Elixir Energy (ASX:EXR) commences drilling at Diona-1 well
Elixir Energy (ASX: EXR) has commenced drilling at the Diona-1 conventional gas and oil exploration well in Queensland’s Surat-Bowen Basin.
Elixir Energy (ASX: EXR) has commenced drilling at the Diona-1 conventional gas and oil exploration well in Queensland’s Surat-Bowen Basin.
Elixir Energy is laying the groundwork to become Queensland’s next gas producer with a fast-follower strategy and the largest acreage position in the Taroom Trough.
Elixir Energy passes the baton to a proven growth leader as it gears up to commercialise one of the East Coast’s largest undeveloped gas resources.
Elixir Energy has secured a cost-free pathway to near-term gas production by farming out its Diona sub-block to Xstate Resources, who will fully fund the upcoming exploration well.
Elixir’s leadership recognises the importance of this milestone, with Managing Director Neil Young highlighting it as a groundbreaking achievement for the company and the broader play.
Elixir Energy’s Daydream-2 well has successfully flowed gas from deep coal seams in Queensland’s Taroom Trough, marking the first such achievement in Australia and a pivotal step towards unlocking significant gas resources.
Elixir is named tenderer for adjacent licenses as state and federal governments continue a push for new domestic resources.
A large resource upgrade is expected be shortly followed as Elixir gets its appraisal program back on track for a novel multi-TCF gas play.
Unconventional Grandis gas is believed to be the deepest unstimulated Australian onshore flow ever recorded east of the Perth Basin.
Targeted coal zones totalling 65 metres stand as a key target to stimulate, flow, and add hefty net pay and production potential to Daydream-2.