Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has been granted a renewal of ATP2044 and, concurrently, awarded a Potential Commercial Area (PCA356) covering 100% of the permit, securing retention of the licence for 15 years.
PCA356 covers 1,058 km² in Queensland’s Taroom Trough and contains 1,362 BCFe of independently certified 2C Contingent Gas Resources, confirmed by drilling and testing at the Daydream-2 exploration well in 2024.
Retaining its Taroom Trough acreage without partial relinquishment is a strategic imperative under Phase 1 of its Strategic Plan released in May 2025.
“The granting of this retention instrument in PCA356 over the complete ATP2044 tenure was a strategic goal set for this year," Elixir Energy managing director and chief executive officer Stuart Nicholls said.
“Post the drilling of Lorelle-3 and the acquisition of the Teelba 2D Seismic, 100% of Elixir’s Taroom Trough acreage which spans 500,000 net acres (or more than 2,000km²) will be eligible to be retained under similar licenses giving the company up to 15 years to participate in the joint de-risking and commercialisation of this exciting new play along with Shell, Santos and Omega”
3D seismic acquisition for ATP2077
Elixir has been busy in the lead-up to Christmas, last week signing an agreement with QGC Pty Limited (QGC) to support its entry into ATP2077 Block A (100% Elixir) and the acquisition of 3D seismic.
Under the arrangement, Elixir will receive processed 3D seismic covering Block A, as well as data from a reciprocal area extending from the shared boundary between QGC’s ATP645 and Elixir’s ATP2077, up to 2 km into ATP645. In return for the upfront geophysical dataset, Elixir will provide QGC with information and logs from the planned Daydream-3 well.