Elixir Energy (ASX:EXR) Taroom Trough resource base expands

Elixir Energy has strengthened its position in Queensland’s Taroom Trough with the certification of a new 2C Contingent Gas Resource of 189 BCFe in ATP2077 Block-B, bringing its total independently verified 2C contingent resources in the Basin Centred Gas play to approximately 2.8 TCFe.

The resource statement, prepared by independent auditor Sproule ERCE, places further emphasis on the scale potential of the company’s acreage in the Bowen Basin.

Highlights

• 189 BCFe of new 2C Contingent Gas Resources certified in ATP2077 Block-B.

• Total Taroom Trough 2C Contingent Gas Resources now estimated at ~2.8 TCFe.

• Further resource certification expected following seismic acquisition in ATP2057 in early 2026.

ATP2077 Block-B, held 100 per cent by Elixir, lies on the western flank of the Taroom Trough, approximately 10 kilometres from the structural edge of the basin.

This location is comparable to the position of Shell’s main operational area within the play, and benefits from sedimentary sourcing from the west and southwest that is considered supportive of reservoir presence and quality.

The dataset informing the new resource estimate includes petrophysical analysis derived from the digitisation of historical well logs from Kinkabilla-1 (drilled in 1966) and Inglestone-1 (drilled in 1987).

These wells intersected the key Permian-aged Kianga and Back Creek stratigraphic units, enabling renewed evaluation of gas-bearing intervals.

Sproule ERCE applied the same parameters and recovery factors used in previous contingent resource assessments undertaken across Elixir’s Taroom Trough acreage, providing internal consistency in the classification of resources.

The newly certified Block-B resource is also broadly comparable in resource density to the previously recognised Block-A estimate within ATP2077.

With the addition of Block-B, Elixir Energy’s total 2C contingent gas resource across the Taroom Trough portfolio has increased by approximately 8 per cent, and this figure does not yet include any contingent resources from ATP2057, where the Company holds a 50 per cent working interest.

Acquisition of 200 kilometres of new 2D seismic is planned for early 2026 in that joint venture tenement. Resource certification will be considered thereafter, following interpretation of the new seismic dataset.

Across ATP2044, ATP2077 Block-A, ATP2077 Block-B and ATP2056, Elixir now holds multiple contingent resource positions, all of which are presently classified within the “development unclarified” category under recognised petroleum resource management standards.

This classification recognises the need for further appraisal work, field test data and commercial planning before any transition toward reserve status can be contemplated.

Managing Director and Chief Executive Officer Stuart Nicholls highlighted the cumulative significance of the resource growth, observing:

“The addition of this new Contingent Gas Resource is material in its own right, but when added to the Company’s existing independently certified gas resources, it highlights the scale and the impact that the Taroom Trough may have on full commercialisation.”

The next planned step for ATP2077 Block-B is the submission of a Potential Commercial Area application, followed by the design and drilling of the Inglestone-2 well.

This well is intended to advance the resource-to-reserve conversion pathway and potentially serve as a future production well should development proceed.

In broader industry context, the Taroom Trough continues to attract attention as a prospective contributor to east coast domestic gas supply and potential future LNG feedstock.

Continued exploration, data acquisition and phased appraisal across Elixir’s permits will determine the pace and scope of future development options.

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