Blue Energy (ASX:BLU) said the Sapphire 6 pilot wells in Queensland returned to production after surface equipment maintenance and replacement, according to a Thursday ASX filing.
A dewatering process started with a measured reduction of hydrostatic pressure on the producing coal seams so as to protect the reservoir because the Sapphire 6V well has been offline.
The company's shares surged 25% in recent Thursday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.