17 Nov 2023investor presentation● Neutral
Updated version of the Noosa presentation, changing the slide wording to say Daydream-2 is currently being drilled. Otherwise the same content as the earlier release; no new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 Nov 2023investor presentation● Neutral
Noosa conference presentation repeating known points: 395 Bcf 2C resource, Origin deal, and 1,056M shares with A$11M cash at 30 September. Notes flowing gas from coals could convert prospective to contingent resources. No new results.
16 Nov 2023drilling progress report▲ Good
Daydream-2 has cased the 856 m tophole and is drilling the intermediate section to 2,950 m, on track for about a month to total depth. A Cultural Heritage Management Agreement was signed with the Mandandanji people across virtually all of ATP 2044.
10 Nov 2023drilling spud▲ GoodMajor
Daydream-2 appraisal well has spudded, about five kilometres from the 2011 Daydream-1 gas discovery. It is expected to reach 4,200 m in about a month, then be logged, with major stimulation and flow testing early in the New Year.
6 Nov 2023material agreement▲ GoodMajor
Information Sharing Agreement with Origin Energy: Origin pays all incremental costs plus $1M for data from Daydream-2 for its overlapping carbon storage licence. Origin has options on similar deals for up to five future wells. Further non-dilutive funding.
2 Nov 2023drilling scheduled● Neutral
SLB's rig SLR 185 has been released and is mobilising to Daydream-2, with spud due early the following week. Shell is drilling in the tenement immediately west of ATP 2044.
24 Oct 2023drilling scheduled● Neutral
Daydream-2 pad, road and water well are complete, and the high-pressure blowout preventer has arrived and been pressure tested. Spud has slipped to the first few weeks of November, after the SLB rig is released in the first week.
18 Oct 2023other● Neutral
Registry top-20 holder report for the new listed options, showing 62.3M options in total, with the top 20 holding about 49.5%. Administrative; no new business information.
18 Oct 2023other● Neutral
Registry distribution report for the new listed options: 340 holders and 62.3M options in total. Administrative; no new business information.
16 Oct 2023investor presentation● Neutral
AGM presentation largely repeating known points: Daydream-2 due to spud within a month, 48.5% R&D rebate, 395 Bcf 2C resource. Shows 1,029M shares and a new BDO audit partner, Andrew Tickle. No new results.
10 Oct 2023capital raising announcement● NeutralMajor
The Share Purchase Plan raised $1.725M at 7c, below the $3.5M target, bringing the total with the placement to $8.7M. Issue is conditional on AGM approval on 16 October. Funds go to Daydream-2, Nomgon and working capital.
3 Oct 2023debt financing● NeutralMajor
Elixir agreed a term sheet with Radium Capital for a debt facility of up to 80% of the FY24 R&D rebate, at 16% interest, secured on the rebate. A$0.4M FY23 rebate (48.5% of qualifying spend) is due soon. Non-binding framework.
27 Sept 2023drilling result▲ GoodMajor
Nomgon-10 pilot well was drilled and brought online in 19 days, with water flowing first and gas to follow. A second CBM discovery was declared at Yangir after Yangir West-2 tested 2 mD. Elixir says its main 2023 drilling goals are met.
21 Sept 2023drilling progress report▲ Good
Daydream-2 preparations advance: well pad and road works underway, water well drilling, long-lead items bought and Tier 1 contracts awarded. Spud is still expected a few weeks after the SLB rig is released in October. Elixir sees possible extra gas adsorbed in the coal, which could raise gas-in-place.
14 Sept 2023capital raising announcement● Neutral
The Share Purchase Plan opened, offering up to $3.5M at 7c with free attaching options. The Board may take an extra $2M or scale back applications. Closes 6 October; conditional on shareholder approval at the 16 October AGM.
14 Sept 2023capital raising announcement● Neutral
Shareholder letter delivering the Share Purchase Plan offer: up to $30,000 at 7c, free attaching options, closing 6 October. Repeats the terms announced earlier; no new information.
13 Sept 2023other● Neutral
Target Market Determination for the free options offered under the 7 September prospectus. Regulatory paperwork describing who the options suit; no new business information.
