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Highlights:
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Elixir Energy Ltd is pursuing a retention lease for ATP 2044, following successful testing and appraisal at Project Grandis in Queensland’s Taroom Trough.
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The company has fulfilled all license commitments for ATP 2044, marking progress toward potential commercial production.
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In Queensland, the retention lease, referred to as a Potential Commercial Area (PCA), can have a maximum duration of 15 years.
Elixir Energy Ltd {OTC:ELXPF} is moving forward with plans to secure a retention lease for APT 2044, driven by the ongoing success of its Project Grandis in Queensland’s Taroom Trough. This project is poised to significantly contribute to meeting the strong demand for gas on Australia’s east coast.
Following a highly successful testing and appraisal program at Daydream-2, Elixir has met all the licensing commitments associated with ATP 2044. The application for the retention lease represents a crucial step toward achieving commercial production, demonstrating the company’s commitment to advancing its operations in the region.
In Queensland, the retention lease is referred to as a Potential Commercial Area (PCA) and can be granted for a maximum term of 15 years. Securing this lease will enable Elixir Energy to continue its development efforts and capitalize on the growing market demand for gas in eastern Australia.
