Elixir Energy Limited · ASX:EXR
Elixir Energy — AEP Technical & Business Forum 2026
19 slides from Elixir Energy's conference presentation, May 21, 2026
Slide 1: AEP Technical & Business Forum: The Taroom Trough a Montney Sized Opportunity
For personal use only AEP Technical & Business Forum 21st May 2026 The Taroom Trough a Montney sized Opportunity 1 Stimulation at Diona-1 May 2026
Slide 2: About
About For personal use only Strategic Corporate Asset-Level Advisory Advisory Services We provide analysis and insights We deliver operational expertise Our technical and commercial to shape, and validate, your and experienced management capabilities enable you to meet the business strategies. to ma
Slide 3: The Taroom Trough – Australia's Next Major Energy Supply
The Taroom Trough – Australia’s Next Major Energy Supply 1. Proximity to Infrastructure & Markets Darwin For personal use only o On the doorstep of the Wallumbilla Gas Hub, the gateway to the structurally short domestic market o Proximal to 25 mtpa of LNG capacity at Gladstone via multiple nearby de
Slide 4: The Taroom Trough is a Montney sized opportunity
The Taroom Trough is a Montney sized opportunity The Montney Play The break-throughs and success of the prolific Montney in Canada For personal use only were nation and industry building for Canada’s energy security and the creation of their LNG export opportunities. 50% of Canada’s gas The Montne
Slide 5: The older sister from Canada
The older sister from Canada Taroom Montney For personal use only Reservoir Type Tight sandstones Siltstone & sandstone with some distal shale Play Type Basin Centred Gas + Tight Gas Sands Basin Centred Gas + tight gas & liquids-rich siltstone Age Permian & Triassic Triassic Source Permian coal meas
Slide 6: A well drilled path
A well drilled path We are here… For personal use only Montney Play unlocked, rapid growth begins Petroleum Vertical wells Identified, geology tested, poor First horizontal LNG scale planning 10 BCF/d, LNG defined results multi-stage frac & investment Canada Online 1960s 1970s 2005 2010 2015 2025 19
Slide 7: Market settings before the drilling boom
Market settings before the drilling boom For personal use only Price of gas in Canada (mid-2000’s) before horizontal drilling arrived $8 GJ The Montney's paradox was that the technology that unlocked the resource also flooded the market and crashed the price, precisely because there was no export ou
Slide 8: The four-stages of Montney D&C success which can be replicated in the Taroom
The four-stages of Montney D&C success which can be replicated in the Taroom Gas EUR- Frac Stages v Prod Year (wet gas wells) 85% productivity inc with only a 50% inc in stage intensity¹ 1 Get the productivity up For personal use only application of horizontal drilling and multi-stage +85% stimulati
Slide 9: 2026 the breakout year for the Taroom
2026 the breakout year for the Taroom Elixir’s Lorelle-3H flow test likely to be a historical moment for Taroom For personal use only development cadence The Taroom Trough is experiencing a step change in activity with ~10 wells being executed in 2026 The QLD Government is releasing its Taroom Devel
Slide 10: Lorelle-3 a defining moment for the Taroom
Lorelle-3 a defining moment for the Taroom Lorelle-3 & 3H Schematic (not to scale) Best in basin execution. Longest lateral length For personal use only executed, completed a complex scope (whole core, no MPD, pilot to lateral etc). Kianga Cost effective: inclusive of vertical, Group Gas - Conde
Slide 11: Lorelle-3H: Homogeneous Reservoir Results with Seismic Conformity
Lorelle-3H: Homogeneous Reservoir Results with Seismic Conformity Lorelle-3H Petrophysics For personal use only 1,033m net pay Maximum Porosity 18% Good wet-gas on mud logs with saturations confirmed on Average Porosity 11.2% Resistivity and NMR logs Sw: 30 - 60% Gas samples attained Futur
Slide 12: Today's Montney Benchmarking, what does a good Taroom well look like?
Todays Montney Benchmarking, what does a good Taroom well look like? Montney Deliverability Per Year For personal use only (Mcf/de) – Wet Gas, 3,000m lateral¹ The average Montney well drilled over the last 10-years has an¹: Spacing of 350m 3km lateral section 9.2 BCF EUR Peak IP rates have r
Slide 13: Lorelle-3's Dunk is regionally significant
Lorelle-3’s Dunk is regionally significant For personal use only Northern extension of Shell’s primary reservoir units Coarse grained sands in L3H cuttings Fluorescence cuttings from ‘Dunk’ from Dunk at 3,339m MD Sandstone Reservoir Shell’s new 3D seismic polygon which 28m net wet-gas ingresses into
Slide 14: The Dunk Sand play is material in its own right when comparing to Montney analogues
The Dunk Sand play is material in its own right when comparing to Montney analogues Elixir has been able to map 2,795 km² of prospective Dunk sand For personal use only area using offset wells, public seismic plus its proprietary L-3 Dunk sand logs and its recently acquired Teelba 2D seismic. poly
Slide 15: Taroom v Montney Conclusions
Taroom v Montney Conclusions Lessons from the Montney success story 1. Multi-stage horizontal fracking transformed Montney from stranded to world-class. For personal use only 2. Early estimates materially underestimated recoveries because completion technology evolved so rapidly. 3. Following the pl
Slide 16: The only thing standing in our way is ourselves
The only thing standing in our way is ourselves…but Queensland seems determined to apply the shepherd For personal use only 16
Slide 17: Dunk Sands from Lorelle-3H
Dunks Sands from Lorelle-3H For personal use only Stuart Nicholls www.elixirenergy.com.au CEO& Managing Director stuart.nicholls@elixirenergy.com.au
Slide 18: Appendix: Resource Information & Cautionary Statements
Appendix: Resource Information & Cautionary Statements The totals are based on arithmetic aggregation of reservoir estimates. It must be noted that the 1C estimates may be conservative and the aggregate 3C estimates may be optimistic due to the portfolio effects of arithmetic summation. For personal
Slide 19: Appendix: Forward Looking Statements
Appendix: Forward Looking Statements Forward Looking Statements Statements contained in this Report, including but not limited to those regarding the possible or assumed future costs, projected timeframes, performance, dividends, returns, revenue, exchange rates, potential growth of Elixir, industry