Elixir Energy mobilises for 200km Teelba seismic campaign in Taroom Trough Proactive uses images sourced from Shutterstock

Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has begun mobilising equipment and personnel for a new seismic program in Queensland’s Taroom Trough, as the company continues to build momentum across its growing gas portfolio in the Bowen Basin.

The company said mobilisation of the seismic fleet for the Teelba 2D Seismic Campaign has commenced in partnership with contractor Terrex Seismic, with acquisition expected to begin within the next week and take roughly three weeks to complete.

The campaign will acquire around 200 kilometres of new 2D seismic data across the northern portion of Elixir’s ATP2057 permit, targeting highly prospective acreage on the western flank of the Taroom Trough.

According to the company, the survey area sits on trend with key wells drilled by major industry players and aligns with “outstanding” petrophysical results recently reported from Elixir’s Lorelle-3 pilot well. Modern seismic data previously collected in the region has demonstrated geophysical attributes that correlate strongly with the reservoir characteristics observed in Lorelle-3.

The new seismic program aims to further define subsurface structures and identify thick Permian sand packages that could host commercial gas accumulations.

While ATP2057 does not yet contain a formally certified contingent resource, Elixir said the acquisition of higher-resolution seismic data could support the future independent certification of gas and condensate resources across the permit area.

The program will also satisfy work commitments tied to Elixir’s February 2025 farm-in agreement with Santos, under which the major will hold a 50% working interest and become operator following the completion of the seismic program.

Part of broader Taroom Trough appraisal push

The Teelba survey forms part of a broader campaign by Elixir to advance appraisal and development planning across its extensive Taroom Trough acreage position.

The company is the largest acreage holder in the basin, which has increasingly drawn industry attention due to its geological similarities to Canada’s prolific Montney Formation. The Taroom Trough also benefits from proximity to major gas infrastructure including the Wallumbilla Gas Hub, multiple pipelines and LNG export facilities along Queensland’s east coast.

Elixir has recently reported a steady series of operational milestones across the project area.

On Thursday, the company confirmed it had lined up contractors ahead of stimulation and flow testing at the Diona-1 well, while recent progress at the Lorelle-3 pilot well includes the successful installation of heel casing before the planned drilling of a roughly 1,000-metre horizontal section.

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Elixir has also strengthened its financial position ahead of these activities, recently securing a $10 million R&D-backed debt facility to support ongoing drilling and appraisal work.

Together, these developments form part of the company’s strategy to unlock the potential of its substantial gas resource base in the Taroom Trough, where Elixir already holds an independently certified 2C contingent gas resource of about 2.8 trillion cubic feet across its broader acreage position.

Results from the Teelba seismic campaign are expected later in the year once acquisition and processing of the new data are completed, with the program likely to play an important role in refining future drilling targets across the western portion of the basin.

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