Blue Energy Limited (AU:BLU) has released an update.
Blue Energy Limited reports increased gas flow rates from its Sapphire Pilot wells in Queensland and the Northern Territory, with an ongoing upward trend currently at 0.140 TJ/day. The company has identified drilling fluid damage as a cause for sub-optimal gas flow, which is under review to optimize production. Additionally, Blue has processed new seismic data which confirms potential continuous sedimentary sections, and is actively defending its Environmental Authority for the proposed Production Licence Application in court against environmental appeals.
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