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Elixir Energy Limited ( (AU:EXR) ) has provided an update.
Elixir Energy Limited has secured a 15-year Potential Commercial Area (PCA356) over 100% of permit ATP2044 in Queensland’s Taroom Trough, following the tenement’s renewal. The 1,058km² PCA356 area hosts 1,362 BCFe of independently certified 2C contingent gas resources confirmed by the 2024 Daydream-2 exploration well, locking in a substantial resource base without partial relinquishment. Management described the award as a key strategic objective under Phase 1 of Elixir’s 2025 strategic plan, and noted that after further drilling and seismic work the company expects all of its roughly 500,000 net acres in the Taroom Trough to be eligible for similar long-term retention, underpinning joint de-risking and future commercialisation with partners including Shell, Santos and Omega.
More about Elixir Energy Limited
Elixir Energy Limited is an Australian gas exploration and development company and the largest acreage holder in the Taroom Trough within Queensland’s Bowen Basin. The company focuses on appraising its independently certified 2C contingent gas resources of about 2.8 TCF in a basin-centred gas play that sits near the Wallumbilla Gas Hub, major gas pipelines, LNG export infrastructure, refineries and within a mature onshore gas industry, positioning it to target both domestic and export markets alongside neighbouring majors such as Shell.
Average Trading Volume: 3,579,389
Technical Sentiment Signal: Buy
Current Market Cap: A$112.5M
For an in-depth examination of EXR stock, go to TipRanks’ Overview page.