Elixir Energy's Lorelle-3H flow testing due to restart in October, with Diona-1 lift work still awaiting approval

Elixir Energy (ASX:EXR) says the second phase of flow testing at its Lorelle-3H well in Queensland's Taroom Trough is scheduled to start on 1 October 2026. The company intends to review possible future Reserves bookings only after that testing. As this is a schedule, not a result, the start date and outcome are not confirmed here.

Why it matters

Elixir describes itself as the largest acreage holder in the Taroom Trough, a gas play in the Bowen Basin. It is aiming to appraise about 3.5 TCF of independently certified 2C Contingent Gas Resources. Elixir says commercial production cannot be assessed for Reserves purposes until more appraisal data is in. If testing supports it, that would move some of the resource closer to being counted as reserves. That is an inference, not a company statement.

Diona-1 is less certain

A second step is the artificial lift and recommencement of flow testing at Diona-1. A statement dated 12 August 2026 makes this subject to joint venture approval, and gives no firm timing. Our window for it runs from 12 August to 10 November 2026. Elixir holds 49% of the Diona Prospect, which has a gas prospective P50 estimate of 12.5 bcf (stated October 2025).

The Warkon Pilot

On 2 September Elixir updated its northwestern Taroom Trough production pilot, now called the Warkon Pilot:

• APA Group finished feasibility work on a direct pipeline of 52 to 53 km to the Wallumbilla Gas Hub.
• A preliminary Class 5 estimate (accuracy -30%/+50%) put 15-year capacity charges at $0.35 to $1.32 per GJ, depending on throughput of 150 to 40 TJ/d.
• Charges fall 74% from 40 to 150 TJ/d, which is why Elixir wants to explore shared infrastructure with neighbours.
• Simpliphi is due to finish concept work on the upstream plant in the current quarter.

Existing asset estimates

The largest estimate on the list is the Grandis Gas Project, with 1,715 bcf of contingent gas and 13 mmbbl of condensate (P50, stated February 2025), 100% owned by Elixir. Several other estimates are old, such as Area A at 1,447 bcf (2013), and the company's interest is not disclosed for some assets.

Elixir says its pilot cost and timing figures are preliminary.