New Risk • Jun 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 75% per year over the past 5 years. Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Recent Insider Transactions Derivative • Apr 16
CEO, MD & Director exercised options and sold AU$256k worth of stock On the 13th of April, Stuart Nicholls exercised options to acquire 2m shares at no cost and sold these for an average price of AU$0.16 per share. This trade did not impact their existing holding. For the year to June 2025, Stuart's total compensation was 21% salary and 79% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2025, Stuart's direct individual holding has increased from 4.05m shares to 12.26m. Company insiders have collectively bought AU$418k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Mar 21
CEO, MD & Director recently bought AU$100k worth of stock On the 19th of March, Stuart Nicholls bought around 1m shares on-market at roughly AU$0.091 per share. This transaction amounted to 9.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stuart has been a buyer over the last 12 months, purchasing a net total of AU$87k worth in shares. Recent Insider Transactions • Feb 13
Director recently bought AU$78k worth of stock On the 12th of February, Anthony Tarr bought around 859k shares on-market at roughly AU$0.091 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$98k more in shares than they have sold in the last 12 months. New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 67% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Significant insider selling over the past 3 months (AU$163k sold). Recent Insider Transactions • Jan 23
CEO, MD & Director recently sold AU$163k worth of stock On the 21st of January, Stuart Nicholls sold around 2m shares on-market at roughly AU$0.082 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Stuart has been a net seller over the last 12 months, reducing personal holdings by AU$12k. Recent Insider Transactions Derivative • Jan 23
CEO, MD & Director exercised options to buy AU$420k worth of stock. On the 21st of January, Stuart Nicholls exercised options to buy 5m shares at a strike price of around AU$0.07, costing a total of AU$350k. This transaction amounted to 81% of their direct individual holding at the time of the trade. Since June 2025, Stuart's direct individual holding has increased from 4.05m shares to 8.16m. Company insiders have collectively bought AU$497k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jan 22
Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 16.616127 million. Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 16.616127 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 339,905,533
Price\Range: AUD 0.041
Discount Per Security: AUD 0.0082
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 65,365,854
Price\Range: AUD 0.041
Discount Per Security: AUD 0.00205
Transaction Features: Subsequent Direct Listing Announcement • Jan 02
Elixir Energy Limited Appoints Peter Stickland and Anthony Tarr as Directors, Effective January 1, 2026 Elixir Energy Limited advises that Omega Oil and Gas Limited has exercised its rights under the Share Acquisition Agreement to nominate two directors to the Board of Elixir, as previously disclosed to the ASX. The Omega nominated directors have been appointed to the Board effective January 1, 2026. In connection with these appointments, Omega has entered into a Conflict and Confidentiality Protocol with the Company to appropriately manage any conflicts of interest that may occur and the handling of information arising from the Company’s joint venture arrangements. The Omega nominated directors are appointed in addition to the Company’s existing directors and are as follows: Peter Stickland has over 30 years’ global experience in oil and gas exploration. Mr. Stickland was Managing Director of Melbana Energy from 2014 to 2018 leading the company into its Block 9 Cuba project. Previously, Mr. Stickland was Managing Director of Tap Oil Limited from 2008 to 2010 during which time he oversaw the evolution of the company into a southeast Asia/Australia focussed E&P company. Prior to joining Tap Oil, Mr. Stickland had a successful career with BHP Petroleum (now part of Woodside) including a range of technical and management roles. Mr. Stickland is also a Non-Executive Director of Omega Oil and Gas Limited, Melbana Energy and a life member of the Australian Energy Producers Limited (AEP). Anthony Tarr is a senior executive, board director and academic leader with over 40 years’ experience in the energy and resource sectors. Mr. Tarr has held executive roles including Chief Executive Officer of ZeroGen Pty Ltd, where he led feasibility development of a multi-billion-dollar low-emissions power project. He has also held executive commercial and governance roles with leading energy and resources organisations, including Australia Pacific LNG and Xstrata Coal Queensland, and has significant experience in strategy, stakeholder engagement, risk management and complex commercial negotiations. His legal career includes serving as Chief Executive Officer of the Queensland Law Society and senior academic leadership roles in Australia, New Zealand and the United States. He holds advanced qualifications in law and economics and is an experienced board member. Recent Insider Transactions Derivative • Dec 11
CEO, MD & Director exercised options to buy AU$195k worth of stock. On the 10th of December, Stuart Nicholls exercised 5.00m options at around AU$0.05, then sold 2.00m of them at AU$0.061 each and kept the remainder. Since June 2025, Stuart's direct individual holding has increased from 4.05m shares to 5.16m. Company insiders have collectively bought AU$311k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Dec 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 67% per year over the past 5 years. Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$114.2m market cap, or US$75.7m). Announcement • Nov 25
Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 16.616127 million. Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 16.616127 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 339,905,533
Price\Range: AUD 0.041
Discount Per Security: AUD 0.0082
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 65,365,854
Price\Range: AUD 0.041
Discount Per Security: AUD 0.00205
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Oct 17
CEO, MD & Director recently bought AU$50k worth of stock On the 16th of October, Stuart Nicholls bought around 1m shares on-market at roughly AU$0.045 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stuart has been a buyer over the last 12 months, purchasing a net total of AU$151k worth in shares. Announcement • Sep 19
Elixir Energy Limited, Annual General Meeting, Oct 22, 2025 Elixir Energy Limited, Annual General Meeting, Oct 22, 2025. Location: at bdo`s offices, level 9, mia yellagonga tower 2,5 spring street, perth wa 6000, Australia Announcement • Sep 16
Xstate Resources Limited (ASX:XST) completed the acquisition of 51% stake in Diona Gas Project from Elixir Energy Limited (ASX:EXR). Xstate Resources Limited (ASX:XST) agreed to acquire 51% stake in Diona Gas Project from Elixir Energy Limited (ASX:EXR) for AUD 0.25 million on April 4, 2025.
