Ann: Daydream-2 Operations Concluded, page-5

Planning of the Daydream-3 appraisal well in the Grandis Project is in progress, which will focus on
further de-risking of the very significant gas resources now established.

Elixir’s Managing Director, Mr Neil Young, said: “The Daydream-2 appraisal program has massively
exceeded our expectations of more than 2 years ago when we acquired Project Grandis. Our work –
combined with that of our various neighbours – is opening up vitally needed and very material gas
resources for Gladstone, Queensland and Australia. The extensive data gathered to date will inform
possible pathways to production. We expect our discussions with potential partners will now likely
be accelerated as the global oil and gas industry turns its eye to the enormous opportunities in the
Taroom Trough.”