Latest Bowen Basin News

Elixir Energy has successfully drilled the Lorelle-3 pilot well to 3,580 metres in Queensland’s Taroom Trough, intersecting multiple Permian hydrocarbon reservoirs including a thick section of the primary Tinowon ‘Dunk’ Sandstone. Wireline logging and upcoming stimulation tests aim to confirm commercial gas flow potential.

A single exploration name blew the doors off the leaderboard, while two well-known uranium plays and a Nevada explorer sank hard. Behind the noise: deals got closer to completion, big raisings reset prices, and several “good news” gaps didn’t survive the week.

A single drill program in WA delivered a once-a-year spike, while several small caps fell hard after reopening with price gaps. This week also saw big money raised for gold and uranium builds, and a run of resource upgrades across critical minerals.

Elixir Energy has reached 2,320 metres in the Lorelle-3 appraisal well and is preparing to drill the reservoir section targeting the Dunk member of the Tinowon Sandstone, with flow testing planned before mid-2026.

Yari Minerals has announced a maiden JORC Indicated Coal Resource of approximately 33.7 million tonnes at its Rolleston South Coal Project, boosting the total coal resource by 17% to around 223 million tonnes. The discovery of shallow coal seams and ongoing quality testing highlight the project's growing potential.

Bowen Coking Coal maintained steady production in the December quarter despite ongoing administration and a challenging market, though rising costs and a 12% sales dip highlight operational pressures.

Xstate Resources has reported a promising gas discovery at its Diona-1 well in Queensland, updating prospective resources to 200 billion cubic feet and securing funding for upcoming appraisal and production testing.

State Gas Limited has independently certified a maiden 2P gas reserve of 30.2 PJ at its Rolleston West Project, underpinning plans for a 10TJ/day gas development. The company also raised $3.2 million through convertible notes to accelerate pre-development activities.

Blue Energy Limited reports steady progress on its Sapphire gas project and awaits key government decisions on additional resource areas, positioning itself strongly in Queensland's evolving energy landscape.

Galilee Energy has secured the Zydeco Gas Project in Louisiana and raised $6.5 million to fast-track development, marking a pivotal shift towards becoming a mid-tier US gas producer.

Yari Minerals has kicked off its inaugural drilling at the Rolleston South Coal Project, confirming thick, continuous coal seams and promising coal quality that could upgrade its resource status.

Comet Ridge is set to consolidate 100% ownership of the Mahalo Gas Project, securing key environmental approvals and advancing engineering design and funding efforts to boost east coast gas supply.