Elixir Energy (ASX: EXR) is advancing its new 3-phase strategic plan — aimed at maturing its 2.6 trillion cubic feet equivalent of 2C Contingent Resources across 2,000 square kilometres in Queensland’s Taroom Trough.
Meanwhile, the company appointed Kingsley Rudeforth as Chief Operating Officer to sharpen operational and technical execution.
On the ground, Elixir is progressing towards finalising joint venture deals with both XState Resources and Santos, as it prepares for a two-well drilling campaign.
A cost reduction program is also underway — targeting the removal of around 30% of recurring corporate and operating expenses.
Managing director & CEO, Stuart Nicholls said: “It has been a productive quarter, I am energised as we move into a very busy period toward the end of 2025, which may indeed lead to a rewarding one for our shareholders".
Elixir ended the quarter with $10.4 million in cash and receivables, fully funding delivery of Phase 1 of its fast-follower growth strategy.
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