13 Sept 2023material agreement▲ Good
Elixir signed a Data Sharing Agreement with a Santos group company to exchange technical data on planned wells in neighbouring permits ATP 2044 and ATP 2056 in the Taroom Trough. It also sets up a forum for technical discussions. No funding or equity involved.
7 Sept 2023capital raising announcement● Neutral
Prospectus lodged for the Share Purchase Plan: up to $30,000 per eligible holder at 7c, with one free 12c option per two shares, expiring 17 October 2026. Offer closes 6 October. The SPP and options need shareholder approval at the AGM around 16 October.
7 Sept 2023drilling result▲ GoodMajor
Elixir declares a formal CBM gas discovery at Big Slope under PRMS rules, after Big Slope Shallow-1 measured 0.8 mD permeability and gas content up to 9 m3/t. Nomgon-10 pilot well spudded and four rigs now run. No resource volume is stated.
5 Sept 2023investor presentation● Neutral
Good Oil Conference presentation repeating known points: Grandis 395 Bcf 2C resource, Daydream-2 spud in October, Toyota Tsusho partnering on Gobi H2. Shows 932M shares and cash of $9.5M at 30 June 2023, before the raise. No new results.
29 Aug 2023capital raising announcement● NeutralMajor
Elixir raised about $7.0M through a placement of ~100M shares at 7c, a 14.6% discount to last close, with one 12c option per two shares. A Share Purchase Plan of up to $3.5M follows at the same price. Funds Daydream-2 and Nomgon; the R&D rebate is now stated as 48.5%, up from 43.5%.
What it means for a shareholder
100m new shares at A$0.070 to raise about A$7.0m. That's 9.7% dilution: every existing holder's slice gets 9.7% smaller. If you held A$1,000 of shares (14,286 at the issue price), your slice goes from 0.00153% to 0.00138% of the company. To keep it you'd need 1,533 more shares - about A$107 at the issue price.
Create a free account to see this worked out for your own holding.
17 Aug 2023drilling progress report● Neutral
Nomgon pilot returns to managed gas production, with gas still below the original rates but 'a clear increasing trend' emerging; water 110-120 bwpd. Nomgon-10 pilot well to spud late August. Big Slope-7 stopped at 666 m (short of the 800 m once reported) in difficult hole conditions, with 35 m of coal.
16 Aug 2023other● Neutral
Appendix 4G confirming the 2023 corporate governance statement is accurate as at 14 August 2023 and Board-approved. Administrative; no new business information.
16 Aug 2023annual report● Neutral
Annual report for year to 30 June 2023. Chairman says the Nomgon pilot had teething problems and its success will be seen this fiscal year, and notes the Daydream-2 R&D funding. Financial figures are not in the excerpt.
16 Aug 2023other● Neutral
Corporate governance statement for 2023, approved by the Board on 14 August. Describes governance policies and where the company departs from ASX recommendations. Administrative; no new business information.
16 Aug 2023drilling scheduled● Neutral
Daydream-2 spud is now expected in the last week of October. The rig finishes its current job around mid-October and a new 10,000 psi blowout preventer is due to be installed in early October. The water bore starts by end of August.
17 July 2023drilling progress report▲ Good
Big Slope-7 appraisal well hit gassy coal and is under injectivity testing; Bluebill-1S also intersected gassy coal. The pilot continues with water production ongoing, and planning for another pilot well advances. THREE60 Energy Group engaged to assist with pilot management.
3 July 2023director officer appointment● Neutral
Director interest notices for 3 July 2023: Chair Richard Cottee's performance rights converted into 7.5M shares (to 20.75M indirect). MD Neil Young converted 9.5M performance rights, taking direct holding to 37.4M shares. Nil-cost conversions on milestones, not trades.
3 July 2023drilling scheduled▲ GoodMajor
Daydream-2 appraisal well at Grandis is set to spud in late October 2023, with an SLB rig contracted and civil works approved. Target depth is about 4,200 m. It aims to expand the 395 Bcf 2C resource; the government R&D incentive covers 43.5% of cost.