Production Licence Granted for Blue Energys Sapphire Project.

Blue Energy Limited (ASX: BLU) has announced the granting of Production Licence PL 1034 over its 100% owned Sapphire project to its subsidiary, Eureka Petroleum Pty Ltd, by Queensland’s Department of Natural Resources, Mines, Manufacturing and Regional and Rural Development. The licence, valid for 20 years, permits the drilling of up to 117 wells under the approved development plan. This will enable the development of the project’s independently certified reserves of 91 PJ (2P) and 287 PJ (3P) within Permian-aged coal seams, as assessed by Netherland Sewell and Associates Inc.

Located in Central Queensland’s Moranbah region, PL 1034 benefits from its proximity to existing production licences and gas processing infrastructure, allowing Sapphire gas to be processed at the Moranbah facility without the need for new standalone facilities. Additionally, under the amended Environmental Authority, Blue must conduct regional aquifer studies and water modelling to ensure local bores remain protected during development.

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