The transaction is subject to approval of offer by acquirer shareholders, consummation of due diligence investigation and consummation of private placement OF AUD 2.5 million. The expected completion of the transaction is September 1, 2025. On July 28, 2025, the transaction has been approved by the shareholders of Xstate Resources Limited. As of August 21, 2025, the transaction was approved by Queensland Department of Natural Resources and Mines. As of August 20, 2025, the expected completion of the transaction is August 28, 2025. As of September 3, 2025, the expected completion of the transaction is September 4, 2025.
Xstate Resources Limited (ASX:XST) completed the acquisition of 51% stake in Diona Gas Project from Elixir Energy Limited (ASX:EXR) on September 15, 2025. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$15m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$15m free cash flow). Earnings have declined by 67% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$57.4m market cap, or US$37.5m). New Risk • May 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 8.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$42.0m market cap, or US$27.0m). Recent Insider Transactions • May 15
CEO, MD & Director recently bought AU$101k worth of stock On the 14th of May, Stuart Nicholls bought around 4m shares on-market at roughly AU$0.029 per share. This transaction increased Stuart's direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Stuart's only on-market trade for the last 12 months. Announcement • May 01
Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.117 million. Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.117 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,342,857
Price\Range: AUD 0.035
Security Features: Attached Options New Risk • Apr 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$32.1m market cap, or US$20.2m). New Risk • Mar 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$31.1m market cap, or US$19.8m). Announcement • Mar 06
Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 57,142,857
Price\Range: AUD 0.035
Security Features: Attached Options New Risk • Feb 20
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$37.1m market cap, or US$23.6m). Announcement • Feb 18
Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 6.981396 million. Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 6.981396 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 199,468,467
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Feb 13
Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 8.981396 million. Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 8.981396 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 199,468,466
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 57,142,857
Price\Range: AUD 0.035
Transaction Features: Subsequent Direct Listing New Risk • Oct 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$81.4m (US$54.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 1.6% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). Market cap is less than US$100m (AU$81.4m market cap, or US$54.8m). Announcement • Aug 16
Elixir Energy Limited, Annual General Meeting, Sep 19, 2024 Elixir Energy Limited, Annual General Meeting, Sep 19, 2024. Location: at bdos offices, level 7, 420 king william street, adelaide sa 5000 Australia New Risk • May 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$18m free cash flow). Earnings have declined by 4.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). Market cap is less than US$100m (AU$118.9m market cap, or US$77.7m). New Risk • Feb 24
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$18m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$18m free cash flow). Earnings have declined by 4.5% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). Market cap is less than US$100m (AU$81.6m market cap, or US$53.5m). Announcement • Dec 20
Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 6.475 million. Elixir Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 6.475 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 76,176,470
Price\Range: AUD 0.085
Discount Per Security: AUD 0.0051
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Dec 15
Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 6.5 million. Elixir Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 6.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 76,470,588
Price\Range: AUD 0.085
Discount Per Security: AUD 0.0051
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Sep 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Director Stephen Kelemen was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 14
Elixir Energy Limited, Annual General Meeting, Oct 16, 2023 Elixir Energy Limited, Annual General Meeting, Oct 16, 2023, at 14:00 AUS Central Standard Time. Location: BDO's offices, Level 7, 420 King William Street SA 5000 Adelaide Australia Agenda: To consider adoption of Remuneration Report; to consider re-election of Ms. Anna Sloboda as a Director; to consider approval to Issue Shares and Options under a Share purchase plan; to consider ratification of Prior issue of Placement Shares issued under ASX Listing Rules 7.1; to consider approval to issue of Placement Options to placement participants; to consider approval to issue Placement Shares and Placement Options to Mr. Neil Young, Director of the Company; and to transact other business. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 7.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Earnings have declined by 7.5% per year over the past 5 years. Revenue is less than US$1m (AU$313k revenue, or US$201k). Minor Risks Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (AU$77.3m market cap, or US$49.7m). Announcement • Feb 08
