Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has completed its Teelba 2D seismic survey at ATP2057 in Queensland’s Taroom Trough, with the program finished on schedule and on budget.
225 kilometres of modern high-resolution 2D seismic had been acquired across some of its most prospective western Taroom Trough acreage, which is geologically on trend with the Lorelle-3/3H appraisal well.
Of the total seismic data collected, about 205.4 kilometres was acquired within the permit area, while a further 19.3 kilometres was gathered outside the block to help image subsurface structures within ATP2057 and tie lines into additional wells or seismic volumes.
The survey focused on the western side of the Taroom Trough, immediately south of Shell’s permit and primary investment area. Elixir said the seismic also covers the same Permian hydrocarbon-bearing reservoir package encountered at Lorelle-3/3H.
Data to support contingent resource estimate
That well was an important reference point for the new survey, with Elixir noting that reservoir units identified during drilling closely matched earlier 2D seismic interpretations and supported successful geosteering of the horizontal well section.
The company believes the newly acquired data will add significant value over time and support efforts to define a potential new 2C contingent gas-condensate resource within ATP2057.
Elixir is using the Teelba seismic data, together with results from Lorelle-3/3H and other regional wells, in work with independent reserves and resources consultant Sproule ERCE as part of that resource assessment process.
Processing of the Teelba 2D seismic volumes is now underway with Total Seismic. Elixir expects processing of all lines to take about 6 weeks, with selected lines being prioritised to assist the resource booking process.
Completion of the survey also marks an operational milestone for the company under its February 2025 farm-in agreement with Santos Ltd. Under that deal, Santos will become operator after seismic and hold a 50% working interest.
Elixir said meeting the work requirements and permit commitments associated with that farm-in is a critical Phase 1 objective under its strategic plan.
The Teelba survey is aimed at building a clearer picture of the subsurface potential across ATP2057 as Elixir continues to assess the commercial opportunity of its Taroom Trough acreage.