• Elixir has completed the drilling, casing and cementing of the Lorelle-3H well
• Measured 1,033m of high-quality net gas-condensate pay within the Tinowon 'Dunk' Sandstone
• Lorelle-3H has been suspended for a multi-stage stimulation and production test in Q2-26

Elixir Energy Limited has completed the drilling, casing and cementing of the Lorelle-3H well in ATP2056 within Queensland's Taroom Trough, achieving a total depth of 4,477m MDRT including a 1,157m lateral section within the primary objective of the Tinowon 'Dunk' Sandstone. Elixir has measured 1,033m of high-quality net gas-condensate pay within the Tinowon 'Dunk' Sandstone with an average porosity of 11.2% and a maximum porosity of 18%. The reservoir quality and hydrocarbon saturations of the Lorelle-3H well have far exceeded those measured in the initial pilot hole. Lorelle-3H has been suspended for a multi-stage stimulation and production test in Q2-26 which is set to be a defining moment for the Taroom Trough. The data and core gathered from the expanded evaluation campaign leads into a series of experiments and laboratory work that will support the design and execution of an optimal stimulation. Elixir then intends to execute a multi-stage fracture stimulation and production test of the L3H well prior to end-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.

Elixir is aiming to appraise its ~2.8 TCF of independently certified 2C Contingent Gas Resources which borders Shell's primary area of investment within the Taroom Trough. The multi-stage fracture stimulation and 30-day production test planned for the Lorelle-3H well in the second quarter may underpin Elixir's move towards its maiden Reserves booking in the Taroom Trough and the next phase of basin development.