Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Elixir Energy Limited ( (AU:EXR) ) has provided an update.
Xstate Resources Limited has announced progress in its Diona-1 well drilling operations within the Diona Block of ATP 2077 in the Surat-Bowen Basin, Queensland. The company has successfully registered its 51% interest in ATP 2077 and is currently drilling towards the Showgrounds formation, with expectations to reach it soon. The Diona project is strategically located near existing gas infrastructure, offering a potential rapid path to market for any hydrocarbon discoveries. The well targets three proven hydrocarbon reservoirs and presents a promising risk-reward proposition with a 55% chance of geological success.
The most recent analyst rating on (AU:EXR) stock is a Buy with a A$0.19 price target. To see the full list of analyst forecasts on Elixir Energy Limited stock, see the AU:EXR Stock Forecast page.
More about Elixir Energy Limited
Xstate Resources Limited (ASX:XST) is an ASX-listed company focused on the oil and gas sector, primarily through its Diona project located in Queensland, Australia. The company owns a 51% interest in ATP 2077, with Elixir Energy Limited retaining full ownership of Blocks A and B. Xstate also holds exploration assets in the Sacramento Basin, California.
Average Trading Volume: 2,964,136
Technical Sentiment Signal: Sell
Current Market Cap: A$65.78M
Find detailed analytics on EXR stock on TipRanks’ Stock Analysis page.