues (generators). Both Pilots are again running and continue to produce gas at a rate which is building as the dewatering process recommences. The Research and Development tax…

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September 2024 Quarterly Activities & Cash Flow Report

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…

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September 2024 Quarterly Activities & Cash Flow Report

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…

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June 2024 Quarterly Activities & Cash Flow Report

KEY HIGHLIGHTS Sapphire Pilot Status: The Sapphire 5 and 6 lateral pilot wells continue to be production tested with the aggregate gas flow rate for the Sapphire pilot showing an increasing trend to 0.140 TJ/day. The lower most coal seams remain below the current water level in the vertical wells and so still require dewatering.…

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March 2024 Quarterly Activities & Cash Flow Report

Key Highlights Closing cash balance $5.4m Sapphire 5 lateral pilot wells reinstated, aggregate gas flow rate increased to 0.12TJ/day QPM confirmed intention to take gas Blue makes available for delivery to MGP as per 2023 MOU Awaiting outcome of application for QLD Government’s Frontier Gas Exploration $21 million Grants Program Geoscience Australia regional raw 2D…

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March 2024 Quarterly Activities and Cash Flow Report

Key Highlights Closing cash balance $5.4m Sapphire 5 lateral pilot wells reinstated, aggregate gas flow rate increased to 0.12TJ/day QPM confirmed intention to take gas Blue makes available for delivery to MGP as per 2023 MOU Awaiting outcome of application for QLD Government’s Frontier Gas Exploration $21 million Grants Program Geoscience Australia regional raw 2D…

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