Elixir Energy Limited Provides an Update on the Extended Pilot Production Project Underway in its 100% Owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC) in the South Gobi Basin, Mongolia Elixir Energy Limited provided an update on the extended pilot production project underway in its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC) in the South Gobi Basin, Mongolia. The two well Nomgon CBM pilot production program was commissioned on the 16th of November 2022 and dewatering of the coals under a controlled production schedule then commenced. The program has now been successfully operational for 83 days. Early breakthrough of gas production from the Nomgon-9 well in the first day of pumping confirmed previous adsorption isotherm test results which showed the coals to be near 100% gas saturation. Last week the combined production from the Nomgon-8 and 9 wells reached 100,000 standard cubic feet per day (scfpd) of gas and 180 barrels per day (BWPD) of water and continues to improve steadily. This water production level (producing water is generally a standard feature of CBM operations) is very low compared to most Australian producing areas. Additionally, the water salinity appears to have stabilized at less than 5,000 ppm Total Dissolved Solids (TDS), which is at a level which may be suitable for livestock to drink. This provides a strong opportunity to work collaboratively with local communities over future water production. Nomgon-9 produces like a typical vertical CBM well, and gas rates have increased steadily over the period, producing at a rate of ~80,000 scfpd last week. The water production has remained relatively steady at ~160 BWPD. Currently the well is shut-in to perform a routine pressure build-up study with production testing to then recommence. For comparison, below is a plot of an average CBM production well (adapted from Gao et al, 2018), modelled on the Ordos Basin, which is immediately South of Mongolia's Gobi Basin in China. The graph of gas production indicates a period of time before gas production breaks through. This was not seen at Nomgon-9, where production began almost immediately. Due to several technical issues (quite normal for a project of this nature), including an initial downhole equipment mechanical fault (now rectified), Nomgon-8 has not produced as steadily as Nomgon-9. More recently the Company completed a workover of this well to flush and clean the production interval, and the well has now returned to production at a gas rate of 20,000 scfpd and a water rate of 20 BWPD. The company is now seeing encouraging signs of improvement at Nomgon-8, with the well steadily increasing rates of both water and gas as the well cleans up. With now over 80 days of production data, Elixir is starting to interpret a clear trend on the longer producing Nomgon-9 well. The decreasing reservoir pressure due to coal dewatering and consequent increasing gas rate are enabling the Company to begin estimating an early stage "type-curve", which will be a key input into assessments of commerciality. These will be completed in the coming months. Given the modest costs of CBM development drilling in Nomgon IX, combined with other factors such as strong regional gas prices, the gas production rates evidenced to date are clearly promising for the Company. Elixir's 2023 exploration and appraisal annual budget has recently been approved by the petroleum regulator in Mongolia. The program for 2023 will consist of the drilling of a minimum of 9 wells, 4 of which will be appraisal in nature and 5 will be exploration wells. The final location of the wells will be determined in the coming months with the drilling program to begin in Second Quarter of 2023, following required annual re-tendering, environmental approval and other administrative processes. Elixir retains the ability to amend the budget during the year in response to the pilot and other results. Announcement • Dec 22
Elixir Energy Limited Announces CBM Operations Update Elixir Energy Limited is pleased to provide an update on the coal bed methane exploration/appraisal program underway across its 100% owned Nomgon IX CBM Production Sharing Contract. Operations at the Nomgon pilot production plant continue. The Nomgon-9 well has seen growing (but currently unstabilised) water and gas rates, delivered through a variable choke. The produced water rates (which were low in the first place due to the high gas saturated nature of the coals) are decreasing and the casing (gas) pressure is steadily increasing. As indicated below, the flare from the well has been shielded for environmental, etc, reasons but still extends above the shielding structure. The Nomgon-8 well has just had a down-hole pump repaired and fluid from this well is now starting to be added to flows from Nomgon-9. Gas samples from the flow tests have measured 99% methane content. The salt content of produced water at 4,190ppm is fresher than previously measured. Both factors support materially lower costs and environmental impacts in a development stage. Production from the pilot will continue into the New Year and the Company's plan to determine if a commercial flow rate can be established is on track. The Company's exploration and appraisal drilling program for 2022 is now complete, with 17 wells drilled in the year (excluding the Nomgon-8 and 9 pilot wells). In the last month, Elixir mobilized Major Drilling Company (Major) to drill the final two wells at Big Slope. Major introduced an enclosed mud system to the program, and drilled the last well, Big Slope- 6, to a total depth of 460 metres in less than 10 days. This is the fastest rate of penetration Elixir has seen in the South Gobi Basin. The sophisticated mud system clearly improved hole stability. Big Slope-6 intersected 17 metres of coal, with desorbed gas rates in excess of 8 cubic metres per tonne (on a raw gas basis), which is the highest yet in the Nomgon IX PSC. Prior to this well, Major started its appraisal drilling campaign with the shallow well Big Slope-5. This well reached its total depth in basement at 214 metres and intersected 2.4 metres of coal. The Top Diamond Drilling LLC rig completed its program at Big Slope-3 and 4, which intersected 28 and 59 metres of coal respectively. In total, Elixir drilled 11,576 metres in 2022 in Nomgon IX. Analysis and interpretation of this program is underway and will supplement the emerging results of the pilot program as the key inputs for the Company's Mongolian CBM plans in 2023. Announcement • Oct 18
Elixir Energy Limited, Annual General Meeting, Nov 18, 2022 Elixir Energy Limited, Annual General Meeting, Nov 18, 2022, at 11:01 AUS Eastern Standard Time. Location: BDO's offices, Level 7, 420 King William Street Adelaide South Australia Australia Agenda: To receive and consider the Financial Report of the Company for the financial year ended 30 June 2022; To adopt remuneration report; To re-election of Mr Richard Cottee as a director; To approve Employee Incentive Securities Plan; To Issue of 2,000,000 Performance Rights to Neil Young; Resolutions; To subsequent approval under ASX Listing Rule 7.4 of Securities issued under ASX Listing Rules 7.1; To approve appointment of a new auditor; To approve 10% Placement Facility. Announcement • Oct 12
