- Elixir and Endpoints Capital have executed definitive documentation for the
provision of a debt facility of up to $10 million to provide funding secured
against the Lorelle-3 appraisal well锟絪 approved R&D program via the
AusIndustry Advance Finding.
- The Lorelle-3 R&D program will cover up to 48.5% of the eligible costs
associated with the drilling, analysis, completion and testing.
Elixir Energy Limited is pleased to announce that it has
executed definitive documentation with Endpoints Capital for a debt facility to provide
forward funding for the eligible R&D cost component of the high impact Lorelle-3 appraisal
well in ATP2056 within Queensland锟絪 Taroom Trough.
As disclosed on 10 November 2025, the Lorelle-3 appraisal program was awarded an Advance
Finding through its application to AusIndustry under the Federal Governments Research and
Development Tax Incentive for the three-year period between FY26 锟� FY28. This will enable
eligible costs associated with the Lorelle-3 qualifying activities that cover the drilling, coring,
logging, analysis, completion and testing of the well for up to a 48.5% refund under this
program through the Company锟絪 tax return process. Endpoints Capital have made available
to Elixir a debt facility of up to $10 million that will enable Elixir to access up to 80% of its
estimated FY26 R&D tax refund in advance, in order to manage its working capital during a
period of significant operational activity prior to receiving its tax refund. All significant
expenditure associated with Lorelle-3 is expected to occur in this financial year prior to 30
June 2026. The facility has a drawdown fee of 1% and interest rate of 15.75% that is capitalised
until the repayment of the loan. The loan is secured against the Company锟絪 FY26 R&D refund
with no attaching warrants, options or equity instruments and must be repaid the earlier of 28
February 2027 or receipt of the R&D refund.
Elixir Energy Limited锟絪 Managing Director & Chief Executive Officer Stuart Nicholls said:
锟絊uccessfully applying for the AusIndustry Advance Finding and the prequalification of the
Lorelle-3 appraisal campaign, gives Elixir the security required in order to be able to borrow
against its future R&D refund. With the drilling and testing of Lorelle-3, the completion and
testing of Diona-1 and the Teelba 2D seismic campaign all occurring in the first 6-months of
this year, this facility will give Elixir the balance sheet flexibility to ensure it is well capitalised between now and when the R&D refund is received as part of the Company锟絪 annual tax return
process.锟