Blue Energy Limited (AU:BLU) has released an update.
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Blue Energy Limited reports significant progress in its Queensland and Northern Territory projects, with the Sapphire 5 and 6 wells showing an increasing gas flow rate of 0.150 TJ/day. The company has identified vast potential gas reserves in the Northern Territory through 2D seismic data, highlighting promising new areas for exploration. Despite facing an appeal regarding an Environmental Authority, Blue Energy remains committed to advancing its exploration and production activities.
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