Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 June 2024asset acquisition disposition▲ GoodMajor
Elixir was named Queensland Government preferred tenderer for licence PLR2023-1-7 (526 km2), next to Grandis. The 152 km2 Taroom Trough part adds 14% to its acreage there. 100% interest and no domestic gas reservation; the final permit still needs environmental and native title steps.
18 June 2024other● Neutral
ASX paused trading in Elixir shares pending a further announcement. Administrative; no reason given in the notice itself.
17 June 2024drilling progress report▲ Good
Condor Energy has been engaged to finish the remaining Daydream-2 stimulation stages, restarting late July or early August. Debris from the stuck bridge plug tool is cleared. This resolves the May equipment problem; flow testing of all zones is aimed for August.
29 May 2024admin correction● Neutral
Re-release of the 26/27 May contingent resource announcement, adding a Daydream-1/-2 location map and expanding Appendix 1 notes. Figures are unchanged: 2C gas 1,297 Bcf, up 328% from 395 Bcf. The earlier release should not be relied on.
27 May 2024resource reserve update▲ GoodMajor
ERCE certified Grandis 2C contingent resources at 1,297 Bcf, up 328% from 395 Bcf in 2022 (1C 405, 3C 4,290 Bcf). Sandstones only; coals excluded. The key contingency remains flow rate, with the upper zones untested.
15 May 2024investor presentation● Neutral
QEC presentation on Project Grandis showing about 1,132M shares, A$12M cash including R&D, and a market cap of A$125M at 11c. Repeats known resource figures; no new results.
29 Apr 2024drilling progress report● NeutralMajor
The Lorelle Sandstone was stimulated and cleaned up; modelling suggests it alone could flow commercially, with breakeven estimated at 2.5 MMscf/d. A stuck bridge-plug setting tool and equipment commitments forced demobilisation; the other five stages resume in about a month.
29 Apr 2024other● Neutral
ASX notice that the suspension will lift once Elixir releases its Daydream-2 stimulation update. Administrative.
29 Apr 2024other● Neutral
At Elixir's request, shares were placed in voluntary suspension pending an update on the design, timing and intended outcomes of the Daydream-2 stimulation. Follows a trading halt request dated 24 April.
22 Apr 2024investor presentation● Neutral
Invitation to, and slides for, a 23 April investor webinar on Grandis. The slides repeat known market and project points; no new results.
19 Apr 2024drilling progress report▲ Good
Halliburton began the six-stage stimulation at Daydream-2 on 18 April, targeting two coal zones, three tight gas zones and the Lorelle Sandstone. Flow testing follows and will feed a revised resource assessment.
9 Apr 2024investor presentation● Neutral
QUPEX presentation repeating the Taroom Trough gas market and Grandis story, with the long-term price floor wording raised from A$10 to A$12. No new results.
5 Apr 2024flow test result▲ GoodMajor
Daydream-2's Lorelle Sandstone (4,200-4,217 m) flowed gas without stimulation, at a stabilised 1.3 MMscf/d (peak 2.3). This confirms the late-2023 gas kick was no one-off. Stimulation follows within weeks; Daydream-3 is in preliminary planning.
26 Mar 2024investor presentation● Neutral
Presentation to the Australian Domestic Gas Outlook Conference on the gas market and the Grandis project's location next to Wallumbilla. It repeats known points; no new results or figures.
26 Mar 2024admin correction● Neutral
Re-release of the 26 March conference presentation to correct a date typo: the Kyoto quote should read 1997, not 2027. No other change.
15 Mar 2024drilling progress report▲ Good
A coiled tubing unit is cleaning out Daydream-2 ahead of diagnostic tests, with stimulation of 6 zones by Halliburton in April-June, then flow tests. Net sandstone pay revised up from 154 m to 180 m after external review. Nomgon-10 got a bigger pump.
23 Feb 2024half year report● Neutral
Half-year to 31 December 2023: net loss of $397k, down from $1.16M, helped by $1M Origin data-sharing income. Cash was $11.2M. $4.9M of R&D tax credits is receivable. Restates known Daydream-2 results.
