New to EXR?- Read this- some research that might assist

For those thinking about investing or new entrants to EXR that might have bought in today off the back of the reddit/ASX_bets discussion from last night, or jumped on because of todays’ sp spike…or indeed, for whatever reason…….welcome!

Now you’re here I would strongly suggest some research (as if you haven’t already!) if you intend to hold….if you’re here to trade, good luck, but if you want the real rewards, in my opinion, you’ll need to stick around till 2022/23 before Gazprom (or whomever) take us out….and that is indeed the plan with EXR….to prospect a massive 30,000 square klm patch (the size of Belgium), literally on the doorstep of a massive consumer hungry for supply (in addition to the domestic use case) in a rinse and repeat cycle (currently funded with cash in bank for the entire 2021 program) of research, drilling, analysis and a progressive booking of contingent then increasingly de-risked confirmed resource to shape this up into an attractive take over target (EXR will not be an operational producer at scale)….to ultimately get taken out…selling our shares well, well north of the current 22c share price we sit at from todays surge.

I’ll leave it up to you the reader to trawl through the mostly excellent EXR threads for fantastic contributions from seasoned oil n gas practitioners and operators who make it easier for the lay folk like me to get a grasp of the technical aspects & processes, the nature of gas bearing coals and the differences economically between Mongolian gas and , for instance, Bowen/Surat etc etc and all round deeper dive into EXR history, the MD and BOD, the Mongolian government as our partner, the very real risks andpitfalls, but mostly…the “eye watering risk/reward equation” as per (this extract) Richard Cottee’s inaugural letter to shareholders in the Annual Report-18 ^th October 2019:

Chairman’s Letter

Dear fellow Shareholder

It is with a great pleasure that I write my first Chairman’s letter to you. The timing is quite auspicious

as it is occurring just before the quarter during which Elixir’s assets in Mongolia should be

substantially de-risked.

Over the last few months as I have met with Elixir’s investors, a common question has been why I

elected to join the Board of Elixir. The answer is quite simple - an eye-watering risk/reward equation.

Elixir’s Mongolia Coal Seam Gas (CSG) acreage appears to contain a large portion of gas-prone

coal with acreage roughly equivalent to what Queensland Gas Corporation (QGC) held in 2002, when

QGC had a similar market capitalisation. As ChiefExecutive of QGC in 2002 I was faced with a

major de-risking task, similar to that facing Elixir now.Some 6 years later QGC was taken over for

A$5.8 billion.

At a bare minimum of research, I’d suggest consumingthese:

1. https://hotcopper.com.au/threads/ann-2021-work-program.5904683/
2. To give the above some more context, watch this…. https://youtu.be/Ls8FJGV4nv4
3. Which follows on from an earlier interview- https://youtu.be/Ls8FJGV4nv4
4. https://www.nextoilrush.com/company/asx-exr/

No independent broker analysis/coverage as yet….BUT this is good (*note- these reports have been commissioned by EXR)

EXR_ K1 Capial Report_9.12.20.pdf

And finally….if you want to be blown away, we are incredibly fortunate to have fantastic research, an excellent risk analysis register and an amazing model (continually assesses and updated) by @OilGasPlanning

Posted here without seeking his permission,....but hopefully he’s OK with it?!!

EXR OilGasPlanning_Model_Pages1-7_11.01.21.pdf
EXR OilGasPlanning_Model_Pages 7-10_11.01.21.pdf
EXR OilGasPlanning_Geo Political Risk Analysis Jan 2021.pdf

I’ve missed a whole lot of other stuff and haven’t done justice to a bunch of really excellent and informed contributors, so apologies to them !

Hope this helps a bit, best of luck with your investment in EXR…..it is a truly amazing, risk/reward play, not without a raft of risks of course, but slowly and surely, under excellent leadership from a MD and BoD... who do what they say they will do, true value is starting to materialise.