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Elixir Energy Completes Fracture Stimulation at Queensland Appraisal Well; Shares Gain 9%

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Elixir Energy (ASX:EXR) said it completed a 12-stage fracture stimulation program at its Lorelle-3H appraisal well in Queensland, according to a Friday filing with the Australian bourse.

The company said all of the sand pumped was placed within the target formation to achieve "a permeability pathway into the reservoir."

Lorelle-3H will be in partial flow back while stage-plugs installed during the fracture stimulation are milled, after which Elixir will rig down the coiled tubing unit and start the staged flowback of the well. The company will then perform gas-condensate production testing over a 30-day period.

Shares of Elixir Energy advanced 9% in recent Friday trade.

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