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Blue Energy Limited (ASX:BLU)

ALERT: Price-sensitive ASX Announcement for BLU
Current share price for BLU : $0.004 -0.004 (-50%)+
Announcement
Release
9 Sep 2025 9:41AM
Price at Release
$0.007
Full Release
download
Summary
Blue Energy Limited announced that its wholly owned subsidiary, Eureka Petroleum Pty Ltd, has been granted the Production Licence PL 1034 for the Sapphire project by the Department of Natural Resources, Mines, Manufacturing and Regional and Rural Development. The licence, awarded for a 20-year term, allows for the drilling of up to 117 wells to develop 91 PJ of 2P reserves and 287 PJ of 3P reserves in the coal seams of the Permian sequence. The Sapphire project, located near existing production licences and gas processing facilities in Moranbah, Central Queensland, will have its gas processed at the Moranbah facility, eliminating the need for standalone processing facilities. Environmental studies are required to ensure no adverse impact on local water resources.
Key Points
  • PL 1034 Production Licence granted for 20 years.
  • Up to 117 wells to be drilled for Sapphire project.
  • 91 PJ of 2P and 287 PJ of 3P reserves to be developed.
  • Gas to be processed at Moranbah facility.
  • Environmental studies required to protect water resources.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.