Elixir Energy said its transaction with Beach Energy has a stated value of $205 million, comprising $25 million in cash and a $180 million gross carried appraisal program. The company said it retains 1,193 square kilometres of net acreage, including operatorship of the Diona joint venture sub-block.
The indicative four-year program includes fracture-stimulated extended-reach horizontal appraisal wells, testing and completions, an exploration well in ATP2057, about 500 square kilometres of 3D seismic acquisition and processing, DD2 retesting, new 2D seismic in ATP2044, and geotechnical and geophysical studies. Elixir noted that programs, well locations, designs and targets are subject to Beach's discretion and engagement with Elixir.
Elixir reported total net attributable 2C contingent resources of 3,455 BCFe, including 3,274 Bcf of gas and 30 million barrels of condensate. The company cautioned that these are un-risked contingent resources classified as Development Unclarified, and that there is no certainty any portion will be economically viable to produce.
Source: Download EXR official ASX announcement, 2026-11-05.
Aerial photograph of well testing at Lorelle-3H, from Elixir Energy’s 5 November 2026 AGM presentation.