Elixir Energy Ltd (ASX:EXR) MD Neil Young tells Proactive the company has entered a data-sharing agreement with oil and gas giant Santos covering planned wells in neighbouring permits in the Taroom Trough of Queenslands Bowen Basin. The agreement with a Santos group company is in connection with Elixirs 100%-owned Grandis Gas Project (ATP 2044) located in the basin. It provides for Elixir and Santos to exchange technical data on planned wells in the neighbouring ATP 2044 (Elixir) and ATP 2056 (Santos) exploration permits in the Taroom Trough.
"The enormous potential of the known and extensive gas resources in the Taroom Trough will have a greater chance of being realised through such cooperative efforts, Young said.
"We look forward to working with Santos in the years ahead to develop this play.
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Elixir Energy Ltd