Next Investors logo grey

Elixir Energy spuds Cracker-1S well


Published 07-MAY-2021 14:35 P.M.


1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Elixir Energy Limited (ASX:EXR) has provided an operations update on the current exploration and appraisal program underway in its Nomgon project within the South Gobi region of Mongolia.

The Cracker-1S well was spudded yesterday, located in its 100% owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC).

The Cracker-1S exploration strat-hole 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, located some 130 kilometres to the North West of the Company’s last well.

“The Cracker-1S well is an exciting one for the Company, given its significant distance from our prior discoveries,” Elixir’s Managing Director, Mr Neil Young, said.

“Its geological potential to open up a new sub-basin is supplemented by its favourable location for access to such infrastructure as larger capacity electricity lines and the regional capital.”

Additionally, a second drilling company was sub-contracted by Elixir over a month ago and is planning to move to the field in the coming fortnight as soon as COVID related travel restrictions are lifted.

The second drilling company is ready to immediately mobilise to a separate potential new sub-basin in the Nomgon IX CBM PSC.

The Company’s 2021 2D seismic program is ongoing, and has now acquired 51 kilometres of new seismic, which is being processed rapidly in order to feed the expanded drilling program.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.