Strategic Portfolio Farmout to Beach Energy

• $205 million transaction value
• $25 million cash and $180 million carried appraisal program
• Four-year fully funded appraisal program
• Elixir retains 1,193 km² net acreage
• Beach provides third-party validation and expertise

Elixir Energy Limited has announced a strategic farmout agreement with Beach Energy Limited for half of its Taroom Trough portfolio, excluding the Diona-JV sub block, with a total transaction value of $205 million. The consideration comprises $25 million in cash and $180 million in gross carried exploration, appraisal drilling, geotechnical and geophysical studies, seismic acquisition, reprocessing, and operating costs. The transaction aims to accelerate the de-risking of Elixir's acreage, support the conversion of significant reserves into production, and provide Elixir with a clear funding pathway over four years. Elixir will retain 1,193 km² of net acreage, including its operated position in the Diona-JV sub block, and will benefit from Beach Energy's extensive Australian gas production and east coast gas market experience.

Total transaction value: $205 million; Cash consideration: $25 million; Carried appraisal program: $180 million

The transaction is expected to accelerate the de-risking of Elixir's acreage, support the conversion of significant reserves into production, and provide Elixir with a clear funding pathway over four years.