Daydream-2 Operations Concluded

Release Highlights:

• Elixir Energy Ltd. (ASX: EXR) is pleased to announce the successful conclusion of testing at the Daydream-2 wellsite in its 100% owned Project Grandis in Queensland’s Taroom Trough, achieving commercial flow rate from five out of six stimulated zones. Included for the first time are two new deep coal zones, which Elixir Energy will now retain as future gas producers.
• Elixir Energy has met all license commitments for ATP 2044 and will proceed with applying for a retention lease (Potential Commercial Area) while also working on converting current prospective resources into contingent resources for export.
• At a 328% increase of contingent 2C (1.47 trillion cubic feet), and a 180% increase of prospective 2U (3.6 trillion cubic feet) since the previous resource estimate, Elixir Energy plans operational changes to improve and further de-risk the significant gas resources at the future wells now established and is progressing with plans for the Daydream-3 appraisal well.