Update on Elixir Energy's Daydream-2 program recommencement

Elixir Energy Limited (ASX: $EXR) is pleased to announce the recommencement of the Daydream-2 program in the 100%-owned Grandis Project in Queensland's Taroom Trough. The program, set to commence in approximately two weeks, will involve milling a plug and flowing the stimulated Lorelle Sandstone, followed by the stimulation and flow testing of a further 5 zones.

Executive Commentary

We are naturally very pleased that the Daydream-2 program is scheduled to resume in a couple of weeks and come to its conclusion within a month or so after that. The current multi-operator program in the Taroom Trough gives rise to a degree of complexity on the operational management front - but is otherwise an enormously encouraging sign of the large investments being made into the vast potential of this very well-located area that can cheaply deliver to East Coast and International gas market shortfalls.

Summary of Daydream-2 program recommencement

Elixir Energy (ASX: $EXR) is set to recommence the Daydream-2 program in the Grandis Project, focusing on stimulating and flow testing 5 zones in the Taroom Trough. The program aims to clean up and flow test the Lorelle Sandstone and further zones, with the intent of exceeding a flow rate of 2.5 MMscfd. Elixir's Managing Director, Mr Neil Young, expressed his satisfaction with the program's resumption and highlighted the potential of the Taroom Trough to address gas market shortfalls.