ATP 2077 Awarded - Initial Contingent Resource Booking

HIGHLIGHTS

• ATP 2077 awarded by Queensland Government
• ATP is prospective for both deep and shallow gas
• Independently certified 2C resources of 173 billion cubic feet

As advised to the market on 20 June 2024, Elixir was appointed as Preferred Tenderer for a new exploration area (PLR2023-1-7) in Queensland located adjacent to its existing ATP 2044 licence (see map below). This tender block has now been formally awarded to Elixir as ATP 2077.

Location map of ATP 2077

The licence has an initial term of 6 years, has been awarded to Elixir on a 100% basis and does not contain any Government domestic market restrictions. The licence has 3 geographically separate sub-blocks as follows:

• Sub-block A – this is located immediately proximate to ATP 2044 and contains similar Taroom Trough geology. The recent work undertaken on Project Grandis has underpinned an independently certified contingent resource booking in this sub-block - summarized in this announcement.
• Sub-block B – this also overlies the Taroom Trough. However, given the distance from Project Grandis it has been considered premature to book contingent resources on this area at this point in time. Elixir will assess the prospective resources for this block in due course.
• Sub-block C – this area lies outside the Taroom Trough and is adjacent to existing gas infrastructure such as the currently largely dormant Silver Springs gas storage asset. Work undertaken by Elixir’s technical team to date has identified some possible shallow drilling targets in this Sub-block.

Based on the work undertaken by Elixir in ATP 2044, the Company sought an independently certified contingent resource estimate (from international firm ERC Equipoise Pty Ltd – “ERCE”) for ATP 2077 Sub-block A – see table below. The subclass of Contingent Resources (as defined under the PRMS) is “Development Unclarified”, as of 16th August 2024.

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