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An update from Elixir Energy Limited ( (AU:EXR) ) is now available.
Elixir Energy Limited has announced a significant capital raise of $16.6 million, primarily supported by Omega Oil and Gas Limited’s investment of $14.6 million for a 19.43% stake. This funding will advance Elixir’s strategic plan into Phase 2, facilitating the development of its Taroom Trough assets through initiatives like the Lorelle-3 appraisal well campaign. The investment underscores the potential of Elixir’s assets to address the east coast energy market’s needs and supports the company’s efforts to convert contingent resources into reserves.
More about Elixir Energy Limited
Elixir Energy Limited is an energy company focused on exploring and developing gas resources, particularly in the Taroom Trough region of Queensland, Australia. The company is engaged in strategic initiatives to enhance its resource base and secure its position in the energy market, with a focus on transitioning contingent resources into reserves.
Average Trading Volume: 3,300,444
Technical Sentiment Signal: Sell
Current Market Cap: A$59.2M
See more data about EXR stock on TipRanks’ Stock Analysis page.