Elixir Energy

Elixir Adds New Taroom Acreage

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to announce that it has been appointed as Preferred Tenderer in relation to a new exploration area in Queensland: PLR2023-1-7 (see map below). The area lies immediately adjacent to the Company’s Project Grandis in the Taroom Trough.


HIGHLIGHTS

  • Elixir has been appointed by the Queensland Government as preferred tenderer for PLR2023-1-7
  • The licence area is adjacent to Elixir’s Grandis Project and is prospective for both deep and shallow gas

Location map of PLR2023-1-7

PLR2023-1-7 covers 526 square kilometres and although just one licence is divided into 3 separate geographical areas. The North Eastern areas are located in the Taroom Trough and are prospective for the same deep gas plays as encountered in Project Grandis. These new areas cover 152 square kilometres and represent a 14% increase of Elixir’s acreage within the Taroom Trough, which to date has a 2C contingent resource booking of 1,297 Bcf (per ASX announcement of 29 May 2024).

The larger South-Western area, which covers 374 square kilometres is prospective for both shallow and deep gas targets.

Elixir will now proceed to obtain an Environmental Authority (EA) and complete any required native title process before being granted the final Authority to Prospect (ATP). This licence will not be subject to any domestic gas reservation. Elixir will own a 100% working interest in the ATP and will be the Operator.

Technical studies have already begun on all of the areas of the licence to address issues such as the potential addition of contingent and prospective resources, drill target(s) and potential partners once the licence is formally granted.

Elixir’s Managing Director, Mr Neil Young, said: “Naturally we are pleased to be recognized by the Queensland Government as the preferred tenderer for a new licence area which is highly complementary to our existing Grandis Gas Project position. That recognition in part at least acknowledges the good work undertaken by our team since we have entered Queensland two years ago.”


Click here for the full ASX Release

This article includes content from Elixir Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

EXR:AU
The Conversation (0)
US flag and declining stock graph overlay.

Oil Prices Rise, Then Tumble as Iran Retaliates Against US

Oil prices plummeted over 6 percent on Monday (June 23) as Iran launched a missile strike on a US military base in Qatar in retaliation for American airstrikes on Iranian nuclear facilities.

Reuters reported that Brent crude futures dropped US$4.90, or 6.3 percent, to settle at US$72.19 per barrel, while US West Texas Intermediate (WTI) crude slid US$4.60, or 6.2 percent, to US$69.23 per barrel.

The sharp declines followed initial spikes of nearly 5 percent on Sunday (June 22) evening, after US President Donald Trump confirmed that American forces had “obliterated” key Iranian nuclear sites in a joint response with Israel.

Keep reading...Show less
Oil barrels with arrow, world map and financial charts in the background.

Oil and Gas Price Update: Q2 2025 in Review

In the face of geopolitical strife oil and gas prices were able to register moderate gains through the first half of 2025, although the second half of the year is likely to be punctuated with continued unrest and supply chain fragility.

Oil benchmarks ended the first quarter slightly off their 2025 start positions, with Brent crude coming in at US$76.08 per barrel and West Texas Intermediate (WT) hitting US$72.87 per barrel before headwinds began sending values lower.

In early May, both benchmarks dropped sharply, Brent slipping nearly 6 percent to US$60.48 while WTI fell to US$57.42, a near two year low. The decline was driven by a combination of weak demand and rising supply as OPEC+ signaled plans to boost production in July, adding to existing oversupply concerns after a surge in global inventories.

Keep reading...Show less
Coelacanth Energy (TSXV:CEI)

Coelacanth Energy


Keep reading...Show less
Wind turbines in a field with overlaid data graphs against a sunset sky.

IEA: World Energy Investment to Hit US$3.3 Trillion in 2025

Despite geopolitical and macroeconomic headwinds, global energy investment is expected to rise to an unprecedented US$3.3 trillion in 2025, according to the International Energy Agency (IEA).

The bulk of that capital — US$2.2 trillion — will go to clean energy technologies, including renewables, grids, storage, nuclear and efficiency initiatives, signaling the accelerating dominance of the so-called “Age of Electricity.”

This marks a 2 percent real-term increase from 2024, and, more significantly, it reflects a decisive structural shift.

Keep reading...Show less

Latest Press Releases

Related News

×