Elixir Energy expands Project Grandis with ATP 2077 award

Elixir Energy Ltd (ASX:EXR) managing director Neil Young joins Jonathan Jackson in the Proactive studio to discuss the formal award of ATP 2077, expanding its 100%-owned Project Grandis in Queensland. This award follows the company's appointment as Preferred Tenderer for the area adjacent to its existing ATP 2044 licence. The new licence, which has an initial term of six years and no domestic market restrictions, comprises three sub-blocks. Sub-block A, located near ATP 2044, shares similar geology and has had contingent gas resources independently certified. Sub-block B, also overlying the Taroom Trough, will be assessed for prospective resources in the future, while Sub-block C, adjacent to existing gas infrastructure, has identified potential shallow drilling targets. The contingent resources for Sub-block A are based on detailed analysis by Elixir and independent firm ERCE. The key challenge remains demonstrating a commercial flow rate and developing a viable plan. Elixir’s recent achievement of a 2.5 million cubic feet per day flow rate from the Lorelle Sandstone is noted, with further testing planned. Young emphasised that the resource booking from ATP 2077 is a strategic achievement, adding valuable gas resources at minimal cost. #ProactiveInvestors #ElixirEnergy #ASX #ProjectGrandis #ATP2077 #GasExploration #Queensland #TaroomTrough #NaturalGas #EnergyResources #ResourceEstimates #GasInfrastructure #ElixirUpdate #EnergyExpansion #ResourceDevelopment #NeilYoung #SeismicInterpretation #GasFlowRate #EnergyNews #OilAndGas #GasProduction #ResourceCertification#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews