Elixir Energy Limited ( (AU:EXR) ) has issued an update.
Elixir Energy Limited has announced that Xstate Resources Limited will acquire a 51% interest in the Diona Gas Project, located in the Surat-Bowen Basin, Queensland. This acquisition will allow Xstate to become the operator and fund the drilling of an exploration well, Diona-1, which is expected to commence in the third quarter of 2025. The project targets three stacked reservoir objectives, with a mean prospective resource of 6.4 billion standard cubic feet equivalent. The acquisition positions Xstate for potential re-admission to the ASX, enhancing its market presence.
More about Elixir Energy Limited
Average Trading Volume: 20,000
Technical Sentiment Signal: Strong Buy
Current Market Cap: $17.72M
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