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Elixir Energy Limited ( (AU:EXR) ) has shared an announcement.
Elixir Energy has signed an Early Works Agreement with APA Group to assess the most cost-effective and rapid pipeline route to transport gas from a planned Lorelle pilot project in the Taroom Trough to Queensland’s Wallumbilla Gas Hub. The study will compare a shorter connection to the Roma to Brisbane Pipeline with a direct line to Wallumbilla, generating capital and scheduling estimates within about 12 weeks to support pre-FEED work and potential reserves booking after flow testing.
Early route definition is expected to accelerate market access for both gas and significant associated condensate or light oil volumes, which Elixir plans to monetise through Queensland’s refining sector. The Lorelle-3 appraisal well has already delivered better-than-expected petrophysical results and a horizontal sidetrack for upcoming fracture stimulation and production tests, positioning Elixir to demonstrate commercial flow rates and convert resources into maiden reserves if results are successful.
The most recent analyst rating on (AU:EXR) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on Elixir Energy Limited stock, see the AU:EXR Stock Forecast page.
More about Elixir Energy Limited
Elixir Energy Limited is an Australian oil and gas explorer focused on unconventional gas resources, including basin-centred gas plays in Queensland’s Taroom Trough within the Bowen Basin. The company targets both gas and associated condensate or light oil, aiming to supply domestic markets and potentially link into key gas hubs and refining markets across Queensland.
Average Trading Volume: 6,958,741
Technical Sentiment Signal: Buy
Current Market Cap: A$222.8M
See more data about EXR stock on TipRanks’ Stock Analysis page.