Elixir Energy Limited Provides an Update on the Coal Bed Methane (CBM) Pilot Project Underway in Its 100% Owned Nomgon Ix Cbm Production Sharing Contract Elixir Energy Limited provided an update on the coal bed methane (CBM) pilot project underway in its 100% owned Nomgon IX CBM Production Sharing Contract (PSC). The second well in the Company's extended pilot production program (Nomgon-8) has recently been successfully drilled and completed. The well was drilled to a total depth of 562 metres in 10 days (which is a new record for the Company) - safely, on time and on budget. Approximately 51 metres of coal were logged over the primary target "100 series coal" and a perforated liner installed over this section. The Major drilling rig has performed to the Company's expectations, and drilling performance has improved materially, albeit with a larger rig and a larger hole size. The rig will now stay on location and complete the wells in preparation for the pilot production program. Winter storms have arrived early in the Gobi this year, delaying operations somewhat, but Elixir still anticipates initiating the pilot production test within the next month or so. Elsewhere in the basin, drilling at Big Slope 2 has intersected ~38 metres of coal and silty coal. Gas desorption readings (on an initial raw gas basis) have been recorded at in excess of 7 m3/t and are the higher recorded in the Nomgon IX PSC so far. Elixir will continue to appraise this coal discovery in the next few months and plans to run an IFOT test in the Big Slope sub-basin before the end of the year. Announcement • Sep 28
Elixir Energy Limited Provides an Update on the Coal Bed Methane Pilot Project Elixir Energy Limited provided an update on the coal bed methane (CBM) pilot project underway in its 100% owned Nomgon IX CBM Production Sharing Contract (PSC). The first well in the Company's extended pilot production program (Nomgon-9) has recently been successfully drilled and completed. The well was drilled to a total depth of 488 metres in 11 days (which is a record for Elixir) - safely, on time and on budget. Approximately 55 metres of coal were logged over the primary target "100 series coal" and a perforated liner installed over this section. The rig is now moving to the location for the second and final pilot well (Nomgon-8), which is due to spud later this week. Post the completion of Nomgon-8, down-hole pumps will be installed in both wells together with production skids, pipework and a flare. Elixir plans to commence pumping fluids from the two pilot wells in around a month. Elixir has also initiated a baseline environmental monitoring program in the immediate region surrounding the pilot area, which is over and above the relevant regulatory requirements. This is the first time these have been used in the Gobi. Announcement • Sep 12
Elixir Energy Limited Provides Update on the Coal Bed Methane Exploration/Appraisal Program Underway Across Its 100% Owned Nomgon IX CBM Production Sharing Contract Elixir Energy Limited provided an update on the coal bed methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX CBM Production Sharing Contract (PSC). Pilot Production Program: Operations in the Nomgon Pilot Production Program commenced last week with the spud of the Nomgon-8 well. The surface conductor pipe has been installed, and drilling commenced on Saturday 10th September. As previously reported, the 2 pilot wells (Nomgon-8 and Nomgon-9) will be drilled by Major Drilling and reach a total depth of ~ 600m respectively in 8 ½" hole, with well planning and casing sizes similar to that of most Australian CBM wells. It is anticipated the two well drilling program will take less than 30 days, with pilot production testing operations to begin within weeks of the wells being completed. All testing equipment (pumps, casing, generators, etc) is on site. As is the norm with CBM wells, water will initially be produced until the reservoir pressure is lowered and gas is able to be desorbed and flow. The gas will be flared during the production test. The timetable for this is uncertain, given this is the first such test in the sub-basin. Elixir will also be initiating a baseline environmental monitoring program in the immediate region surrounding the pilot area, which is over and above the relevant regulatory requirements. This is the first time these have been used in the Gobi. Exploration Drilling Program: The Company's exploration program continues to utilize 3 local drilling rigs. In an effort to improve drilling performance, in the past month Elixir has publicly tendered for an additional, more technically advanced drilling rig to join the exploration campaign. Elixir award the tender to Major Drilling, who has proposed to introduce a larger mineral- style rig, with an advanced mud system and superior drilling supervision, at a cost effective price. Drilling operations using this new rig should commence within the next few weeks. Exploration and appraisal wells: Since the last CBM Operations Update of late July, the Company has drilled the Bulag Suuj-2, Yangir- 5, Orio-1 and Big Slope-1 wells. Bulag Suuj-2 determined that the coals intersected at Bulag Suuj-1 were deeper than 1,000 metres at this down-dip step-out location. The Orio-1 and Yangir-5 wells failed to reach their target depths due to various drilling problems. Big Slope-1 is still drilling at the date of the report and has already cored ~10 metres of coal. Visible gas was seen associated with the coals, and, subject to final logging, appears to represent a new CBM discovery for Elixir. Announcement • Aug 30
Elixir Energy Limited (ASX:EXR) acquired Queensland Gas asset for AUD 3.4 million. Elixir Energy Limited (ASX:EXR) acquired Queensland Gas asset for AUD 3.4 million on August 26, 2022. The consideration for the purchase is AUD 0.5 million and issued 20.7 million Elixir Energy Limited shares. Under the terms of the transaction, One third of shares escrowed for 9 months, one third escrowed for 18 months and one third unencumbered.
