Lockyer-5 gas development well update

Mineral Resources Limited (ASX: $MIN) has issued an update on the Lockyer-5 conventional gas development well (L-5) in the onshore Perth Basin. The sidetrack drilling has successfully reached a total depth of 4,574m measured depth relative to the rotary table (MDRT) and intersected the Kingia Sandstone objective at 4,424m MDRT. Petrophysical analysis of Lockyer-5 Sidetrack-1 (ST-1) wireline logs has revealed exceptional results, with 27m of net gas pay and an average porosity of 18%.

Executive Commentary

Preparations are now underway for a well test in early April 2024 to evaluate gas flow rates and composition. The Lockyer-5 well is a significant development in our ongoing Lockyer Conventional Gas Project, and the exceptional results from Sidetrack-1 are very promising. We are excited about the potential of this well and look forward to further defining and unlocking the considerable gas potential in the region.

Summary

Mineral Resources Limited (ASX: $MIN) has provided an update on the Lockyer-5 conventional gas development well, reporting exceptional results from the Sidetrack-1 drilling. The company is preparing for a well test in early April 2024 to evaluate gas flow rates and composition. The Lockyer-5 well is part of the ongoing Lockyer Conventional Gas Project, and the company is optimistic about the potential of this well and the considerable gas potential in the region. Additionally, the drilling rig has been relocated to North Erregulla-2 (NE-2) for further appraisal, indicating the company's continued focus on expanding its operations and exploring new opportunities in the energy sector.