Elixir Energy (ASX:EXR) received independent certification of a contingent resource within the deep dry coals at its Grandis gas project in Queensland, increasing project 2C recoverable gas resources by 17% to 1,715 billion cubic feet (BCF), according to a Wednesday Australian bourse filing.
The certification by ERCE Australia estimates a maiden resource booking of 245 BCF from the deep dry coals at the project.
The total 2C gas in place increased 120% to 58,137 BCF, given the first-time recognition of contingent resources in the deep coals.
The firm noted that there is no certainty that it will be economically viable to produce any portion of the contingent resources.
Elixir Energy's shares rose almost 2% in recent trading Wednesday.
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