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Elixir Energy Limited ( (AU:EXR) ) has issued an update.
Elixir Energy Limited has reported a successful quarter marked by strategic advancements in the Taroom Trough, including a farm-in agreement with Santos to earn a 50% working interest in key permits, and a capital raising of $7 million. The company has also farmed out part of ATP 2077 to fund exploration drilling and retained full ownership of remaining blocks, enhancing its position as a major player in the region. These developments, alongside the appointment of new CEO Stuart Nicholls, are expected to bolster Elixir’s growth and potential in the energy market, with significant implications for future energy supply in East Coast Australia.
More about Elixir Energy Limited
Elixir Energy Limited operates in the energy sector, focusing on exploration and development of gas resources. The company is primarily engaged in activities within the Taroom Trough in Queensland, Australia, where it aims to leverage its significant acreage position to tap into the East Coast energy market. Elixir’s strategic location near the Wallumbilla gas hub and Gladstone LNG facilities positions it well for both domestic and international gas markets.
Average Trading Volume: 20,000
Technical Sentiment Signal: Strong Buy
Current Market Cap: $23.34M
For a thorough assessment of EXR stock, go to TipRanks’ Stock Analysis page.