225 km Seismic Survey Complete in Taroom Trough, Boosting Elixir’s Gas Prospects

Completion of Teelba Seismic Survey

Elixir Energy Limited (ASX:EXR) has announced the completion of its Teelba 2D seismic survey within ATP2057, located in Queensland’s Taroom Trough. The survey, executed by Terrex Seismic, delivered 225 kilometres of modern, high-resolution seismic data, acquired both on schedule and within the company’s budget. This milestone marks a significant step in Elixir’s strategic plan to appraise its substantial gas resources in the region.

Geological Significance and Resource Potential

The seismic acquisition focused on the western flank of the Taroom Trough, an area geologically consistent with Elixir’s successful Lorelle-3/3H appraisal well. The data covers key Permian-aged hydrocarbon-bearing reservoirs that have shown promising results in prior drilling. Importantly, the seismic interpretation aligns well with the reservoir units encountered at Lorelle-3/3H, which aided in precise geo-steering during drilling. This correlation enhances confidence in the subsurface model and supports the potential booking of a new 2C Contingent gas-condensate resource within ATP2057.

Processing and Strategic Partnerships

The seismic data is currently being processed by Total Seismic, with an expected turnaround of approximately six weeks. Priority is being given to lines critical for resource definition and certification, which will be conducted in collaboration with Sproule ERCE. This processing phase is crucial for meeting the work commitments tied to Elixir’s 50% farm-in agreement with Santos Limited, who will assume operatorship post-seismic. The partnership with Santos and proximity to Shell’s permit area underscore the strategic importance of Elixir’s acreage in a basin known for its multi-trillion cubic feet gas potential.

Positioning in the Taroom Trough Gas Play

Elixir Energy holds the largest acreage position in the Taroom Trough, part of Queensland’s Bowen Basin, a region characterised by significant basin-centred gas accumulations. The company’s assets benefit from proximity to established infrastructure, including the Wallumbilla Gas Hub, multiple pipelines, LNG export facilities, and refineries. This infrastructure advantage positions Elixir well to capitalise on any future commercialisation of its contingent resources.

Looking Ahead

With seismic acquisition complete and processing underway, Elixir is poised to advance its resource certification and farm-in objectives. The coming months will be critical as the company integrates new data, engages with technical partners, and refines its development plans. This progress reinforces Elixir’s commitment to unlocking value in one of Australia’s most promising onshore gas provinces.