{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Elixir Energy (ASX:EXR) - Drilling Down Unconventional Gas Prize in Bullish Australian Market","html":"","width":"100%","height":180,"duration":1913,"description":"Interview with Neil Young, MD & CEO of Elixir Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/elixir-energy-pioneers-major-gas-resource-in-australias-bowen-basinRecording date: 11th November 2024Elixir Energy (ASX:EXR) is an Australian gas exploration company focused on developing a large unconventional gas resource in the Grandis Basin of Queensland. The company recently completed a one-year appraisal drilling campaign that, while delivering mixed results, has provided valuable data to guide the next phase of development.The company's Managing Director, Neil Young, remains confident in the potential of the play despite the final well flowing at a subeconomic rate of 1 MMcf/d. Young attributes this to operational issues rather than reservoir quality, stating, \"We are confident that if we had to drill exactly the same well tomorrow without interruptions, we would get a commercial flow rate and above.\"Elixir's geologic model points to a potentially multi-TCF gas resource across its acreage. The company has identified multiple prospective zones and Young believes there is significant room for optimization through techniques like horizontal drilling and enhanced stimulation designs. He compares the current state of the play to the early days of the major US unconventional developments.With the initial appraisal campaign complete, Elixir is now focused on securing an experienced industry partner to help fund the next phase of drilling. The company is in discussions with a range of potential partners from supermajors to large US independents. While Young expects the farm-out process to take some time, Elixir is in no rush with a 15-year license in hand.In the interim, Elixir is pursuing several smaller-scale deals to generate near-term cash flow. This includes a potential farm-out of a conventional prospect on its acreage and the possible sale of a legacy asset in Mongolia. A key part of the Elixir story is the company's very favorable macro...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}