Elixir Energy achieves major gas milestone in Queensland

Proactive - Interviews for investors

Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) managing director Neil Young talks with Proactive’s Tylah Tully about a landmark announcement regarding the company's gas resource in Queensland. This milestone transitions the company’s prospective resource into a contingent resource, with gas successfully flowing from the deepest coal ever recorded in Australia — possibly the world. Young stated, "The gas in place is just enormous," noting a gas reserve estimated at more than 30 trillion cubic feet. The contingent resource of 245 billion cubic feet, representing less than 1% of the total, underscores the vast potential for future growth. He explained that increasing recovery rates could lead to significant revenue, with 1% equating to $3 billion. Elixir Energy has met its primary licence commitments, allowing the company flexibility as it seeks partnerships with global energy players. Plans for drilling and collaboration are set to advance the project throughout 2025, with further updates anticipated in the coming months. Stay tuned for more insights into Elixir Energy and its groundbreaking developments. Like this video, subscribe to Proactive's YouTube channel, and turn on notifications to keep up with the latest news. #ElixirEnergy #ASXEXR #OTCELXPF #GasDiscovery #EnergyInnovation #NaturalGas #CoalGasFlow #QueenslandEnergy #InvestorUpdates #NeilYoung