Elixir Energy Ltd (ASX: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 Queenslands Taroom Trough. Origin is in the process of being awarded a greenhouse gas (GHG) licence which overlaps Elixirs Grandis Gas Project, or ATP 2044. This licence facilitates Origins 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.
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Elixir Energy Ltd
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