Here’s a quick take of what we were recently told about our...

Here’s a quick take of what we were recently told about our Grandis project.

“This adsorbed gas component of the coal is now considered by Elixir to have significantly enhancedthe prospectivity of Grandis, because of:
1. The exceptional gas contents still adsorbed to the coals;2. The entire Permian section appears to be gas saturated without significant water;
and3. The natural permeability of the adjacent sandstones means there is a direct conduit from thesegassy coals to the sandstone reservoirs.”

Elixir’s Managing Director, Mr Neil Young, said: “We are naturally pleased to announce this verysubstantial increase in our already very large prospective resources in the coals in ATP 2044. To ourknowledge, conducting coal content analysis on deep formations in this fashion was a first in Australiaand as such is a tribute to the innovative mind set of our internal team and supportive serviceproviders. In only a few months’ time we aim to commence converting these resources into discoveredcontingent resources.”

SIGNIFICANT INCREASE IN PROSPECTIVE RESOURCES