Ann: Presentation Expanding in the Taroom Trough, page-50

We'll see over the coming days- as we;ve seen today - that the naysayers will venture forth here spouting their wisdom and warning us of dire circumstances, yet again offering great advice for all our benefit (as usual!).
For the moment- they can laugh at our fate and eroding sp....and they have a point- it quite rightly sucks.

Santos have plenty on their plate- they horde blocks and ATPs like any other big player and then evaluate what to do, where and when, dependent on a number of factors, budget cycles etc etc.

Someone else here posted they thought the Santos ATP's were approaching expiration- and that if required work isn't carried out in time- the blocks go back to market.

Makes sense to me- Obviously we took advantage of the situation and nabbed them - preventing anyone else from doing so.

The brokers probably took advantage of our FOMO and the condensed timeframe we had to jump on these- and that's prob (IMO) why the raise terms aren't exactly what we'd all have liked....and we'll feel it until those brokers wash their shares (and Oppies) through the market- that's what they do.
And of course- they employ morons that post here to assist in creating fear and doubt and uncertainty amongst nervous shareholders.
It's pretty obvious if you have your eyes open and brain switched on.

Seems to me the Santos rights expire on these dates below- hence why we've had these stipulated in the agreements, but as you'll note from the slide deck and announcement- we will perform the Lorelle well Q3 this year in ATP 2056 (Ok, ok...let's just say its Q4 and allow for slippage in usual EXR fashion), and the other piece of work- the seismic- in ATP2057 "sometime next year"...... obviously before June 2026.

Once those 2 bits of work are completed- "These programs will meet the exploration commitments for the two licences. Operatorship will revert to Santos thereafter."

Disclosures of Farmin Agreement key terms per 4.15 of Guidance Note 8:
3. Timeframe for farmin work to be carried out by Elixir - in the case of ATP 2056, by March 2026 and in the case of ATP 2057 by June 2026.