Daydream-2 Progress Report

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an update on the drilling of the Daydream-2 appraisal well in its 100% owned Grandis Gas Project (ATP 2044) located in the Taroom Trough of the Bowen Basin, Queensland.

HIGHLIGHTS

• Intermediate section of well drilled to 2,915 metres
• Logs successfully acquired for Origin Energy under the Information Sharing Agreement

The intermediate section of the Daydream-2 appraisal well has been drilled to 2,915 metres and is currently being cased & cemented.

In recent days wireline logs have been successfully obtained for Origin Energy (at its sole cost) under the recently announced Information Sharing Agreement. In addition to the incremental costs of this logging program, Origin is now due to pay $1 million to Elixir under this Agreement.

Elixir’s Managing Director, Mr Neil Young, said: “The drilling of Daydream-2 continues to go very well and we are on track to meet our estimate of around one month to get to total depth. This week we successfully obtained logs for Origin Energy for its carbon capture and storage project in the region – demonstrating the emerging “Energy Super Basin” that we consider the Taroom Trough will become.”

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