Skip to content
Finance Investment, Oil Mining Resources

Queensland Pacific Metals (ASX:QPM) – QPM Energy Moranbah Project Operating Update

Queensland Pacific Metals Ltd (ASX:QPM) 2 mins read

Queensland Pacific Metals Ltd (ASX:QPM), a leader in the metals and mining sector, is proud to announce a series of significant achievements and future plans for its wholly owned subsidiary, QPM Energy (“QPME”), in relation to the Moranbah Project.

Key Highlights:

  • Exceptional Safety Record: QPME has achieved a remarkable milestone in its operations with no lost time injuries, underscoring its commitment to safety and operational excellence.
  • Increased Production Capacity: The company has successfully increased its production from 22.9TJ per day to approximately 27TJ per day, marking a significant step in its growth trajectory.
  • Expansion at Townsville Power Station: The growing electricity generation at Townsville Power Station (“TPS”) is a testament to QPME's dedication to enhancing its energy production capabilities.
  • Strategic Infrastructure Developments: The construction of new tie-in points for directly connecting pre-mining gas drainage wells at the Grosvenor and Moranbah North mines is set to bolster the company’s operational efficiency.
  • Upcoming Drilling Program: An 8 well drilling program, fully funded under the Dyno Nobel Deferred Funding Facility, is scheduled to commence around April 2024, highlighting QPME's forward-looking approach in resource development.
  • Expanding Market Reach: QPME is actively developing further third-party gas sale opportunities with industrial users in the Townsville region, aiming to broaden its market footprint and customer base.

Operational Excellence and Future Growth:

In the three months since assuming operatorship of the Moranbah Project, QPME has focused on maintaining safe and stable operations while implementing a series of production optimization and improvement initiatives. The transition of operations has been highly successful, thanks in part to the efforts of contract operator GR Production Services in establishing a robust management and operating team.

A key factor in this success has been the implementation of good gas field operating practices, which have not only ensured zero lost time injuries but have also significantly improved field performance.

Looking Ahead:

As QPM and QPME continue to build on these strong foundations, the focus remains on sustainable growth, operational excellence, and the exploration of new opportunities in the energy sector. The company is well-positioned to capitalize on its recent achievements and looks forward to a future of continued success and innovation.

QPME CEO David Wrench commented, “ We are delighted with the way our acquisition of the Moranbah Project and transiton to operatorship has progressed over the last 3 months. The rapid turnaround in production we have seen has validated our operating strategy and has identified further upside as we build a profitable energy business.”


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Finance Investment, Oil Mining Resources
  • 23/02/2024
  • 12:11
Critical Minerals Group (ASX:CMG)

Critical Minerals Group (ASX:CMG) Welcomes Groundbreaking Vanadium Battery Manufacturing Agreement in Townsville

Sydney, Australia 23 February 2024 - ASX listed vanadium developer, Critical Minerals Group (ASX:CMG), is thrilled to announce its enthusiastic support for the recent collaboration agreement that marks a significant milestone in the establishment of a vanadium flow battery manufacturing supply chain in Townsville, North Queensland. In a joint statement, Queensland Premier, The Honourable Steven Miles, and the Queensland Minister for Resources and Critical Minerals, The Honourable Scott Stewart, announced a non-binding collaboration agreement between Vecco Group, Sumitomo Electric, and Idemitsu. This group aims to manufacture, market, sell, and deliver batteries from North Queensland. Based on publicly announced projects, globally…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 23/02/2024
  • 11:08
Conrad Asia Energy Ltd (ASX:CRD)

Conrad Asia Energy Ltd (ASX:CRD) – Ministerial Approval of Mako Gas Price & Allocation

Conrad Asia Energy Ltd (ASX:CRD), a leading natural gas exploration and development company focused on Asia, is thrilled to announce a pivotal advancement in the Mako field project within the Duyung Production Sharing Contract (PSC). The Indonesian Minister of Energy and Natural Resources has officially approved the gas price and volume allocation for the Mako project, marking a significant milestone in the project's development and the country's energy sector. This approval, conveyed through an Allocation Letter from the Indonesian Minister of Mining and Natural Resources, sets the stage for Conrad to finalize fully termed Gas Sales Agreements (GSA). It signifies…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 23/02/2024
  • 10:47
American Rare Earths Limited (ASX: ARR)

American Rare Earths Limited (ASX: ARR) – A$13.5m Placement to advance Halleck Creek Project

American Rare Earths Limited (ASX: ARR | ADRs – OTCQX: AMRRY | Common Shares – OTCQB: ARRNF) (“ARR” or the “Company”), a leader in the exploration and development of critical minerals essential for the clean energy transition, is thrilled to announce the successful completion of a placement that raised A$13.5 million through the issuance of 45 million new fully paid ordinary shares at an issue price of A$0.30 per share (“Placement”). This significant capital injection was met with strong enthusiasm from both existing shareholders and new institutional investors, underscoring the market's confidence in ARR's strategic direction and its commitment to…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.