Elixir Energy: Acquires Queensland gas asset

Elixir Energy Acquires Queensland gas asset

• Elixir Energy (EXR) buys a 100 per cent interest in petroleum exploration permit ATP 2044 in Queensland via the acquisition of EnergyCapture
• ATP 2044 is prospective for gas and condensate in conventional and unconventional sandstones and fractured coals, and Elixir expects to begin drilling in 2023
• An estimated prospective resource outlined high 3U total recoverable gas of 6811 billion cubic feet and high 3U total associated condensate of 272 million barrels of oil
• The company paid $500,000 for the permit as well and issued more than 20.7 million Elixir shares
• Elixir is up 1.79 per cent on the market and trading at 14.3 cents at 11:50 am AEST