Blue Energy Limited · ASX:BLU

Blue Energy — PESA Symposium 2022

16 slides from Blue Energy's conference presentation, Sep 9, 2022

  1. Slide 1: 2022 Sapphire Pilot Drilling Programme, North Bowen Basin

    For personal use only 2022 SAPPHIRE PILOT DRILLING PROGRAMME NORTH BOWEN BASIN QUEENSLAND PESA SYMPOSIUM 9 September 2022

  2. Slide 2: Legals: Disclaimer

    Legals For personal use only Disclaimer Not an offer or invitation This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. Restrictions This presentation has been prepared for publication in Australia and may not be released

  3. Slide 3: Blue has assets in the key new gas supply basins

    For personal use only BLUE HAS ASSETS IN THE 3 KEY NEW GAS SUPPLY BASINS Bowen Basin North and South Beetaloo Basin Galilee Basin 3

  4. Slide 4: Corporate reserves and resources

    For personal use only COPRPORATE RESERVES AND RESOURCES 1P Permit Block Date Method Certifier 1C (PJ) 2P (PJ) 2C (PJ) 3P (PJ) 3C (PJ) (PJ) ATP854P Whole Permit 22/01/2022 SPE/PRMS NSAI 0 90 0 194 0 398 ATP813P Whole Permit 29/10/2014 SPE/PRMS NSAI 0 0 0 61 0 830 ATP814P Sapphire 14/07/2022 SPE/PRMS

  5. Slide 5: Blue's Bowen gas – long term, reliable supply

    For personal use only BLUE’S BOWEN GAS – LONG TERM, RELIABLE SUPPLY PL 1045 gas to Townsville • North Bowen has ~15,000 PJ gas resource – NSAI • 30 years of east coast domestic gas demand • Blue has ~3,000 PJ of the gas resource – NSAI • 8 years of east coast domestic gas demand • Federal and State

  6. Slide 6: Blue's Sapphire pilot drilling

    For personal use only BLUE’S SAPPHIRE PILOT DRILLING Sapphire 5 and 6 pilots will target the Permian Coal measures: • Rangal Coal Measures • Fort Cooper Coal Measures • Moranbah Coal Measures Sapphire Block Pilot wells located on seismic line BE08-05 close Moranbah Gas Project to the intersection wi

  7. Slide 7: Pilot design and well locations

    For personal use only PILOT DESIGN AND WELL LOCATIONS The Pilot configuration is a modified chevron intercept design • Approx 75m separation between the two vertical wells. • Two sets 4 lateral wells intercepting one of the vertical wells. • Gas will be produced out of the laterals, with water out o

  8. Slide 8: Well location topography

    WELL LOCATION TOPOGRAPHY (LOOKING SOUTH TOWARD ISAAC PLAINS MINE) For personal use only Lateral surface locations Vertical well locations 8

  9. Slide 9: Sapphire pilot pre-drill target seams

    For personal use only SAPPHIRE PILOT PRE-DRILL TARGET SEAMS Pre-drill Targets: L4 - Lower Rangal (Vermont Seams) • Depth - 320m • 21m thick Rangal (~5m net) • Gas Con (~2.1-9.2m3/t DAF) Yarabee Tuff L3 - Fort Cooper (Middle Main Seam) • Depth - 540m Fort Cooper (~5m net) • 11m thick • Gas Con (~4.2-

  10. Slide 10: Updating target selection post verticals – directional re-work on the fly

    UPDATING TARGET SELECTION ….POST VERTICALS – DIRECTIONAL RE-WORK ON THE FLY Caliper/Gamma Resistivity Density/Neutron For personal use only Vermont Seam – Ranaal CM Original (L4 Target) Target (Fairhill) Girrah Seams – Fort Cooper CM (L3 Target) Mid Main Seam – Fort Cooper CM (L2 Target) Fairhill Se

  11. Slide 11: Seismic correlation and lateral trajectories

    SEISMIC CORRELATION AND LATERAL TRAJECTORIES LATERAL WELLS VERTIC AL WELLS For personal use only

  12. Slide 12: First lateral intersection

    For personal use only FIRST LATERAL INTERSECTION Lateral wells drilled by Sperry using gamma imaging tool. First Lateral well (5L1) corelated back to the vertical well (5V) in real time by Blue Energy and Sperry Geosteering teams Sapphire 5L1 – 35m high to prognosis in the lateral although on seismi

  13. Slide 13: Real time seismic velocity re-work for lateral trajectory update

    REAL TIME SEISMIC VELOCITY RE-WORK FOR LATERAL TRAJECTORY UPDATE FROM NEW LATERAL AND VERTICAL WELLS For personal use only • Intersection of target seams defined in 5L1 (deepest) lateral well build section showed need for new depth prognosis/mapping in order to intercept target seams at 5V (makes no

  14. Slide 14: Lateral update

    For personal use only Lateral Update Successfully geo steering in the coal. Use of near bit gamma has enabled almost 100% in coal for the first lateral

  15. Slide 15: Conclusion

    For personal use only Conclusion Positives • Use of existing seismic and well data significantly de-risked the well locations • Batch drilling has been very successful, allow build sections and landing points to be optimised • In seam steering has been very successful with ~100% in coal Learnings •

  16. Slide 16: For personal use only

    For personal use only

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