Elixir Energy spuds Cracker-1S well

By Hannah Goldman. Published at May 7, 2021, in Energy

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.


View Our Investment Portfolios


S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X