Elixir Energy has provided a detailed operational and technical update through its latest investor presentation at the Euroz Rottnest Conference, outlining progress at the Lorelle-3 well and broader advancement across its Taroom Trough position in Queensland. The presentation consolidates recent drilling results, reservoir insights and forward activity, positioning the company within an increasingly active basin targeting large-scale gas supply into the East Coast market.
The update centres on the Lorelle-3 appraisal well and its horizontal extension, alongside a broader programme of stimulation, testing and seismic acquisition scheduled through 2026.
What happened
In the presentation, Elixir Energy confirmed successful drilling, casing and suspension of the Lorelle-3 well to a total depth of 5,691m, completed in 46 days at a cost of $15.7m inclusive of R&D scope.
The results outlined include:
锟� 148m of net gas pay across four Permian reservoir units
锟� 1,033m of net gas-condensate pay in the horizontal section
锟� Maximum porosity of 18% and average porosity of 11.2%
锟� Gas sample successfully obtained
The well incorporated a complex drilling and evaluation scope, including coring and pilot-to-lateral execution.
Lorelle-3 also confirmed the northern extension of the Tinowon 锟紻unk锟� Sandstone reserv
oir system.
Why it matters
The presentation reinforces the Taroom Trough as a large-scale, undeveloped gas and liquids system with proximity to established infrastructure, including the Wallumbilla Gas Hub and LNG export capacity at Gladstone.
Key implications include:
锟� Confirmation of stacked reservoir development potential across multiple zones
锟� Gas quality consistent with pipeline specifications
锟� Alignment with broader basin activity and ongoing operator investment
We are seeing increasing technical definition across the reservoir system, which supports continued appraisal and development planning.
What it changes
The results presented advance Elixir Energy锟絪 position in the Taroom Trough, where the company holds approximately 2.8 TCFe of 2C contingent resources and around 500,000 net acres.
锟� Up to 10 wells expected to be drilled across the basin in 2026
锟� Increasing participation from multiple operators
锟� Continued expansion of seismic acquisition and data integration
We are moving toward a more coordinated appraisal phase across the basin, with multiple workstreams contributing to technical de-risking and development sequencing.
Next milestones
锟� Approximately 11-stage fracture stimulation of Lorelle-3H
锟� 30-day gas and condensate production test scheduled for Q2 2026
锟� Completion of R&D programme in Q1 to Q2 2026
锟� Ongoing operations at Diona-1 and Teelba-2D
锟� Potential future reserves booking subject to testing outcomes
The programme outlined in the presentation places near-term focus on production testing and data acquisition, which are expected to provide greater clarity on flow characteristics and reservoir performance. These results will inform subsequent appraisal, potential reserve conversion and development planning across the Taroom Trough.
We are progressing through a defined sequence of stimulation, testing and evaluation, with multiple concurrent activities across the asset base expected to contribute to a more comprehensive understanding of the system over the coming quarters.