Elixir Energy Limited (ASX:EXR) advances Taroom Trough appraisal through seismic data agreement

Elixir Energy has taken a measured step forward in its Taroom Trough strategy, executing a seismic data sharing and ingress agreement with QGC Pty Limited that brings forward critical subsurface information ahead of the planned Daydream-3 appraisal well.

Announced on 17 December 2025, the agreement reflects the practical realities of operating in a mature onshore gas province, where collaboration and data access can materially influence technical confidence and capital efficiency.

Highlights

• Data sharing and ingress agreement executed with QGC over ATP2077 Block-A

• 3D seismic to be acquired in 2026 across the North and West of Block-A

• Processed seismic data to extend up to 2 km into ATP645, QGC’s adjoining permit

• Daydream-3 appraisal well located within an area containing 184 BCFe of 2C Contingent Gas Resources

The agreement provides Elixir with access to processed 3D seismic data acquired by QGC across Elixir’s wholly owned ATP2077 Block-A, as well as a reciprocal area extending from the mutual boundary with ATP645 into QGC’s permit.

In exchange, Elixir will provide information and logs from the future Daydream-3 well, an arrangement that underscores the value placed on geophysical clarity in the Taroom Trough, particularly along permit boundaries where improved subsurface understanding can benefit both parties.

Elixir holds the largest acreage position in the Taroom Trough, a sub basin within Queensland’s Bowen Basin that the company describes as geologically analogous to the Montney Formation in Canada.

The region sits within an established onshore gas setting, supported by proximity to the Wallumbillia Gas Hub, multiple gas pipelines, nearby 25 mtpa of LNG export infrastructure and a network of refineries.

This existing infrastructure base has long been a defining characteristic of the Taroom Trough, shaping its relevance within eastern Australia’s gas landscape.

The immediate technical significance of the agreement lies in its application to the Daydream-3 appraisal well, which is planned for the north west of ATP2077 Block-A.

The company has disclosed that this area contains 184 BCFe of 2C Contingent Gas Resources, forming part of Elixir Energy’s broader ~2.8 TCF of independently certified 2C Contingent Gas Resources across the Taroom Trough.

By securing access to 3D seismic ahead of drilling, Elixir is seeking to improve subsurface definition around the proposed well location, a step that aligns with industry norms for reducing geological uncertainty in basin centred gas plays.

Managing Director and Chief Executive Officer Stuart Nicholls said:

“The acquisition and sharing of this data set over Elixir’s Block-A on the western flank of the Taroom Trough by QGC will assist in de-risking the future Daydream-3 appraisal well location in the north-west of the permit which contains 184 BCFe of 2C Contingent Gas Resources.”

From a corporate perspective, the arrangement also reflects Elixir’s position alongside established operators active in the basin centred gas play.

QGC’s primary area of investment borders Elixir’s acreage, and the reciprocal nature of the data exchange illustrates how adjacent permit holders can align interests without altering ownership or operatorship structures.

Looking ahead, the agreement situates Elixir for the planned 2026 acquisition of 3D seismic across key portions of Block-A, providing a clearer technical foundation for appraisal activities within the Taroom Trough.

In the context of Australia’s mature onshore gas sector, such steps tend to be incremental rather than transformative, yet they remain central to advancing contingent resources toward a more defined development pathway, subject to future technical and commercial decisions.

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