Elixir Energy De-risks Lorelle-3H as Horizontal Drilling Phase Begins

An announcement from Elixir Energy Limited ( (AU:EXR) ) is now available.

Elixir Energy has achieved a key operational milestone at its high-impact Lorelle-3H appraisal well in Queensland, drilling and casing the heel of the horizontal well through the overlying Wallabella coal and into the Tinowon ‘Dunk’ Sandstone. This step materially de-risks the forthcoming horizontal drilling phase aimed at testing the productivity of multiple gas and gas‑condensate charged reservoirs identified in earlier evaluation work.

The company has also incorporated the results of an SLB optimisation study to pinpoint the best zone within 28 metres of net pay in the Dunk Sands for the horizontal section, seeking to maximise stimulation efficiency and reservoir drainage. Elixir now plans to drill more than 1,000 metres of horizontal wellbore with full logging-while-drilling, ahead of multi-stage fracture stimulation and flow testing that will be critical in determining the resource’s commercial potential and the project’s future development path.

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 and developer focused on appraisal of gas and gas‑condensate reservoirs in Queensland’s Taroom Trough within the Bowen Basin. The company operates the Lorelle-3 appraisal well in ATP2056 in joint venture with Santos (STO), targeting Permian sandstone formations for potential commercial gas production.

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