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8 stories mentioning ASX:EXR

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Asia

Elixir Energy Starts Completion, Testing Phase for Queensland Well

Elixir Energy (ASX:EXR) started the stimulation, completion, and testing phase for its Lorelle-3H appraisal well in ATP2056 within the Taroom Trough in Queensland, according to a Thursday filing with the Australian bourse.The diagnostic fracture injection test will be undertaken at the toe of the horizontal well to measure reservoir pressure of the Tinowon "Dunk" Sandstone and collect other data to support the multi-stage stimulation, the filing said.Work to design an optimal fracture stimulation and production test has largely concluded, with the company completing the contracting, procurement, and preparation for the current phase, per the filing.Shares rose 2% in morning trade on Thursday.

ASX:EXR
Asia

Elixir Energy's Queensland Exploration Well Falls Short of Fluid Recovery Target

Elixir Energy (ASX:EXR) said its Diona-1 exploration well in Queensland has recovered about 46% of injected fluid in the Surat-Bowen Basin, falling short of the 50% to 60% range required to demonstrate natural flow stabilization, according to a Tuesday filing with the Australian bourse.Gas production remains nearly impurity-free, indicating strong reservoir quality and connectivity, but unstable recovery persists due to returning stimulation fluids, as confirmed by echo meter data and salinity measurements, per the filing.The joint venture is considering an artificial lift system to resume flow testing and better assess the gas-condensate resource, while also engaging Sproule ERCE to independently certify contingent resources across the 375-square-kilometer Diona sub-block, the filing added.Elixir holds 49% of the ATP2077 Diona sub-block joint venture, while Xstate Resources (ASX:XST) holds a 51% stake.

ASX:EXRASX:XST
Asia

Elixir Energy Starts Flow-Back at Queensland Exploration Well

Elixir Energy (ASX:EXR) said it has started flow-back and clean-up operations at the Diona-1 exploration well in Queensland following the completion of stimulation at the site, according to a Monday filing with the Australian bourse.The workover rig and ancillary equipment is being demobilized from Diona-1, with the well testing package rigged up, per the filing.Diona-1 will continue unloading stimulation and completion fluid. Once gas and condensate displace and dominate the overall production stream, the stream will be diverted to the measurement equipment, and the multi-rate and pressure monitoring phase will begin, Elixir Energy said.

ASX:EXR
Asia

Elixir Energy Completes Stimulation Activities at Queensland Well Site

Elixir Energy (ASX:EXR) completed stimulation activities at all target zones within the Diona-1 well site in the Surat-Bowen basin in Queensland, with equipment now demobilized, according to a Monday Australian bourse filing.During the flowback period post-stimulation, the presence of gas was observed along with the return fluids.Milling and completion operations are underway, after which the flow testing and pressure monitoring operations will begin.Elixir holds 49% of the ATP2077 Diona sub-block joint venture, while Xstate Resources (ASX:XSR) holds a 51% stake.

ASX:EXRASX:XST
Asia

Stimulation Equipment Arrives at Elixir Energy's Queensland Well Site, Shares Up 7%

Elixir Energy (ASX:EXR) said stimulation equipment arrived and rigging up began at the Diona-1 well site in the Surat-Bowen basin in Queensland, according to a Tuesday Australian bourse filing.The equipment will be used for the three-zone fracture stimulation operations of the net gas-condensate pay measured at Diona-1.Flowback, production, and pressure-monitoring tests will begin at the well after fracture stimulation, completion, and rigging up of well testing equipment.Its shares rose 7% in recent trading on Tuesday.

ASX:EXR
Asia

Elixir Energy Holds Largest Net Acreage in Queensland's Taroom Trough After 24% Increase in Discovered Resources, Euroz Hartleys Says

Elixir Energy (ASX:EXR) now holds an estimated contingent resource position of 3.5 trillion cubic feet equivalent (Tcfe) of gas in the Taroom Trough acreage following a 24% increase in discovered resources, giving it the largest net acreage position in the Queensland oil and gas basin, Euroz Hartleys said in an April 24 note.That compares with a basin position of 1.7 Tcfe for peer Omega Oil & Gas (ASX:OMA), the equity research firm said.Elixir Energy's Lorelle-3H well is arguably "the best drilled in the basin to date," with a horizontal length of 1,157 meters and average porosity of over 11%, which materially de-risks the company's upcoming hydraulic fracturing and flow test from the middle of June, Euroz Hartleys said.The company also has a 50% stake in the Diona well, a side project on the fringes of the Taroom Trough that recently returned "encouraging" drilling results to prove potential opportunity for near-term cashflow, the equity research firm said.Euroz Hartleys reiterated its speculative buy recommendation on Elixir Energy with an under-review price target of AU$0.28.Elixir Energy and Omega Oil & Gas' shares each fell past 3% in recent Monday trade.

ASX:EXRASX:OMA
Asia

ASX Midday Sector Update: Information Technology Stocks Gain, Energy Declines

Information technology stocks were advancing over 4% to lead gainers in midday trading Tuesday, as markets remained hopeful for an eventual peace agreement between the US and Iran even as a naval blockade of the Strait of Hormuz took effect.WiseTech Global (ASX:WTC) and Xero (ASX:XRO), the two biggest stocks in the sector based on market capitalization, rose past 6% and over 5%, respectively.On the flip side, energy stocks were declining less than 1% as oil prices again tracked below $100 per barrel.Elixir Energy (ASX:EXR) bucked the trend and was advancing more than 16% after Euroz Hartleys said in a Monday note that the company is a key pick to tap the potential of the Taroom Trough, an emerging onshore oil and gas basin in Queensland that is gaining mainstream attention.

ASX 200ASX:EXRASX:WTCASX:XRO
Asia

Elixir Energy Front-Runner in Queensland-Based Taroom Trough, Says Euroz Hartleys

Elixir Energy (ASX:EXR) is a key pick to tap the potential of the Taroom Trough, an emerging onshore oil and gas basin in Queensland that is gaining mainstream attention, Euroz Hartleys said Monday in a note.Queensland Premier David Crisafulli last week led federal officials on a visit to the Taroom Trough with operators including Elixir Energy to highlight the basin's potential as a source of energy security.Elixir, much like the oil giant Shell, which is steering the commercialization of the basin, commenced feasibility work on Friday with APA Group (ASX:APA) on a pipeline linking potential Taroom Trough gas production to the Wallumbilla Gas Hub, improving access to domestic and export markets. Early drilling results from these companies are suggesting encouraging resource potential.Euroz Hartleys is betting on Elixir as the company trades at about half the valuation of basin peer Omega Oil and Gas (ASX:OMA) despite holding the largest net acreage and resource position in the Taroom. Additionally, Elixir holds a 50% stake in the Diona well, a side project close to the Taroom, which could support small-scale and near-term production if testing is successful.Euroz Hartleys maintained its speculative buy rating on Elixir Energy and raised its price target to AU$0.28 from AU$0.19.

ASX:APAASX:EXRASX:OMA