Overview of Elixir Energy's recent achievement

Elixir Energy Limited (ASX: $EXR) has announced highly encouraging initial flow test results in the Lorelle Sandstone at its 100% owned Grandis project in Queensland. The company achieved a stabilised flow rate of 1.3 million cubic feet per day without stimulation, marking a significant milestone in its operations.

Executive commentary on the achievement

Elixir's Managing Director, Mr Neil Young, expressed his satisfaction with the results, stating, 'this is a fantastic result - achieving a material stabilized flow rate means that the gas kick we got late last year was not just an isolated freak of nature. The Lorelle is now expected to be a major contributor to the final results of Daydream-2 - and could really boost the economics of the vast unconventional resources of the Taroom Trough.' Elixir's Chairman, Richard Cottee, also highlighted the potential impact of this discovery, comparing it to the significance of CSG at the turn of the century in heralding a new gas play in Australia.

Summary of Elixir Energy's achievement and future plans

Elixir Energy's successful flow test in the Lorelle Sandstone at the Grandis project signifies a significant breakthrough, with the company anticipating a material increase in flow rate post-stimulation. The discovery is expected to contribute substantially to the final results of Daydream-2, potentially boosting the economics of the unconventional resources in the Taroom Trough. With the stimulation phase set to commence soon, followed by extensive flow testing, Elixir Energy remains optimistic about the prospects of its Queensland gas play amidst a looming domestic gas shortage.