Real Energy Corp’s Progress On Windorah Gas Project

  • Nov 30, 2018 AEDT
  • Team Kalkine
Real Energy Corp’s Progress On Windorah Gas Project

Real Energy Corporation Limited’s (ASX: RLE) Windorah gas project is in the cooper basin and the group is the foremost producer of various natural resources such as gas, NLG, Condensate and oil in SA and QLD. Till date more than 3100 petroleum wells have already been drilled in the basin.

It has proximity to the major gas pipelines and the LNG grid. Also, it is strategically placed to provide gas supplies to the Australian gas markets which have a scarcity of gas, specifically the eastern Australia gas markets. These sorts of conditions would remain so even for the next five years, leading to a continuous generation of demand in this region. Also, it has an easy access to the ports which would lead to connecting it easily with the export market. The prevailing spot price due to the scarcity of gas at the east coast is around $11.25/Gj. The firm has got a 100% ownership in Queensland permits of ATP 927P and ATP 1194 PA. These sites which are located within the Windorah trough have a certified approximate total mean 13.76 TCF gas reserves in place and a maiden 3C gas resource of 672 BCF. 

As per the current program the company is done with the well stimulation of Tamarama 2 & Tamarama 3 in October 2018. The objective behind these programs is the conversion of some of the large contingent resources into reserves. Now the Tamarama 2 & 3 are showing encouraging signs and fairly stable amount of gas is flowing through the surface along with the frac fluid. However, the frac fluid has started to taper down but more of it is expected in the times to come. The pressure and flow tests will be conducted when all the frac fluids are extracted from both the concerned wells.

With regard to the production of gas, the firm has inked a “Tie in ad processing” pact with Santos and Beach Energy, hence as per the pact the gas will be transported and processed at the Moomba site. The company will employ “alignment flow technology” that will aid in an increased productivity via an improved alignment between hydraulic fracture and the wellbore. Hence, considering this the company will continue to bring improvement in its extraction techniques with the help of advancing technologies in order to achieve higher production.

As at November 30, 2018, the stock of the group traded at $ 0.083, with no intraday price movement. In the last six months, the stock was down 16.16% but recovered about 10.7% in the past three months. The trend continued with a 3% rise in stock price as noted during the last five trading days, as at November 29, 2018. RLE has a market capitalisation of $ 25 million, and this oil and gas junior player has been trying to make an impact in energy space since its listing on ASX. As at September 2018, the group reported for about $ 5 million cash.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK