Elixir Energy to receive $1 million in Origin data share deal
November 06, 2023 at 11:46 am EST
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Elixir Energy Ltd (ASX:EXR) MD Neil Young tells Proactive the company has executed an information-sharing agreement with Origin Energy ahead of the upcoming spud of its Daydream-2 well at the Grandis Gas Project in Queensland’s Taroom Trough. Origin is in the process of being awarded a greenhouse gas (GHG) licence which overlaps Elixir’s Grandis Gas Project, or ATP 2044. This licence facilitates Origin’s plans to investigate carbon capture and storage (CCS) in this area.
“We are very pleased to announce another non-dilutive source of finance for Daydream-2 (after the R&D tax credits that will come from the Federal Government),” said Young.
"This innovative deal provides a great win-win-win for Elixir, Origin – and the State of Queensland – in that one well will provide subsurface data that would otherwise require two wells.”
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Elixir Energy Limited is an Australia-based gas exploration and development company. The Company is focused on primarily focused on an exploration and appraisal program targeting natural gas in the form of coal-bed methane (CBM) in Queensland, Australia and the South Gobi, Mongolia. It is also developing Gobi H2 green hydrogen project and solar project in Mongolia. The Company holds 100% of a Queensland exploration permit ATP 2044, named Grandis Gas Project, located in the Taroom Trough of the Bowen Basin, Queensland. Its Grandis Gas Project covers an area of 1,000 square kilometers (km2) located close to existing gas transmission infrastructure centered on the Wallumbilla gas hub. he Nomgon IX CBM PSC (Nomgon Project) is located on the Mongolian Chinese border, around 400 kilometers (km) North of Chinaâs main gas transmission grid. The Nomgon Project license area covers 30,000 km2 (seven million acres). Its subsidiaries include Golden Horde Pty Ltd, GOH LLC, GOH Clean Energy LLC.