Elixir Energy expands gas resource estimates in Queensland’s Taroom Trough
Published: 20:27 03 Nov 2024 EST
Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) managing director Neil Young joins Proactive’s Tylah Tully to discuss increasing the company’s resource in Queensland’s Taroom Trough through a new Prospective Resource estimate of 712 billion cubic feet (2U) in Sub-Block B of its wholly-owned ATP 2077 licence.
This estimate was derived from recent internal technical analysis and signifies further growth in Elixir’s resource portfolio in the region.
Sub-Block B joins Sub-Block A, where a previously announced Contingent Resource of 173 billion cubic feet was booked.
Sub-Block C, positioned outside the Taroom Trough and adjacent to existing gas infrastructure, presents opportunities for conventional oil or gas drilling.
Young highlighted Elixir’s expanding ownership of gas resources, noting that additional Contingent Resource updates for ATP 2044 are anticipated by year-end.
Sub-Block B’s Prospective Resource assessment assumes Basin Centered Gas play continuity, similar to ATP 2044.
Elixir’s technical evaluations encompassed seismic and geological data, including petrophysical and gas analysis.
Elixir is pursuing a farmout in Sub-Block C, seeking partnership support for exploratory drilling.
