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Highlights
- Elixir Energy secures new resource booking in Queensland’s Taroom Trough.
- 712 billion cubic feet in prospective gas resources identified in ATP 2077 Sub-Block B.
- Additional resource development potential in ATP 2044 and adjacent areas.
Elixir Energy (ASX:EXR) has significantly expanded its gas potential within Queensland’s Taroom Trough with a substantial new Prospective Resource booking. The company announced a 2U resource estimate of 712 billion cubic feet for Sub-Block B of its ATP 2077 license, marking a notable step in the company’s gas exploration and development efforts. Sub-Block B, one of three sub-blocks in the ATP 2077 license, is the latest addition to Elixir’s growing portfolio of resources, showcasing the promising energy potential within this region.
This booking follows previous evaluations, where Elixir recorded a Contingent Resource of 173 billion cubic feet in Sub-Block A of ATP 2077. Sub-Block A, situated close to ATP 2044, exhibits similar geological characteristics tied to the Taroom Trough and enhances the connectivity of Elixir’s resource holdings in the area. With this proximity to existing resources, the company is strategically positioned to maximize exploration and development opportunities across these blocks.
Prospective Resource Potential and Exploration Plans
The new Prospective Resource in Sub-Block B offers significant possibilities for further gas production. While Sub-Block A already holds a Contingent Resource, Sub-Block B is deemed prospective due to its location farther from Project Grandis. Its deeper geological characteristics align with the Taroom Trough’s gas-rich attributes, positioning it for future unconventional gas recovery. Elixir's Sub-Block C, also under ATP 2077, lies outside the Taroom Trough but is close to existing infrastructure, which makes it a target for conventional oil and gas exploration.
Elixir Energy’s technical team has employed extensive analysis methods, including seismic interpretation, geological correlations, and wireline petrophysics, to ensure robust estimates for Sub-Block B. The team’s evaluation reflects the potential of tight sandstones and Permian coals within this block, forming a strong basis for prospective gas resources.
Contingent Resource Updates and Future Development
Elixir’s efforts in ATP 2077 represent just a portion of its broader strategy. The company plans to release updated Contingent Resource estimates for ATP 2044 by the end of the year, which may add further value to its portfolio. Additionally, exploration efforts are ongoing in Sub-Block C, also referred to as the Diona Block, where Elixir is in negotiations with potential partners to finance an exploration well. This collaboration could accelerate exploration activities and support the company's resource growth initiatives.
Through ongoing evaluations, Elixir continues to expand its portfolio, underscoring its commitment to harnessing gas resources in Queensland’s Taroom Trough and supporting Australia’s energy landscape.
