Elixir Energy's quarterly report highlights

Elixir Energy (ASX:EXR) has issued its quarterly activities report for the period ending 30 September 2024. The report highlights significant achievements, including the successful testing of Daydream-2 well and the award of ATP 2077, which adds substantial contingent resources. Elixir's financial position remains robust with $10 million at quarter's end.

Elixir Energy's strategic advancements and outlook

Elixir Energy's quarterly report showcases major progress in its exploration and resource capacity. Key achievements include the successful stimulation and testing of the Daydream-2 well in Queensland and the award of ATP 2077, adding 175 billion cubic feet of contingent resources. The strategic partnership with the Australian Gas Infrastructure Group aims to develop infrastructure for gas transport. Financially, the company maintains a strong position with $10 million, supported by a research and development tax credit. In Mongolia, advancements continue in the Nomgon IX project, with a focus on sustainable production. Elixir remains committed to environmental, social, and governance initiatives, engaging with local communities in Queensland and Mongolia. Looking forward, the company anticipates continued development efforts in both regions, supported by a favorable regulatory environment and investor confidence.

Executive insights on Elixir Energy's progress

The successful stimulation and flow testing of the Daydream-2 well, with gas flowing from multiple zones including deep coals for the first time, is a significant milestone. The formal award of ATP 2077 further strengthens our resource base. Collaborations with stakeholders and the Australian Gas Infrastructure Group will enhance our ability to transport gas to markets.