675% Up in a Year, is Elixir Energy a Further Buy, Hold or Sell

Elixir Energy announced new pipeline feasibility work and seismic progress supporting development plans in Taroom Trough basin.

Elixir Energy Limited (ASX: EXR)

on 10 April 2026 announced that it has started feasibility work with APA Group to assess the best and most cost effective route for northern Taroom Trough gas to reach the Wallumbilla Gas Hub.    

The study supports a future pilot concept based on a notional 40 TJ per day Lorelle project. It will compare a short pipeline link toward the Roma to Brisbane Pipeline and a longer direct route toward Wallumbilla. The work will define concept selection and move toward pre-FEED preparation.   

The results are expected in around 12 weeks. The scope also includes planning for condensate and light oil transport into Queensland refining markets. The study is linked to future reserves evaluation after planned flow testing at Lorelle 3H which is expected in June 2026.

Teelba Seismic Completion

On 30 March 2026, EXR reported completion of the Teelba 2D seismic program in ATP2057 within the Taroom Trough. The survey covered 225 km of high resolution lines and finished on time and within budget. Around 205 km of data sits inside the permit and the rest helps regional imaging and ties to nearby wells. Processing is being handled by Total Seismic and is expected to take about six weeks with priority lines fast tracked. 

The dataset will support interpretation of reservoir trends similar to those seen in the Lorelle 3 and 3H wells. The results are intended to assist Sproule ERCE in defining a possible new 2C Contingent gas condensate resource. 

The work also helps meet permit obligations linked to the 2025 farm in arrangement with Santos which holds a 50% working interest and operates after seismic completion.

Taroom Trough Infrastructure and Outlook

Taroom Trough sits close to major energy infrastructure in Queensland. It is near the Wallumbilla Gas Hub which sets domestic pricing and connects multiple pipelines across the state. 

It is also close to the Roma to Brisbane Pipeline and routes that lead to LNG export capacity at Gladstone of about 25 million tonnes per year. The region already shows gas and liquid flows from previous drilling using modern shale style techniques. Independent assessments describe the area as a multi TCF resource play. 

Activity is increasing with several operators planning new wells during 2026. Early pilot production could be seen within one to two years if development progresses. The basin is positioned as a growing focus area for both domestic supply and LNG linked demand.

Resource Position and Growth Strategy

The company holds a large position in the western Taroom area with about 500 thousand net acres and an estimated 2.8 TCFe of 2C gas resources. The region is seen as important for addressing long term East Coast gas supply tightness while also supporting LNG export markets. 

Development plans focus on staged appraisal and pilot production leading toward larger scale output over time. Industry activity and interest from major participants add momentum to the basin outlook. EXR remains funded to advance upcoming drilling and feasibility milestones. 

(Source: Company Report)