Mobilization of Drilling Rig for Elixir Energy's Well in Queensland's Taroom Trough on Track, Euroz Hartleys Says

MT Newswires Live

Jan 08

The mobilisation of a drilling rig for Elixir Energy's (ASX:EXR) Lorelle-3 (L-3) well in Queensland's Taroom Trough is on track, with latest guidance for Jan. 12, Euroz Hartleys said in a note on Thursday.

The drilling of the vertical well and lateral reservoir section is targeted for the March quarter of 2026, while the stimulation and flow testing are expected to follow with results in around the September quarter of 2026.

Elixir's strategy, which is now funded after a AU$14.6 million investment by Omega Oil and Gas, is targeting 100% retention of all Taroom Trough acreage.

The investment firm maintained its speculative buy recommendation and raised the price target to AU$0.13 per share from AU$0.08 per share.

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