• Lorelle-3 pilot well drilled to 3,580m MDRT with multiple Permian reservoir targets observed
• 18m of high-quality core retrieved from the primary Tinowon 'Dunk' Sandstone target
• Wireline logs to be acquired to confirm reservoir thicknesses, quality and hydrocarbon saturation

Elixir Energy has successfully drilled the Lorelle-3 pilot well in ATP2056 within Queensland's Taroom Trough to a total depth of 3,580m MDRT. The primary, secondary and tertiary Permian reservoir targets were all observed on logging while drilling (LWD) tools, with associated elevated mudgas readings. The primary Tinowon 'Dunk' Sandstone target was encountered at 3,167m MDRT, with 18m of high-quality core successfully retrieved from the upper zone. Drilling then continued through the remainder of the Tinowon 'Dunk' Sandstone, which is preliminarily interpreted to be 60m thick, as well as the secondary Overston and Lorelle Sandstones and tertiary Kianga Group targets, all of which showed elevated mudgas readings. Multiple mudgas shows were also observed in the lower Rewan Formation. Elixir will now acquire a comprehensive series of wireline logs to confirm the thicknesses, rock quality and hydrocarbon phase/saturation of the intersected reservoirs. Following the evaluation program, Elixir plans to drill a horizontal sidetrack into the primary Tinowon 'Dunk' Sandstone target, which will then be cased and suspended for stimulation and production testing, with the aim of demonstrating commercial gas and condensate flow rates.

Elixir intends to execute a multi-stage fracture stimulation and production test at Lorelle-3 prior to June 2026. This sidetrack and flow test is designed to demonstrate commercial flow rates of gas and condensate from the Basin Centred Gas Play and then lead into a possible maiden Reserve conversion of the underlying Resource.