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The latest update is out from Elixir Energy Limited ( (AU:EXR) ).
Elixir Energy has secured independent certification for 662 billion cubic feet equivalent of new net 2C contingent gas resources, including condensate, in permit ATP2057 on the western flank of Queensland’s Taroom Trough. The new booking follows fast-tracked processing of recent 2D seismic data that identified Permian reservoirs consistent with successful nearby wells.
With this addition, Elixir’s total independently certified 2C contingent gas resources in the Taroom Trough basin-centred gas play have risen 24% to about 3.5 trillion cubic feet equivalent. More than half of ATP2057 remains uncertified, highlighting further upside potential from future drilling and reinforcing the scale and strategic value of the company’s Taroom Trough portfolio for stakeholders.
More about Elixir Energy Limited
Elixir Energy Limited is an Australian oil and gas explorer and developer focused on unconventional gas resources. The company holds a significant acreage position in Queensland’s Taroom Trough within the Bowen Basin, targeting basin-centred gas plays and associated condensate to build a substantial gas resource base.
Average Trading Volume: 8,463,012
Technical Sentiment Signal: Buy
Current Market Cap: A$252.2M
Learn more about EXR stock on TipRanks’ Stock Analysis page.