Elixir Energy Limited (ASX:EXR) completed the acquisition of Queensland Gas asset on August 26, 2022. Announcement • Aug 24
Elixir Energy Limited Provides Update on Its Gobi H2 Green Hydrogen Project in Southern Mongolia Elixir Energy Limited provided an update on its Gobi H2 green hydrogen project in Southern Mongolia. Elixir first deployed SODAR equipment to measure wind resources to a bankable standard over a year ago. A first annual report from local renewable energy consulting company, EBN Energy Trade LLC (EBN Energy), who manage the data collection and interpretation from the SODAR, has recently been provided to the Company. Based on the first year's full data set, a capacity factor of 38-39% (at a hub height of 80 metres) has been determined. To put this into context, this would place a wind-farm on this site firmly in the top quartile of operating wind-farms in Australia (which is itself one of the strongest wind power locations in the world), as measured by Rystad Energy. EBN Energy are currently installing 2 new SODARS in locations in the Gobi region. The deployment strategy is designed to gather both site specific data and also establish regionally relevant information along an extensive > 100 kilometre "strike" line adjacent to infrastructure and water resources. Last year Elixir acquired the pre-development Solar Ilch project in the Gobi region and has since installed Australian sourced solar monitoring equipment thereon. To date the data garnered is in line with expectations for the latitude and Mongolia's very clear skies. Notwithstanding its cool continental climate, the South of Mongolia is in fact on the same latitude as the North of Spain and its solar potential (greatly assisted by its lack of precipitation and clear skies) is accordingly strong. After renewable sourced electricity, water is the key input required for the production of green hydrogen. Although the Gobi region is an arid one, there are substantial sources of groundwater in the region, as demonstrated by the usage at large scale mines such as the Rio Tinto operated Oyu Tolgoi copper/gold mine. The volumes of water required for a multi gigawatt scale green hydrogen project that Gobi H2 has the potential to become are substantially less than currently used in such mining operations. Irrespective of this, the Company seeks to demonstrate to local communities (and other national stakeholders) that new sources of ground water (i.e. ones not currently being used for purposes such as feeding livestock) can be established. If such sources are too saline for agricultural usage, then that gives rise to only an immaterial additional cost for green hydrogen production, but is then not a source that the local stakeholders would otherwise use. Elixir has recently drilled three water exploration wells in the Gobi. One established a flow rate of 0.5 litres per second around half that required for the planned pilot project. It is accordingly Elixir's view that it has started to demonstrate that new sources of water can readily be found (at modest cost). Further water exploration wells will be drilled later this year once location(s) for the proposed pilot production plant have been finalized with partner SB Energy. On a regular basis Oyu Tolgoi commissions an independent (and public) audit report into its water usage. The most recent report was issued in January this year: The report notes Oyu Tolgoi is permitted to draw upon 1,000 litres per second of water around 6 times more than a multi giga-watt scale green hydrogen project producing 500,000 tonnes of green hydrogen per annum. No sustained draw-down of ground water resources or other environmental concerns were identified. Announcement • Jul 29
Elixir Energy Limited Provides Update on Coal Bed Methane Exploration/Appraisal Program Elixir Energy Limited ("Elixir" or the "Company") provided an update on the coal bed methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX CBM Production Sharing Contract (PSC). Pilot Production Program: The Nomgon pilot production program is scheduled to begin in the latter half of next month. Elixir has overcome many logistical and supply chain hurdles in the first half of 2022 and reported that all the required equipment for drilling, completion and testing is now in Mongolia. The program begins with the drilling of two pilot production wells. For the first time, Elixir has engaged Major Drilling Group, a drilling contractor with global operations, to drill the Nomgon 8 and 9 wells. In Mongolia, Major has worked extensively for Rio Tinto in the Oyu Tolgoi mine. The wells will be drilled to ~ 600 metres in 8 ½ hole, with well design and casing sizes similar to that of most Australian CBM production wells, rather than the smaller hole size exploration wells the Company has been drilling to date in Mongolia. Elixir anticipates completing and producing these wells within weeks of the drilling being completed. As is the norm with CBM wells, water will initially be produced until the reservoir pressure is lowered and gas is able to be desorbed. Over the months thereafter, measuring gas flow rates will provide the key foundation for assessing commerciality. Exploration Drilling Program The Company's exploration program continues, currently utilizing two local drilling sub-contractors and deploying three rigs. The Venetian-1 exploration well has discovered another coal-bearing sub-basin. It was drilled to 882 metres and intersected 6.5 metres of coal and carbonaceous siltstone in the CBM depth window. The Orio-1 exploration well has recently spudded in an area to the West of Yangir. The drilling of the Bulag Suuj-2 well has been slower than anticipated (although Elixir reiterates that it pays for exploration drilling on a per-metre rather than a per-day basis) and has yet to reach the prognosed Total Depth (TD) of 800 metres, due to mechanical issues. The Company attributes this poor performance to causes such as poor maintenance and the quality of the rig equipment (as the rigs in operation have expanded). In the Yangir sub-basin, the drilling performance in recent months has also been slower than anticipated. The Yangir-4 well, although encountering coals in the CBM depth window, did not reach the prognosed total depth, despite being re-spudded once. A proximate new well, Yangir-5, has spudded nearby. Drilling challenges - primarily mechanical in nature - have to date hampered the pace of the Company's exploration drilling program in the first half of 2022. The Company is monitoring these issues very closely and is putting in place a number of mechanisms designed to improve the performance of its local drilling sub-contractors, including on-site audits, inputs from Australian experts, reviewing wider alternatives, etc. Announcement • Jun 23
