Elixir Energy Finds Reservoir Targets With Elevated Mud Gas at Queensland Appraisal Well; Shares Reach Over One-Year High

MT Newswires Live

02/16

Elixir Energy (ASX:EXR) found primary, secondary, and tertiary Permian reservoir targets with elevated mud gas during drilling on the Lorelle-3 appraisal well in ATP2056 in Queensland, according to a Monday filing with the Australian bourse.

The company drilled the 8.5-inch section of the Lorelle-3 pilot hole to a total depth of 3,580 meters below rotary table, the filing said.

Wireline logs will be obtained to verify the thickness, rock quality, and hydrocarbon phase/saturation of the reservoir targets, per the filing.

Shares rose nearly 11% in midday trade Monday and earlier reached their highest since September 2024.

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