23 Feb 2024other● Neutral
Notice that 6,901,310 shares leave voluntary escrow on 26 February 2024. Administrative; no new business information.
21 Feb 2024resource reserve update▲ GoodMajor
Prospective resources in the Grandis coals rose to 3.6 Tcf (2U) after adding adsorbed gas, up 2,316 Bcf on the earlier 1,287 Bcf. Coals averaged 23 m3/t, with CO2 about 1%. Stimulation starts mid-April, aiming to convert these to contingent resources.
21 Feb 2024admin correction● Neutral
Re-release of the 21 February resource announcement to correct a typo: stimulation commences mid-April 2024, not 2025. No other change.
6 Feb 2024drilling result▲ Good
Lab work on Daydream-2 cuttings found clay rims that preserved porosity above 12% in the deep permeable sands, similar to the Perth Basin. Reservoir pressure is 9,400 psia, 80% above Waitsia. Explains the unexpected free-flowing zone; extent of the zone is still unknown.
1 Feb 2024investor presentation● Neutral
February corporate presentation repeating known points: 1,132M shares, A$16M cash including R&D, market cap about A$90M at 8c, and the 395 Bcf 2C resource. Says finding partners is a key 2024 focus. No new results.
18 Jan 2024drilling result▲ Good
Log analysis shows three gas-saturated sandstones (gross about 12 m) in the 4,200 m permeable zone, with porosity above 10% and similarity to Shell's Dunk-1 26 km away. Elixir says the play could be extensive. Diagnostic injection tests in 5 zones start around end of January.
20 Dec 2023contract award▲ Good
Daydream-2 is cased and suspended and the rig released. Elixir signed Halliburton as lead contractor for its stimulation program after a competitive tender. Physical stimulation work is expected to begin in February, with lab results due in January.
19 Dec 2023admin correction● Neutral
Administrative cleansing notice confirming issue of 76,176,470 placement shares at 8.5c on 19 December, announced on 13 December. No new business information.
14 Dec 2023drilling result▲ GoodMajor
Daydream-2 logs show an interpreted 154 m of net gas pay in sandstones (Kianga 78 m, Back Creek 76 m), plus 65 m of gassy coals to be stimulated. Over-pressure is estimated at about 0.69 psi/ft. Well costs are coming in under budget.
13 Dec 2023capital raising announcement● NeutralMajor
Elixir raised $6.5M via a placement of about 76M shares at 8.5c, a 15% discount to last close, with one listed option (12c, expiring Oct 2026) per three shares. Funds mainly expand Daydream-2 stimulation and testing. No SPP offered, as one ran under 3 months ago.
What it means for a shareholder
76.0m new shares at A$0.085 to raise about A$6.5m. That's 6.7% dilution: every existing holder's slice gets 6.7% smaller. If you held A$1,000 of shares (11,765 at the issue price), your slice goes from 0.00112% to 0.00104% of the company. To keep it you'd need 848 more shares - about A$72 at the issue price.
Create a free account to see this worked out for your own holding.
7 Dec 2023drilling result▲ GoodMajor
Daydream-2 reached total depth of 4,300 m, about 100 m deeper than planned, and an unexpected permeable gas zone flowed gas to surface without stimulation (about 50,000 cubic feet flared). Gross gas-bearing interval is 607 m; drilled ahead of schedule and under budget. Origin has paid in full.
30 Nov 2023drilling progress report▲ GoodMajor
Daydream-2 reached the primary Kianga Formation at 3,694 m, ahead of schedule, with gas shows peaking at 777 units, 38 times background. Total depth of about 4,200 m and logging expected within a week. Shows only, not a test result.
23 Nov 2023drilling progress report▲ Good
Daydream-2 intermediate section reached 2,915 m and is being cased. Logs were acquired for Origin, which is now due to pay Elixir $1M under the agreement. Drilling is on track for about one month to total depth.
