Ann: CBM Pilot Project Update, page-2

55m coal encountered.

Elixir’s Managing Director, Mr Neil Young, said: “We are pleased to report that our pilot production
program is on track with the successful drilling and completion of Nomgon-9. I congratulate our drilling
contractor Major Drilling and our own on-site team, who have worked tirelessly to deliver a quick, safe
and fit for purpose pilot well. We look forward to moving into the pilot production phase, and although
the timing and quantums of water and gas flows from the wells is uncertain in such a new area, we
could see meaningful gas breakthroughs by as early as Christmas.”

Rig on the way to second location. Its all on track.