Carl Dorsch, the managing director of Adelaide Energy commented that, “The total revenue to Adelaide Energy from gas and condensate sales for the first six months of 2009 has been $ 931,800 and we are very happy with our first half production operations. Actual producing days over the 181 day period were 87 days (48%) and we continue to work hard to increase this in the next half. Following delays in equipment arrivals, we now plan to run surfactant injection strings in three of the existing and producing wells commencing this month. We are confident these strings will increase the number of production days and corresponding revenues”, he said.
“Work is progressing on connecting the Company’s Jacaranda Ridge discovery as well as the Limestone Ridge field in to the Katnook infrastructure. The relevant Pipeline Licence Application was lodged with the South Australian Authorities and includes the option to add extra lines from Haselgrove 2 to Haselgrove 1 and Wynn to Haselgrove. We remain on track to bring new production on line in the first quarter of 2010 and hope to boost our gas and condensate revenues considerably.”
