Elixir Energy (ASX: $EXR) Drilling and Logging Update

Elixir Energy Limited (ASX: $EXR) has provided an update on the drilling progress of the Daydream-2 appraisal well in its 100% owned Grandis Gas Project (ATP 2044) located in the Taroom Trough of the Bowen Basin, Queensland. The intermediate section of the Daydream-2 appraisal well has been drilled to 2,915 metres and is currently being cased & cemented. Additionally, wireline logs have been successfully obtained for Origin Energy under the Information Sharing Agreement, with Origin due to pay $1 million to Elixir under this Agreement.

Executive Commentary on Daydream-2 Progress

The drilling of Daydream-2 continues to go very well and we are on track to meet our estimate of around one month to get to total depth. This week we successfully obtained logs for Origin Energy for its carbon capture and storage project in the region - demonstrating the emerging 'Energy Super Basin' that we consider the Taroom Trough will become.

Summary of Elixir Energy's Update

Elixir Energy Limited (ASX: $EXR) has made significant progress in the drilling of the Daydream-2 appraisal well, reaching the intermediate section at 2,915 metres and successfully obtaining wireline logs for Origin Energy. The company's Managing Director, Mr Neil Young, expressed confidence in the project's timeline and highlighted the emerging potential of the Taroom Trough as an 'Energy Super Basin.' This update signifies Elixir Energy's continued advancement in its Grandis Gas Project and its collaborative efforts with Origin Energy. The successful logging program also reflects the company's commitment to supporting energy initiatives in the region. Elixir Energy's ongoing developments position it for further growth and potential contributions to the energy sector.