Elixir Energy (EXR) Q3 2026 TU earnings summary

Executive summary

• Drilled, cored, logged, and cased Lorelle-3/3H appraisal well in ATP2056 on schedule and budget, confirming four hydrocarbon-bearing reservoirs with 148m total net gas-condensate pay.

• Lorelle-3H achieved a record 1,157m lateral section in the Tinowon 'Dunk' Sandstone, measuring 1,033m of high-quality net gas-condensate pay with average porosity of 11.2%.

• Completed Teelba 2D seismic survey (225 km) in ATP2057, enhancing subsurface imaging in prospective acreage.

• Ended quarter with $22.3 million liquidity, fully funded for remaining 2026 activities.

• Entered a key catalyst period with flow testing of Diona-1 and Lorelle-3H scheduled for the next quarter.

Financial highlights

• Cash position at 31 March 2026 was $14.26 million, with an undrawn R&D facility of $8.05 million.

• Net cash used in operating activities for the quarter was $(276)k; net cash used in investing activities was $(8.5) million.

• Raised $2.68 million from Tranche-2 of a strategic placement and $1.91 million from borrowings.

• Available liquidity totals $22.3 million, supporting completion of the 2026 capital program.

Outlook and guidance

• Flow testing of Diona-1 and Lorelle-3H scheduled for the coming quarter, with potential for maiden 2P reserves booking in the Taroom Trough.

• Fully funded for all remaining 2026 activities, including both retention and reserve definition phases.

• Queensland Government's focus on energy security and new acreage releases may enhance future development opportunities.