Elixir Energy Limited Provides an Update on the Coal Bed Methane (CBM) Exploration/Appraisal Program Elixir Energy Limited provided an update on the coal bed methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX CBM Production Sharing Contract (PSC). The Company has recently finished drilling the Bulag-Suuj-1S exploration well. This well logged 21 metres of coal. This discovery has opened up a potential new CBM bearing sub-basin in the PSC area. An appraisal well Bulag-Suuj-2S - is now following up on this discovery well, at a location some four kilometres away. A second rig has now been deployed by drilling contractor Top Diamond Drilling LLC. This is drilling the recently spudded Venetian-1S exploration well. The Company's 2022 2D seismic acquisition program has been successfully completed, on time and on budget, with 322 kilometres acquired. The data obtained is currently being processed and interpreted and will feed into the Company's future drilling plans. The Yangir-4 well has faced some drilling difficulties related to fractured coal, and is currently being re-drilled. The Company's extended pilot production program is advancing in parallel to the exploration and appraisal drilling. Experienced Mongolian contractor Monbag LLC has been hired to construct the civil works and this will commence shortly. The spudding of the first of the two production wells by drilling sub-contractor Major Drilling is expected by around the end of August 2022. Announcement • Apr 01
Elixir Energy Limited Provides an Update on the Coal Bed Methane (Cbm) Exploration/Appraisal Program Underway Across Its 100% Owned Nomgon Ix Coal Cbm Production Sharing Contract Elixir Energy Limited provided an update on the coal bed methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX Coal CBM Production Sharing Contract (PSC). Elixir's first well in its 2022 drilling campaign was the Tim-1S exploration well, targeting the identification of a new sub-basin located just to the South of the Tavan Tolgoi mining complex. The well was drilled to a total depth of 804 metres and logged 16 metres of coal and 30m of silty coal (i.e. in total, coal pay of 46 metres). The drilling sub-contractor who drilled Tim-1S, Top Diamond Drilling LLC, has now moved its rig to the Tim-2 location, ~200m downdip of the Tim-1 coal intersection. This well will be capable of having coal desorbed and permeability tested. Tim-1S and Tim-2 were drilled as carry over wells from the PSC's 2021 Budget. Elixir now has all the formal annual approvals to begin the 2022 program, and has recently re-signed Top Diamond Drilling LLC - and a new drilling sub-contractor, Ellecohr LLC - to drill the Company's wells in the exploration and appraisal program for this year. In addition, Elixir is contracting with the local subsidiary of international drilling firm Major Drilling to undertake the drilling and completion of the long term pilot production wells due to be drilled in themiddle of the year. Announcement • Feb 28
Elixir Energy Limited Provides an Update on the Coal Bed Methane Exploration/Appraisal Program Underway Across Its 100% Owned Nomgon IX Coal CBM Production Sharing Contract Elixir Energy Limited provided an update on the coal bed methane (CBM) exploration/appraisal program underway across its 100% owned Nomgon IX Coal CBM Production Sharing Contract (PSC). Elixir has commenced its 2022 drilling campaign with the spudding of the Tim-1S exploration well over the weekend. This well is situated south of the Tavan Tolgoi Coal Mining area, in a location where a potential coal bearing depocentre has been mapped by the Company. The well is targeting Jurassic and Permian coals and has a planned total depth (TD) of around 700 metres. Tim-1S will be the first well in what is planned to be a 24 well program for the year, for which Elixir will engage three drilling companies. The usual mandatory annual regulatory processes have been processed in the middle of the winter period and are close to completion. A key focus for 2022 is a 2 well extended pilot production program scheduled to commence drilling in the middle of the year - with an up to 6 month fluid pumping program thereafter. Preparations for this are on track and various long lead items are making their way to Mongolia. A successful pilot will affirm commercial gas flows and facilitate the Company's planned gas fired generation project in the Nomgon area. Announcement • Jan 18
Elixir Energy Limited Announces Progress on Multiple Fronts for its Mongolian Based Green Hydrogen Project Elixir Energy Limited (‘Elixir’ or the ‘Company’) announced progress on multiple fronts for its Mongolian based green hydrogen project. The Company has named this the ‘Gobi H2’ project and is applying for a Mongolian trademark for the name. Elixir's hydrogen strategy rests on the view that the Gobi region of Mongolia is one the of best locations in the world for exporting green hydrogen, given its renewable resources and immediate proximity to likely hydrogen markets. Elixir and the Mongolia Green Finance Corporation (MGFC) have just executed a Memorandum of Understanding under which the parties will cooperate on multiple fronts: Identifying Mongolian carbon offset opportunities at the household level. Elixir's aim is to reduce its current exploration/appraisal stage scope 1 and 2 carbon emissions by such means. Developing larger scale forestry/nature related offsets in Mongolia. These are increasingly sought by international oil and gas companies to offset emissions in the production stage of operations. Working with International Financial Institutions (IFIs) over the project financing of Elixir's proposed green hydrogen pilot production plant. A number of IFIs are present in Ulaanbaatar and Elixir has developed relationships with them. The MGFC is a joint public-private sector body established to facilitate the financing of Mongolian projects that will assist the global energy transition to a net zero carbon future. As announced to the market on 14 October 2021, Elixir entered into a MOU with Mongolia's Ministry of Energy under which the parties would cooperate over various hydrogen related matters. A key initial deliverable under that MOU has just been provided by Elixir to the Ministry a detailed analysis of the legal issues surrounding a potential green hydrogen project in Mongolia. Firstly, the Company procured a baseline analysis of the green hydrogen legal environment in the mature jurisdiction of Western Australia from global experts PriceWaterhouse (PwC). The comparative position in Mongolia was then evaluated by leading Ulaanbaatar based law firm MahoneyLiotta (ML). Copies