Elixir Energy Limited (ASX: EXR) has provided an update on its operations in the Taroom Trough and greater Surat-Bowen Basin in Queensland. Elixir Energy is an Australian oil and gas exploration and development company, focused on unlocking the potential of unconventional gas resources. The company holds a significant acreage position in Queensland’s Taroom Trough.
The company will resume operatorship of the Diona-1 permit following formalisation of the joint venture. Multi-stage stimulation and production testing are targeted for execution this quarter. According to the announcement, the rig has been released from the Diona-1 well site, and XState Resources Limited has completed its carry obligations. Elixir intends to stimulate and test each of the zones of net gas pay identified in the wireline logs.
Elixir has also agreed to terms for the use of the H&P FlexRig 648 for drilling the Lorelle-3 well, which Shell specifically imported for its Taroom Trough appraisal campaign. Land access and long lead items have been secured, with civil works to commence shortly. The high-impact Lorelle-3 appraisal well is confirmed for drilling in January 2026, and will be drilled and tested less than 10km from the best penetration of the Taroom Trough’s Tinowon ‘Dunk’ Sands in the Dunk-1 well.
Stuart Nicholls, Managing Director & Chief Executive Officer of Elixir Energy, commented on the upcoming flow testing at Diona-1 and the spudding of the Lorelle-3 appraisal well. He highlighted the strategic positioning of the company within Shell’s Taroom development corridor and expressed confidence in demonstrating continuous play potential across the permit boundary. He also stated Elixir is exceptionally well placed to validate and unlock the significant resource potential of this exciting basin.