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An announcement from Blue Energy Limited ( (AU:BLU) ) is now available.
Blue Energy Limited has been awarded Potential Commercial Areas (PCA) 336 and 337 by the Queensland Government, which contain significant contingent gas resources. The company is working to resolve mechanical issues in its Sapphire 5 and 6 pilot wells to resume gas production testing, and plans to lodge a Research and Development tax rebate for its operational expenditure on the Sapphire Pilot project.
More about Blue Energy Limited
Blue Energy Limited operates in the natural gas and oil industry, focusing on exploration and development projects in Queensland and the Northern Territory, Australia. The company is involved in the extraction and production of natural gas, with a significant emphasis on developing its gas resources in the Bowen Basin.
Technical Sentiment Signal: Sell
Current Market Cap: A$14.81M
Find detailed analytics on BLU stock on TipRanks’ Stock Analysis page.