Elixir Energy (ASX:EXR) started drilling operations for the Lorelle-3 appraisal well in ATP2056 within Queensland's Taroom Trough, following the mobilization of the Helmerich & Payne FlexRig 3 Rig 648, according to a Tuesday filing with the Australian bourse.
The company holds a 50% interest in Lorelle-3 while Santos (ASX:STO) owns the remaining 50%, per the filing.
Elixir Energy shares fell nearly 5% in afternoon trade on Tuesday, while Santos shares were up 3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.