HIGHLIGHTS
• Maiden Contingent Resource booking for Deep Dry Coals certified by Independent Auditor
ERCE
• 2C Recoverable Resource booking of 245 billion cubic feet in ATP 2044 and ATP 2077
• Recovery factor of <1% applied to 2C Gas in Place in the coals of 31,710 billion cubic feet
Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an update to its Grandis Gas
Project in ATP 2044 and ATP 2077, where the Company holds 100% working interests.
Deep Dry Coal Contingent Resource
Elixir has received independent certification of a contingent resource within the deep dry coals of ATP
2044 and ATP 2077 (Sub-block A only). The certification was undertaken by Independent
Resource/Reserve Auditor ERCE Australia Pty Ltd (“ERCE”).
Based on the work undertaken by ERCE, the updated contingent resources for Project Grandis are
summarized below. A maiden resource booking from the deep dry coals of 245 BCF. This increases
the total Project Grandis 2C recoverable gas resources by 17% to 1,715 BCF.
Given the first time recognition of contingent resources in the deep coals, the total 2C Gas in Place
has increased 120%, to 58,137 BCF.
The Deep Dry Coals of the Kianga Formation and Back Creek Group were one of the primary targets
of the Daydream-2 well, which was drilled and tested in 2023 and 2024. The well identified significant
gas contents in the coals whilst drilling.
Subsequent stimulation and production testing flowed gas from isolated coals for the first time in the
Taroom Trough, at depths between 3,698m and 3,786 metres. The gas had a different
chromatographic signature than gas from the sandstones which were also tested in the well. This
was a key foundation for gas in the deep dry coals to be certified as a Contingent Resource.
Elixir’s Managing Director, Mr Neil Young, said: “Investigating the potential of the deep dry coals in
the Taroom Trough was one of the key objectives for our Daydream-2 vertical well and to make a very
material contingent resource booking from the first well that sought to do so is a great outcome for
Elixir – and the broader play. The massive extent of the gas in place in these deep coals – more than
30 trillion cubic feet – illustrates the incredible resource upside in this play.”