Daydream-2 Update

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

HIGHLIGHTS

• Rig formally released to Elixir and mobilizing to site
• Spud date early next week
• Shell currently drilling in neighbouring tenement

Elixir’s drilling contractor SLB (previously known as Schlumberger) has formally advised that the contracted rig SLR 185 has been released by its current operator. The drilling unit and camp are currently mobilizing to the Daydream-2 well site and following acceptance testing the well will be due to spud early next week.

Equipment arriving at the Daydream-2 site

Elixir is encouraged to note that Shell is currently drilling in a tenement to the immediate West of ATP 2044 (https://geoscience.data.qld.gov.au/data/borehole/bh082431)

Elixir’s Managing Director, Mr Neil Young, said: “With the formal release of SLR 185 to Elixir the spud of Daydream-2 is now only a few days away. Two large rigs will then be drilling contemporaneously to further open up the Taroom Trough – a real sign of its potential importance for domestic and international markets.”

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