of the legal reports have also been provided to: Various Ulaanbaatar based IFIs who have expressed interest in hydrogen projects in the country. The Future Energy Mongolian Hydrogen Council (Elixir's Managing Director serves as the Deputy Chairman of this recently established body). Elixir has worked with Mongolian drilling company ErdeneDrilling LLC (Erdene) for a number of years on the CBM drilling front. Erdene is also one of Mongolia's leading water drilling companies and has therefore considerable expertise in the technical, legal, local stakeholder management and other practical aspects of procuring water for industrial purposes in the country. Although water is not a large part of the cost structures of producing green hydrogen, it is a vital input and the social issues surrounding it are a key priority for the Company. Elixir's CBM business, where producing water is a necessary part of gas production from coal seams, provides complementary areas of expertise and even potential H2O feedstock for the Gobi H2 project. Elixir and Erdene have recently formalized their relationship over procuring water for hydrogen through an Agreement for the provision of water advisory services. The parties are currently planning field based water exploration and appraisal activities for later in the year. Other than water, the other key input for a green hydrogen project is high quality renewable power sources (which desktop analysis indicates are of globally very high quality in the Gobi region. On this front, Elixir is currently: · Measuring wind and solar resources to a bankable standard through its Australian sourced SODAR unit imported to the country last year and deployed in the South Gobi region. Importing a solar focused measurement tool (from the same Australian firm who supplied the SODAR Fulcrum3D) to be deployed at its recently acquired Solar Ilch solar farm. Announcement • Jul 20
Elixir Energy Limited Provides an Operations Update on the Current Exploration/Appraisal Program Underway Across Its 100% Owned Nomgon IX Coal Bed Methane Production Sharing Contract Elixir Energy Limited provided an operations update on the current exploration/appraisal program underway across its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC). Drilling in a new potential CBM bearing sub-basin has successfully established the presence of coal through two recently drilled strat-holes. Kingston-1S and Kingston-2S, intersecting 12m and 8 m of coal respectively. The Kingston 2S well is the deepest well that Elixir has drilled to date in the PSC. A step out well - Kingston-3S - located some 6 kilometres east of Kingston-2S, has just spudded. Later in the year a core-hole will be drilled in the Kingston sub-basin to measure the key CBM parameters of gas content and permeability. A new appraisal well in the Nomgon sub-basin is due to spud in around a week: Nomgon Central-1. Its objectives, in addition to taking cores and measuring permeability, will be to confirm a location and assist in other design parameters for one of the planned production test wells due to be drilled later this year. The first stage of the Company's 2D seismic program for this year is nearly completed, with the acquisition data now processed and interpretation underway. Relevant permissions for acquiring another 300 kilometres of 2D have been sought from the regulator and acquisition should re- commence in a couple of months. The Company will continue to provide regular operations updates in the months to come as it progresses through its work program for 2021 which now includes around 20 wells. Announcement • Jun 24
Elixir Energy Limited Provides an Operations Update Elixir Energy Limited provided an operations update on the current exploration/appraisal program underway across its 100% owned Nomgon IX Coal Bed Methane Production Sharing Contract. The West Yangir-1 core-hole, located some 8 kilometres to the West from the previous Yangir wells, has intersected 48 metres of coal (as measured from core by well-site geologists) to the current depth of 350 metres. Various mechanical issues and down-hole conditions have made for difficult drilling and the well's total depth has been truncated to the 350 metres reached to date. The Manlai-1S exploration well, located in the far North-West of the PSC, encountered mechanical issues during drilling and it did not reach its target depth. The Top Diamond LLC rig has now moved to a new sub-basin in the PSC. It has recently commenced the drilling of a new exploration well called Kingston-1S. As at the date of this update, the well has already countered coals. The Company's 2021 2D seismic acquisition program has now concluded its original planned 220 kilometres phase. Processing and interpretation are underway and the aim is to generate new drilling exploration targets to be pursued in the months and years to come. An expansion of the seismic program is currently being planned. Mongolia's COVID experience has entered a new phase in the last month, with high transmission rates being measured in recent weeks. However, vaccination rates have been globally high and in recent times the transmission rate has started to fall. Elixir's field operations have managed to successfully work within the relevant COVID rules. Announcement • May 28
Elixir Energy Limited Provides Operations Update Elixir Energy Limited provided an operations update on the current exploration/appraisal program underway across its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC). The Cracker-1S exploration strat-hole, located in the far North-West of the PSC, was the first ever well in the local sub-basin and was drilled on seismic acquired in 2020. It reached a target depth of 563 metres. It intersected Triassic rather than Permian sequences. The well has been remediated and the Erdene Drilling LLC rig is now moving to drill the West Yangir-1 core-hole. This core-hole is intended to provide data for a first stage production test well planned for later in the year, as the Company moves to expand its exploration and appraisal program to include multi-stage and multi-location production testing. As COVID-19 restrictions in Mongolia have eased, Top Diamond Drilling LLC, the second drilling company contracted by Elixir, has now moved a rig into the PSC area. The new Rig will initially drill a shallow exploratory well, Manlai 1S, in a new sub-basin in the far North-West of the PSC, 130 kilometres from the Nomgon Discovery. The well is targeting shallower Permian sediments. Manlai-1S will be followed up by a deeper well in the same sub-basin upon confirmation of encountering the Permian stratigraphy. The company's 2021 2D seismic program has been proceeding apace and has now acquired 140 kilometres of new seismic. This is being processed rapidly in order to feed the multi-rig drilling program. Elixir is currently finalizing locations for new seismic lines to be shot as part of the company's expanded field program. Announcement • May 08
