Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Sept 2024drilling progress report● Neutral
A production logging tool confirmed the upper zones contribute flow, but the lower zone dominates. Fluid and proppant at the bottom of the hole are hampering flow rate. The coil tubing unit will return for clean-out, expected before end of September.
29 Aug 2024drilling progress report● Neutral
All temporary plugs between Daydream-2's six zones were removed and the well flowed gas and fluid unassisted. Only 41% of stimulation fluid has been recovered (4,300 of 10,392 barrels). A production logging tool run is next, and clean-up may take several weeks.
23 Aug 2024admin correction● Neutral
Re-release of the 23 August coal flow announcement, adding Listing Rule appendices, a footnote and 'Elixir's understanding' wording on the depth claim. The flow result is unchanged; rates and volumes were not measured.
23 Aug 2024flow test result▲ GoodMajor
Gas flowed to surface from the top coal zone (3,678-3,786 m) in Daydream-2, the first flow from Taroom Trough deep coals. This lets Elixir start converting its 3,603 Bcf prospective coal resource to contingent. The all-zone flow test will likely take some weeks.
21 Aug 2024drilling progress report▲ Good
Stimulation of all six Daydream-2 zones (Lorelle, three sandstones, two coals) is complete, some methods reportedly first used in Australia. Flow testing starts next, first confirming separate coal flow, then flowing all zones together. This follows the 16 August Lorelle result.
19 Aug 2024resource reserve update▲ GoodMajor
ATP 2077 was formally awarded, 100% to Elixir, 6-year term, no domestic gas reservation, resolving the June preferred-tenderer status. ERCE certified 2C contingent gas of 173 Bcf in sub-block A, lifting Grandis 2C to 1,470 Bcf (+13%).
16 Aug 2024agm notice● Neutral
Shareholder letter announcing the AGM on 19 September 2024 in Adelaide, with the notice and annual report on the website. It includes proxy voting instructions and electronic-communications guidance. Administrative.
16 Aug 2024flow test result▲ GoodMajor
After stimulation, the Lorelle Sandstone flowed at a maximum of 3.5 MMscfd, with stabilised rates of 2.1–2.5 MMscfd, versus 1.3 unstimulated in April. That is near the 2.5 MMscfd economic hurdle. Five upper zones are now being stimulated.
16 Aug 2024other● Neutral
Appendix 4G governance checklist for the year to 30 June 2024, confirming the corporate governance statement is current at 15 August 2024 and board-approved. Administrative; no new operational or financial information.
16 Aug 2024other● Neutral
2024 corporate governance statement, approved by the board on 15 August. Administrative; no new operational or financial information.
16 Aug 2024annual report● Neutral
2024 annual report for the year to 30 June, including the Chairman's letter. It says Daydream-2 stimulation and testing are under way and hopes the Nomgon pilot reaches gas breakthrough by Christmas. Larger partners may take interest after de-risking.
9 Aug 2024drilling progress report● Neutral
Equipment, proppant and a camp are in place at Daydream-2. The plug above the Lorelle is due to be milled over the weekend, with flow testing straight after. Results are expected the following week.
1 Aug 2024drilling progress report● Neutral
On-site work at Daydream-2 restarted, but wellhead pressure was an unexpected 3,410 psi despite a full water column. Possible causes are a leaking temporary plug or perforations above the Lorelle contributing gas. It is safely contained; the coming program should clarify it.
31 July 2024capital raising announcement● Neutral
Section 708A cleaning notice for the 25 July placement: 62.5M shares, 15.6M placement options and 3.1M broker options issued on 31 July. Administrative. The notice also contains an apparent typo of 262.5M shares.
31 July 2024quarterly activities report● Neutral
June quarter report recapping the 328% resource increase, the new acreage tender and the July $6.25M raise. It says Daydream-2 resumed after delays, Nomgon gas breakthrough is targeted by year end, and a non-recourse R&D-backed debt facility was drawn. Mostly known facts.
25 July 2024capital raising announcement● NeutralMajor
Elixir raised $6.25M via a placement of 62.5M shares at 10c, a 13% discount to last close, with one EXROB option (12c, expiring Oct 2026) per four shares. Funds cover Daydream-2 contingencies, long-lead items for the next well and farm-out negotiating strength.
What it means for a shareholder
62.5m new shares at A$0.100 to raise about A$6.3m. That's 5.2% dilution: every existing holder's slice gets 5.2% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.000882% to 0.000836% of the company. To keep it you'd need 551 more shares - about A$55 at the issue price.
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18 July 2024drilling progress report● Neutral
Daydream-2 work restarts in about two weeks with Condor's coil tubing unit: first mill the plug and flow the stimulated Lorelle, then stimulate and test five more zones. The aim is to exceed 2.5 MMscfd combined, and the coal zone is to be tested separately first.
9 July 2024investor presentation● Neutral
Webinar slides on the east coast gas supply squeeze and Taroom Trough advantages. Capital structure figures repeat earlier ones (1,132M shares, A$12M cash, A$125M market cap). No new results.
8 July 2024investor presentation● Neutral
Invitation to a 9 July investor webinar on the Daydream-2 stimulation and flow testing program. No new results.
2 July 2024production update▲ Good
Nomgon pilot water output is stable at about 280 barrels a day, with reservoir pressure falling about 5 psi a month. Gas breakthrough is expected before end-2024. The two extra pilot wells previously considered are no longer seen as necessary.
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.
30 Apr 2024quarterly activities report● Neutral
March quarter report recapping the Lorelle flow, the 3.6 Tcf coal prospective resource and the stimulation delay. Cash equivalent is $11.9M and the program is stated as fully funded. An updated contingent resource report is planned in coming months; talks continue with partners and offtakers.
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.
