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The latest update is out from Elixir Energy Limited ( (AU:EXR) ).
Elixir Energy has completed its Teelba 2D seismic survey at ATP2057 in Queensland’s Taroom Trough on schedule and on budget, acquiring 225 km of modern high-resolution data over some of its most prospective western acreage. The survey area lies on trend with the Permian reservoirs appraised in the Lorelle-3/3H well and adjacent to Shell’s primary investment area, underscoring the strategic positioning of the permit.
The new seismic volumes, now being processed by Total Seismic, will underpin work with consultant Sproule ERCE to define a potential new 2C contingent gas-condensate resource within ATP2057. Completion of this seismic program also satisfies key work and permit commitments under Elixir’s 50% farm-in with Santos, marking a critical Phase 1 milestone in the company’s broader strategic plan for the Taroom Trough.
The most recent analyst rating on (AU:EXR) stock is a Hold with a A$0.09 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 the Taroom Trough in Queensland’s Bowen Basin. The company is the largest acreage holder in this basin-centred gas play, targeting multi-TCF gas and significant condensate resources near key gas pipelines, the Wallumbilla Gas Hub, LNG export facilities and established onshore gas infrastructure.
YTD Price Performance: 23.08%
Average Trading Volume: 6,287,133
Technical Sentiment Signal: Hold
Current Market Cap: A$178.3M
For detailed information about EXR stock, go to TipRanks’ Stock Analysis page.