Elixir Energy to receive $1 million in Origin data share deal

Melbourne, Victoria

--News Direct--

Elixir Energy Ltd 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."

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

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