Elixir Energy Limited Provides Operations Update on its 100% Owned Nomgon IX Coal Bed Methane Production Sharing Contract Elixir Energy Limited provided an operations update on the current exploration/appraisal program underway across its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC). The Cracker-1S exploration strat-hole, located some 130 kilometres to the North West of the company's last well, spudded on 7 May 2021. Cracker-1S is the first well to be drilled in the sub-basin identified in this region by (inter alia) the company's 2020 2D seismic program. A second drilling company was sub-contracted by Elixir over a month ago and is ready to immediately mobilise to a separate potential new sub-basin in the Nomgon IX CBM PSC as soon as COVID related travel restrictions allow. That is currently expected to be within the next two weeks. The company's 2021 2D seismic program has now acquired 51 kilometres of new seismic, which is being processed rapidly in order to feed the expanded drilling program. Is New 90 Day High Low • Feb 26
New 90-day high: AU$0.26 The company is up 104% from its price of AU$0.13 on 27 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 7.0% over the same period. Is New 90 Day High Low • Feb 18
New 90-day high: AU$0.22 The company is up 76% from its price of AU$0.13 on 20 November 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 12% over the same period. Recent Insider Transactions Derivative • Nov 30
Independent Non-Executive Chairman exercised options and sold AU$71k worth of stock On the 27th of November, Richard Cottee exercised 2.18m options at around AU$0.068, then sold 1.15m of the shares acquired at an average of AU$0.13 per share and kept the remainder. Since June 2020, Richard's direct individual holding has increased from 7.94m shares to 11.70m. Company insiders have collectively bought AU$1.0m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Nov 23
Elixir Energy Limited Announces Gassy Coals Intersected in New Sub-Basin Elixir Energy Limited ("Elixir" or the "Company") provided an update on operations in its 100% owned Nomgon IX CBM PSC. The Yangar 1S strat-hole well is currently being drilled in a new sub-basin located some 24 kilometres to the West North West of Nomgon-1. To date 27 metres of coal have been intersected. As of Saturday morning, the well was at 347 metres. The Company's well site geologist has observed very active gas bubbling from coals recovered to surface and in the mud-pit. This is considered unusual and is highly promising in coals that were at a relatively shallow depth of 260 metres. This may extend upwards the Company's overall view on the potential CBM "window" in the PSC. Elixir will now follow up with an appraisal program in the Yangir sub-basin next year, likely commencing with a fully desorbed and tested core-hole. The Hutul 1S strat-hole well (located 19 kilometres to the East of Nomgon-1) was drilled to test the eastern-most extension of the Nomgon sub-basin. It reached a total depth of 560 metres and intersected 6 metres of coal. Further tests and analysis is required to determine if this is a basinal extension from Nomgon or a new depocentre, but on the face of the facts available at present this is a promising find. Elixir's drilling program in 2020 has now delivered seven wells that successfully intersected material coals over a total West to East distance of 43 kilometres. COVID prevention measures in Mongolia have recently been escalated following instances of
community transmission for the first time in the country. At this stage the situation is somewhat fluid but it seems likely that the Company's planned final strat-hole for 2020 will be delayed. Recent Insider Transactions Derivative • Nov 16
Independent Non-Executive Chairman exercised options and sold AU$55k worth of stock On the 13th of November, Richard Cottee exercised 1.79m options at around AU$0.068, then sold 1.00m of the shares acquired at an average of AU$0.12 per share and kept the remainder. Since June 2020, Richard's direct individual holding has increased from 7.94m shares to 10.91m. Company insiders have collectively bought AU$1.0m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Oct 20
Independent Non-Executive Chairman exercised options and sold AU$67k worth of stock On the 16th of October, Richard Cottee exercised 1.97m options at around AU$0.068, then sold 1.00m of the shares acquired at an average of AU$0.14 per share and kept the remainder. Since June 2020, Richard's direct individual holding has increased from 7.94m shares to 9.94m. Company insiders have collectively bought AU$1.0m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Oct 01
Elixir Energy Limited Appoints Anna Sloboda as Non-Executive Director Elixir Energy Limited announced the appointment of Ms. Anna Sloboda as a Non-Executive Director, who joins the Board effective on October 1, 2020. Anna is a joint Belarusian/Australian citizen and has over 20 years experience in corporate finance, and in developing junior resource companies operating around the world. Anna is currently an Executive Director of Red Citadel Resources Pty Ltd. She also serves as an Advisory Committee Member, Maritime Archeaology, at the Western Australian Museum. Announcement • Sep 17
Elixir Energy Limited Provides Update on Operations in Its 100% Owned Nomgon IX CBM PSC Elixir Energy Limited provided an update on operations in its 100% owned Nomgon IX CBM PSC. Following the positive results recently generated from the drilling of the Nomgon-2 core-hole and Nomgon 3S and Nomgon 4S strat-holes, Elixir has decided to follow up with another appraisal strat- hole in the Nomgon sub-basin. Immediately following the drilling of Nomgon 5S, the company will move to drill three to four exploration strat-holes over the balance of this calendar year. Further announcements on well locations (which may themselves evolve as new data comes in) will follow in due course. Laboratory testing work on coals sampled from the Nomgon-2 corehole is still progressing, with results due to be progressively announced in the coming weeks. Processing of the 106 kilometres of 2D seismic data acquired in recent months has now been finalized and interpretation is underway. Announcement • Aug 11
Elixir Energy Limited announced that it has received AUD 1.6495 million in funding On May 13, 2020, Elixir Energy Limited (ASX:EXR) closed the transaction. The company has issued 82,475,000 shares. 
